Kenya is one of the leading countries in East Africa and it is best known for its improved economic standards. Over the years, Kenya has improved in various sectors including business, ICT, and economy. Meanwhile, some people claim it is East Africa’s biggest economy.
Who Is The Richest Man In Kenya 2020?
Some Kenyans, such as Jomo Kenyatta and Daniel Moi, are well known not only for their past roles in Kenya’s politics but also for being part of the richest men in the country. However, Jomo Kenyatta and Daniel Moi are just a few of the richest men in Kenya. To provide information about many other rich Kenyan men who hold high stakes in big companies, we have decided to focus this write-up on the Top 20 Richest Men in Kenya.
The Richest Man In Kenya 2020 Top 20 Wealthiest People
Net Worth: $3 Billion
Daniel Moi is an icon in Kenya’s political history. He served as the second President of Kenya, the position he maintained for about 25 years. Considered the richest Kenyan, Daniel Moi (alongside his family) is declared with the net worth of $3 billion.
Daniel Moi – Richest Man In Kenya
During his reign as Kenya’s President, Daniel Moi was condemned for his dictatorial government and some Kenyans clamor that his massive wealth may have stemmed from looted funds. Over the years, Daniel Moi has made his mark as a vibrant business partner with investments in Paradise Holdings Limited, Kenya Television Network, Transnational Bank Kenya Limited, Loan of Kenya Insurance Company and Insurance Company of East Africa amongst others.
Manu Chandaria Second Richest Man In Kenya
With his success in building Comcraft into a leading steel and aluminum company in sub-Sahara Africa, Manu Chandaria is a reputable Kenyan investor and owner of multi-million dollar companies. His massive wealth base has given him a spot among Kenya’s richest men. Just to mention a few, Manu Chandaria controls top companies inclusive of Mabati Industries and East African Match Company.
Mama Ngina Kenyatta Among The Richest People In Kenya
Net Worth: $1 Billion
Mama Ngina Kenyatta belongs to the Kenyatta family and wife of the former president Jomo Kenyatta –Kenya’s second-biggest landowner. After Kenya’s independence from British control, Jomo Kenyatta became its first President. He served as the President of Kenya for a period of 15 years (1963-1978). Alongside his family, Jomo Kenyatta is worth $1 billion. As an influential Kenyan lineage, the Kenyatta family owns a number of companies and also holds stakes in several other reputable companies. Some of these companies are The Village Market, Prestige Air, The Heritage Hotel Group, Peponi Schools, Commercial Bank of Africa and Brookside Dairy Limited amongst others.
Bhimji Depar Shah
Net worth estimated at around $600 Million dollars, Naushad is a shilling billionaire as well as a reputable Kenyan investor. Currently, he manages a number of companies worth more than 15 billion shillings. Besides, he owns and controls the renowned Sameer Group.
The seventh richest man in Kenya, Chris Kirubi began his business career as a salesman dealing in cars, is currently one of the wealthiest dignitaries in Kenya. If not an owner, Chris Kirubi serves as a shareholder in some of Kenya’s leading companies including Centum Investment Group, Kiruma International Limited, Capital FM, Sandvik East Africa, UAP Insurance Kenya, Haco Tiger Industries and Capital FM. Besides, Chris Kirubi maintains his business reputation as an associate of Kibaki.
Net Worth: $500 Million
Raila Odinga is the eighth richest man in Kenya, a personalty notable for his political involvement. Precisely, he is a child to Jaramogi Odinga –the first Vice President of Kenya. As regards his prominent political roles, Raila Odinga has held public offices parliamentary members, cabinet ministers, and Kenya’s prime minister. During the controversial 2007 presidential election, Odinga served as the presidential candidate under the aegis of the Orange Democratic Movement. After failing to emerge as President in the election, he was eventually assigned the role of Prime Minister. Currently, he owns several assets with shares in giant companies like East Africa Spectre Limited, Kisumu Molasses Plant, and Pan African Petroleum Industrial Services Limited.
Musalia Mudavadi Among The Richest Men In Kenya
Musalia Mudavadi is a child of one of the influential cabinet ministers under President Daniel Moi’s administration. Musalia Mudavadi joined the Kenyan parliament in 1989, serving as an MP. Following the demise of his father –who was then a cabinet minister –Mudavadi was quickly assigned the role of a cabinet minister. Besides being one of Kenya’s richest people, Mudavadi holds public offices as the minister of local government as well as Kenya’s deputy prime minister. Also in the past, Mudavadi served as Kenya’s Vice President, holding the office for just three months. Currently, he possesses many assets and holds shares in banking and insurance.
SK Macharia is a shilling billionaire as well as a tycoon in Kenya’s media sector. as regards his involvement in the media sector, he owns and controls Royal Media Services –a voluminous media conglomerate that controls vernacular radio stations including Hot96 FM and Citizen Television. Meanwhile, some Kenyans believe that SK Macharia took advantage of his relationships with the statehouse to set up his media company in the country.
Coming after the duo of Kenyatta and Moi, Mwai Kibaki became the third President of the Republic of Kenya. At the end of Kibaki’s reign, he was displaced by Uhuru Kenyatta. Besides his desirable wealth, Kibaki is a distinguished and experienced Kenyan with nearly 50 years of political experience. With billions of Kenyan shillings in his coffers, Kibaki is an undisputed wealthy man with massive land ownership and shareholding in reputable Kenyan companies. Besides, his residential and commercial assets are found across several Kenyan regions.
