Yoweri Kaguta Museveni is the 9th and current president of Uganda, a position that he has held since 1986.
Aside from being the most powerful individual in Uganda, President Museveni is also one of the richest politicians in Uganda and amongst the top 20 richest presidents in Africa.
Here is a look at President Museveni’s net worth and how he has been able to make his wealth.
What is Yoweri Museveni’s net worth in 2024?
As of 2022, Uganda’s President Yoweri Museveni’s net worth is estimated to be around $50 million, which is roughly equivalent to about UGX 180 billion.
He has accumulated this incredible fortune from his career in politics, as well as from agricultural investments.
Yoweri Museveni presidency
Museveni has been the president of Uganda since 1986, when he took over from Idi Amin Dada.
The presidency seat has helped Museveni accumulate wealth, not just through the perks that come with the big seat, like the ability to influence and control policies that favour his businesses, but also through the incredible salaries and allowances that he receives.
It is estimated that President Museveni receives a salary of about 183,216 US dollars every year, which is roughly equivalent to 14,094 US dollars every month.
Yoweri Museveni’s cows
Besides his presidential salary and allowances, President Museveni, who is a descendant of cattle keepers, is a rancher himself, and among the leading ranchers in Uganda.
The head of state owns two main ranches- one in Kisozi and another one in Rwakitura. In Kisozi alone, he has over 10,000 cows, mainly of the Ankole breed.
His ranches contribute vastly to Museveni’s net worth as he earns from the sale of their milk as well as beef.
It is estimated that Museveni sells at least 600 cattle every year, and he is the main beef supplier to a lot of restaurants and hotels in Kampala.
President Museveni cars
Museveni’s net worth and status as president afford him the cars of his dreams.
The president, who is known to gift his loyal supporters as well as Olympic champions, also knows how to gift himself with some expensive toys.
In 2018, it was reported that President Museveni purchased two luxurious cars that allegedly cost an immodest Sh 6 billion.
One of the two luxury cars that caused an uproar was a Mercedes Benz S500 Pullman Guard, which is a limousine.
Museveni’s house
Although the official residency of the president of Uganda is at the State House of Uganda, President Museveni also owns a private home in Rwakitura.
The mansion is a stately multi-storied building with a large compound and well-manicured lawns.
Silencing critics who had claimed that Museveni had purchased his Rwakitura house using stolen public money, Museveni went on the record to say that he bought the house in 1967, way before he came to power.
Is President Museveni the richest person in Uganda?
President Museveni is not the richest person in Uganda. As of 2022, the richest man in Uganda is the tycoon, founder and owner of Ruparelia Group- Sudhir Ruparelia, who has a net worth of about $1.3 billion.
Other billionaires who dominate the list of the richest people in Uganda by Forbes include Patrick Bitature, Charles Mbire, Amiral Karmali, and Amos Nzeyi, to mention a few.
Is Yoweri Museveni the richest president in Africa?
Although he is not the richest president in Africa, Yoweri Museveni’s net worth places him among the top 20 richest presidents in Africa.