Shaf Rasul, the dynamic entrepreneur and former star of BBC’s Dragons’ Den Online, has died at the age of 55 after a sudden illness, his family confirmed this week. The news has prompted an outpouring of tributes from friends, colleagues, and admirers across the UK business community and beyond, painting a vivid picture of a man whose impact was felt far beyond the boardroom.
According to The Sun and Daily Record, Rasul is believed to have passed away at his home on the morning of Thursday, February 20, 2026, following a sudden illness that struck the previous weekend. His family released a heartfelt statement, saying, "It is with profound sadness that we announce the passing of Shafqat Rasul. A devoted father to Sohaib and Sarah Rasul, a loving husband to Nabila Rasul, a cherished son of the late Haji Ghulam Rasul and Parveen Akhtar, and a dear brother to Zahid, Shahid, Ashfaq, Ml Abid and Juwariah."
Rasul’s funeral was held at Sunnyside Cemetery on Parkhead Road in Sauchie, Clackmannanshire, with a Janza prayer beginning at Glasgow Central Mosque on the afternoon of February 26. The family’s message concluded with a request: "We humbly request your duas for the deceased and strength and patience for the family during this difficult time."
Born in Lahore, Pakistan, Rasul’s journey to becoming one of Britain’s most successful Asian entrepreneurs was anything but ordinary. His family moved first to Huddersfield when he was a child, and later to Alloa, Scotland. There, Rasul attended the University of Strathclyde, earning a degree in corporate law—a foundation that would serve him well in his future business ventures.
In the early 1990s, Rasul embarked on his business career, quickly making a name for himself in the property and computer sectors. His big break came less than a decade later when he founded E-Net Computers, a company that would catapult him into the ranks of the UK’s self-made multi-millionaires. By 2008, Rasul had secured a coveted spot in the top 20 of the UK Asian Rich List, a testament to both his business acumen and relentless drive.
Rasul’s influence extended far beyond his own enterprises. In April 2009, he was selected as one of the Dragons for the BBC’s Dragons’ Den Online series, a web-based spin-off of the popular television show. Hosted by Dominic Byrne and featuring fellow Dragon Julie Meyer, the series maintained the same format as its TV counterpart, offering budding entrepreneurs a shot at investment and expert advice. The episodes featuring Rasul aired weekly from September 16 to October 7, 2009, and his presence on the show was marked by the same sharp insight and passion for innovation that characterized his business dealings.
Rasul’s commitment to fostering new talent was evident in his role as the University of Strathclyde’s first resident entrepreneur. He often spoke at business events and mentored aspiring entrepreneurs, earning a reputation as a generous advisor. According to his own website, Rasul was “one of the UK’s most dynamic entrepreneurs, bringing sharp insight, real-world experience, and a passion for innovation.”
Even in recent years, Rasul remained active in the business world. In 2025, his property company, SRA Ventures LTD, announced the lease of a West Lothian commercial unit to Druids, a rapidly growing golf apparel brand. Rasul expressed his excitement at the deal, stating he was “thrilled” about the partnership—a sentiment that encapsulated his ever-present enthusiasm for new ventures.
The news of Rasul’s passing has sparked a wave of tributes from across the business community and social media. Chris Gilmour, co-founder of PR agency Tigerbond, shared his memories with The Sun: “Shaf was a client for nearly 25 years and didn’t change a bit. He was always full of the same boundless enthusiasm for life and business. There are so many people out there whose lives were touched by his kindness and he was always happy to dispense advice to budding entrepreneurs.” Gilmour fondly recalled, “I still remember one of the first times I met him and he welcomed a colleague and me into his office – and introduced us to a tank of piranhas!”
On social media, tributes poured in from former classmates, friends, and followers. One former classmate, Suzanne, wrote, “I’m shocked to hear this. I was at school with Shaf, such a smart, funny guy.” Another online user reflected, “Our friend Shaf has moved on to what I hope is a better place. I shall never forget your infectious and beautiful approach to life. Your positivity, your embrace, your massive smile and your warm handshake. You always asked ‘of other people’ – never concerned about yourself. Now we are thinking of you and your astonishing achievements. Most of all, we are thinking of how you made us all feel – and that will be what I will always remember.”
The outpouring of grief and gratitude underscores Rasul’s lasting impact—not just as a business leader, but as a mentor, friend, and family man. His story resonates with many who saw in him the embodiment of hard work, resilience, and generosity. Colleagues and mentees alike remember him as someone who was always willing to share advice, offer encouragement, and celebrate others’ successes as much as his own.
Rasul’s legacy also includes his role in promoting diversity and opportunity within the UK business landscape. As the son of a newsagent who rose to the heights of the UK Asian Rich List, he inspired countless young entrepreneurs from minority backgrounds. His success story—rooted in both his Pakistani heritage and his Scottish upbringing—served as a beacon for those who might otherwise have felt excluded from the corridors of power and prosperity.
In addition to his business pursuits, Rasul was known for his deep devotion to his family. The tributes from his wife, children, siblings, and wider community speak to a man whose achievements in business were matched only by his commitment to those closest to him. The Janza prayer at Glasgow Central Mosque and his burial in Clackmannanshire were attended by family, friends, and admirers, all coming together to honor a life well-lived.
As the UK business world reflects on Rasul’s passing, his story remains a powerful reminder of the difference one person can make—through ambition, kindness, and a willingness to give back. Though his presence will be missed, the legacy of Shaf Rasul endures in the countless lives he touched and the opportunities he helped create.