William Ruto is a wealthy lawmaker from Kenya’s Eldoret North Constituency. Although his wealth is never on a par with that of Kenyatta family or Moi family, William Ruto is said to be stark rich as he owns and controls a number of assets. William Ruto, as well as several other political personalities, became prominent under the influence of the YK ’92 lobbying group. Besides being a shareholder of AMACO Insurance, Ruto possesses assets including Rongai-based Osere Flats, Orterter Enterprises Limited and Oseng Properties Limited.
Jimnah Mbaru is spotted at number eight among our list of richest people in Kenya. He is a wealthy Kenyan investor and one of the founding members of the African Stock Exchanges Association. In previous times and for a 10-year period, Mbaru maintained an authoritative role as the chairperson of the Nairobi Stock Exchange. His current role as an investment banker, as well as his past experience, reveals that he is an influential character in the Kenyan business sector. With billions of shillings under his control, Jimnah Mbaru maintains his surging wealth and he has shares in Occidental Insurance Company, Africa Consulting Group Limited, Dry & Blair Investment Bank, Nairobi Equator Hospital and Jitegemee Trust Limited amongst others.
Philip is a late Kenyan who was prominent for his involvement in Kenya’s business sector where he served as the ex-chairman of Kenya Commercial Bank. Also, he was the ex-governor of the Central Bank of Kenya. Philip Ndegwa is dead but his family maintains his legacy and controls his billions of shillings. On his behalf, his family maintains shares in top companies including East Africa Bottlers, Insurance Company of East Africa, Mackenzie Kenya, Unga Group Limited, Mitchell Cotts Limited, Lion of Kenya Insurance and Riverside Park Estate.
Simeon Nyachae is a renowned Kenyan who has resigned from his role in Kenyan politics. It is believed that he took advantage of his time in politics to acquire great wealth, making him one of the wealthiest men in Kenya. Although he has ended his reign on the political floor, Simeon Nyachae continually maintains his wealth as a vibrant businessman with a strong financial ambit.
Charles Njonjo is another retired Kenyan who served as Kenya’s attorney general in previous times. He is very prominent for his outspokenness and his roles in the politics of Kenya. Believed to have engaged in politics, some people claim his wealth may have stemmed from politics. But based on findings, the largest portion of Charles Njonjo’s wealth is attributed to his diverse investments in various companies including Sankara Hotel, Car & General East Africa, CMC Holdings, Alico Insurance, CFC Stanbic Bank, Barclays Bank Kenya, and British American Investment Company.
Stanley Githunguri is well-known particularly for the authoritative role he performed in the past during his 3-year reign as the Executive Chairman of the National Bank of Kenya. Currently, he maintains his wealth through the ownership of several assets including the Lilian Towers that houses the well-known Safari Club in Nairobi. Some of the other assets he owns are large farms based in the central region of Kenya as well as enormous areas of land. Moreover, he is considered one of the vibrant Kenyan shareholders with diverse shares.
John Michuki is a deceased Kenyan personality considered one of the richest men in the country during his time. Prior to his death, he contributed immensely to several Kenyan ministries associated with the environment, transportation, finance, and internal security. Based on findings, deceased Michuki was a shilling billionaire with a number of assets including enormous land in Nairobi’s Central Province, Nairobi-based Norfolk Towers, Muthaiga-based Windsor Golf and Country Club Hotel and several other assets.
John Harun is a popular Kenyan well-known for his election to the Kenyan Parliament in 1992, particularly when he was appointed by the then President –Daniel Moi –to head the anti-corruption group. Many people believe he is very wealthy particularly in view of how he succeeded in the establishment of the rural electrification scheme located in Ukambani. In the course of this, Harun Mwau spent 80 million shillings in flying all Ukambani councilors to Israel.
Considered a passionate investor, Harun Mwau has taken his investment ambit across the confines of Kenya. In the U.S.A, his investments are worth over 80 billion shillings. Moreover, reports claim Harun Mwau is the owner of a number of Asian and Middle Eastern companies that are worth billions of shillings.
During Obama’s reign as US President, he brought some allegations against John Mwau, claiming that the latter was a drug baron. However, Mwau condemned all the allegations. With his wealth still rising fast, Mwau maintains his multi-billion companies among which are Sheltown Limited, Vitu Limited, Pepe Enterprises, Mwundo Limited, and Harun International Limited.
During Daniel Moi’s reign as Kenya’s President, Joshua Kulei served as his personal assistant. During Moi’s administration, many Kenyans complained about maladministration and fraudulent use of public funds. Meanwhile, Kulei is said to have acquired his money through his presence in the supposedly fraudulent administration headed by Daniel Moi. Many people might not believe it but Joshua Kulei is extremely rich probably as a result of the billions of shillings he acquired under Daniel Moi’s government. To signify Kulei’s immense wealth, he is the owner of several assets including enormous land areas. Reports also claim that Telel, who is a brother to Kulei, manages Kulei’s assets in the U.S.A. Over and above that, Kulei has magnified his wealth with the vibrant businesses he established in Kenya.
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