Who is the Richest man in Kenya? Kenya has 42 individuals who are worth more than Sh. 3 billion ($30 million), this is according to Knight Frank’s global wealth report. In the same vein, two recent studies into fortunes of Kenyans have identified a small circle of the richest people in Kenya who control the bulk of the country’s wealth. The names listed here have featured top in a survey by London-based firm New World Wealth and also on Forbes.
Although the bulk of the wealth is controlled by just a few, another report from the Central Bank of Kenya indicates that the number of Kenyans who have Ksh 100,000 or more in their accounts stood at 1.1 million.
Richest man in Kenya
Industrialist Chandaria is the chairman of Comcraft group and is estimated to be worth Ksh 27 billion.
Ksh 27 billion is the equivalent of money allocated for paying all MPs and running parliament for one year, including providing allowances and other benefits the legislators enjoy.
Chandaria chairs boards of many government and non-governmental organisations in the country. Some of these include; Mabati Rollings, Kaluworks, Uganda Baati, universities as USIU, Technical, and banks as Bank of India, previously Standard Charted Bank, among others.
Chris Kirubi, popularly referred as DJ CK is the owner of Capital Media Group and has a huge stake in Haco Tiger brands. He is the chairman of Centum Investment Group.
He is estimated to be worth KSh 29 billion. This amount of money can help Kenya Power connect almost all homes through its rural electrification programme.
President Uhuru Kenyatta
Different reports put president Kenyatta either at position two or three. By virtue of his family, he is valued at an estimated KSh 48 billion with investments cutting across almost all sectors of the Kenyan economy. He owns vast tracts of land too.
KSh 48 billion can provide free education in Kenya complete with food and buying school equipment for one year.
Merali is the founder of the Sameer Group that deals in construction, agriculture, property, IT and finance. Forbes estimates that he is worth KSh 53 billion. Half of that amount, according to the Kenya budget 2015/2016 can modernize military and police equipment, lease police and prisons vehicles, provide all police officers with a medical cover.
Vimal Shah is said to be the richest man in Kenya at the moment. He is consumer goods maker and Bidco’s chief executive officer.
While Forbes estimates that Shah is worth a conservative figure of Ksh 68 billion, New World Wealth put it at a staggering Ksh 144 billion.
Peter Kahara Munga
He is the former group chairman of the Equity Bank Group, one of the largest on the African continent. He is a major shareholder in key listed businesses and non listed businesses where he owns stakes worth billions.
Key political figure in Kenya and his family runs a number of businesses.
He is regarded as new money, but there is no denying that he is a billionaire, his source of wealth notwithstanding.
James Mwangi –
Group Managing Director and Group Chief Executive Officer of the Equity Group Holdings Limited. He is a major shareholder in key listed businesses and non listed businesses where he owns stakes worth billions.
S. K Macharia
A businessman and media mogul, who owns numerous stations in both English, Kiswahili and vernacular that include Citizen TV, Radio Ramogi, Muuga, Chamgei, Iinooro, Bahari and Wimwaro.
Estimates place his wealth at over Ksh. 44 billion. His wealth is mostly from his steel and cement business known as Devki.
Bhimji Depar Shah and family: This brings together the larger family behind the Bidco Africa business.
His multibillion wealth is derived from his investment businesses. He is a major shareholder in key listed businesses and non listed businesses where he owns stakes worth billions.
He holds the key to the Moi family wealth which is estimated to be over Sh. 400 billion.
Baloobhai Patel is a businessman, entrepreneur, and philanthropist in Kenya. His investments include the tour company Transworld Safaris Limited. He also maintains significant shareholding in Barclays Bank Kenya, Bamburi Cement, Carbacid Investments, Diamond Trust Bank Group, and Safaricom. His holding in NSE-listed companies valued at over KSh. 2.4 billion
Their businesses and investments are estimated to be valued at billions of shillings, starting with their shareholding in the NCBA Bank.
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