Did you know that 85% of wealth globally is held by 10% of the richest persons in the world, while the bottom half in the wealth scale have about 1% of the global wealth? Well, if that does not tell you something about wealth distribution globally, then nothing will.
In the Kenyan context, the script remains pure and unedited. The country is dominated by a few affluent business moguls. Recent findings by Knight Frank revealed some astonishing numbers as they showed the nation has 42 ultra-high net worth persons, who have amassed wealth estimated to be over $30 million each.
Nevertheless, even a pack has a leader. The list of the ultra-rich is topped by several persons as we see below
Moi Family
The former president’s family tops this list with their massive investments. The family has an estimated net worth of about $3 billion, with most of this wealth having roots in almost all sectors of the economy.
Some of the investments owned by the family include shares in banks such as Trans-National Bank, Giant Forex Bureau and Equity Stock Brokers. Owning financial institutions is just not enough for the family, as they hold stakes in other businesses such as the Standard Group, CMC Holdings, Flower Farms and Sheraton Holdings.
Manu Chandaria
Born in Kenya by Indian parents, the 92-year old’s desire to become a man of substance. He has an estimated net worth of $1.7 billion dollars The University of Oklahoma Engineering graduate virtually owns the entire steel industry in Kenya.
His Comcraft Group of Companies is present in over 11 African countries. He also serves as the chairman of the Bank of India Advisory Committee and is a known philanthropist.
The father of two also loves peace as demonstrated in his efforts towards the course.
Mama Ngina Kenyatta
The list of the wealthiest in East Africa’s largest economy would be incomplete without mentioning Kenya’s first First Lady. Her family is estimated to have assets worth over $1 billion dollars.
These assets are spread throughout the Kenyan economic stage, with some of the major ones being NCBA Group PLC, Mediamax Group, and Heritage Group of Hotels. Brookside Dairies, East Africa’s largest dairy processor also falls under the Kenyatta’s realm, with the majority stake belonging to the family.
Other major assets include large tracts of land all over the country, Timsales Holdings and Beta Healthcare.
Bhimji Depar Shah
Among the most successful businessmen in Kenya, Bhimji Depar Shah is arguably among the biggest names on the elite list. Currently serving as the Chairman of BIDCO Group of Companies, the 90-year old has a lot under his name.
His main investment is in the family-owned manufacturing business conglomerate BIDCO Group, which he founded in 1970 in Nyeri County.
Currently, the company has a strong presence in 13 African countries, including Kenya’s neighbours Uganda and Tanzania. The company manufactures an assorted array of household products, with the list ranging from soaps and detergents to baking powder.
Estimated to be worth over $700 million, the 31st richest man in Africa knows how it feels to be successful.