This article is the ultimate list of some of Kenya’s wealthiest people. This post will only have Kenyan billionaires who attain a certain threshold, as there are many more millionaires in this nation than just these few names. Read on which entrepreneurs make up the top 20 rich people in Kenya.
According to the Cambridge Dictionary, a rich person has a lot of money or valuable possessions.
Kenya is the largest economy in East Africa, with a GDP of US$70.539 billion, and has some of the top richest in Kenya.
In a 2022 report by Knight Frank, There are 3,362 Kenyans worth over Sh113 million, up from 3,323 in 2020.
The country has been ranked fourth in Knight Frank’s Wealth Report list of the African States” ultra-rich.
But the people listed in this article are worth millions of dollars and have appeared among several rich people in Kenya. Here you will find the richest man in Kenya and the richest woman in Kenya.
List of Richest People in Kenya
In the next section, we will list the wealthiest people in Kenya according to their Net worth. Net worth is the value of all an individual’s non-financial and financial assets minus the value of all their outstanding liabilities.
An individual’s Net worth, called wealth, refers to an individual’s net economic position, the value of assets minus liabilities.
Examples of assets someone would factor into their net worth include retirement accounts, other investments, home(s), and vehicles. Liabilities include secured debt (such as a home mortgage) and unsecured debt (consumer debt or personal loans).
Typically intangible assets such as educational degrees are not factored into net worth, even though such investments positively contribute to one’s overall financial position.
Wealthiest people in Kenya by order
Here are the wealthiest people in Kenya; some are deceased, but their names still hold much transferred to their kin.
Moi and Family
Moi and his family are among the country’s most affluent families, with an estimated net worth of $3 billion. They have several companies and have invested in almost every niche in Kenya. Moi’s wealth is hard to track owing to its diversity and secrecy, but needless to say, at USD 3 billion, he is one of the richest men in Kenya and beyond.
Biwott owned the prestigious Yaya Center, a landmark shopping center in Nairobi, at his death. He also owned Air Kenya, among other ventures. His business dealings were in total secrecy, making it hard to determine his net worth.
However, the Nigerian Venture magazine placed Nicholas Biwott at $1 billion, making him one of the richest men in Kenya and Africa.
Mama Ngina Kenyatta
Mama Ngina Kenyatta and former powerful cabinet minister Nicholas Biwott appeared in Africa’s top billionaires in the Nigeria-based Ventures financial magazine.
The two are among the 55 Africa’s dollar billionaires in a list that includes two Kenyans, Naushad Merali and Manu Chandaria. The magazine tips as the country’s wealthiest and 25th most prosperous continent, with a fortune of $1.65 billion (Sh142 billion).
Mama Ngina, the mother of Kenya’s fourth President, Uhuru Kenyatta, has a net worth of $1 billion (Sh86 billion) in the real estate, banking, and hospitality sectors. She is among the three women that made it to Africa’s billionaire club.
See the list of Richest Women in Kenya
Bhimji Depar Shah
He is the founder and current Chairman of BIDCO Group of Companies, a Kenya-based, family-owned manufacturing conglomerate with businesses in 13 African countries. He is one of the wealthiest people in Kenya, with an estimated net worth of approximately US$700 million.
He was a businessman, industrialist, Kenyan mobile service provider Kencell, and French media giant Vivendi. He schooled at the Highway Secondary School in Nairobi.
Naushad Merali chairs Sameer Group, a Kenyan conglomerate active in agriculture, construction, information technology, property, and finance during his lifetime.
He was formerly the chairman and largest individual shareholder of Bharti Airtel’s operations in Kenya, but in 2014 he sold his shares and stepped down from the company’s board. His net worth is valued at USD 550 Million.
Uhuru Kenyatta is one of the richest people in Kenya who has never seen hardship. Before becoming the president of Kenya, Uhuru Kenyatta managed his father’s wealth, acquiring his own in the process. He is one of the wealthiest people in Kenya, with a total net worth of US$500 million.
Kirubi was an individual with many attributes to his personality and business life; Kirubi was a businessman, industrialist, and philanthropist. He is the current chairman of Centum Investment Company Limited, in which he is the largest individual shareholder. His net worth is over US$300 million. He is also the East’s most prominent mall owner, and Central Africa was known as Two Rivers Mall.
Manilal Premchand Chandaria is the Comcraft Group of Companies owner who manufactures steel, plastic, and aluminum products.
Comcraft operates in more than 11 African countries, Chandaria is also in the real estate business, and his net worth is estimated at $270 million.
Check out the richest men in Kenya
Atul Shah was Born in Nandi Hills, Kenya, in 1961 and grew up under harsh conditions. He is currently the Managing director and Chief Executive Officer of Nakumatt Holdings.
Nakumatt was one of the largest privately-owned supermarkets in Kenya, Uganda, Tanzania, and Rwanda, with more than 7,000 people on its paid list and annual sales of well over US$650 million.
His net worth is more than USD 290 Million. However, His fortunes may be parachuting owing to the downward trend of Nakumatt over the last few years.
Peter Kahara Munga
Peter Munga is the group chairman of the Equity Bank Group, one of the largest African continents, with a customer base of over 9.3 million. Munga’s net worth is more than USD 280 Million, making him one of Kenya’s richest men.
Raila Odinga is popularly known in Kenya as the father of Modern Democracy and Prime Minister or Baba. His net worth (US$250 million) makes him one of the richest people in Kenya.
James Mwangi is a businessman, banker, Group Managing Director, and Group Chief Executive Officer of Equity Group Holdings Limited. Mwangi and his wife own Equity Group Holdings Limited and British American Insurance Company Limited (Britam). These roles make the family one of the wealthiest in Kenya. The family’s name is on marble, with a net worth of upward of US$170 million at a time.
13. S.K. Macharia Net Worth
S.K. Macharia is a businessman and media mogul who owns numerous English, Kiswahili, and Vernacular stations, including Citizen TV, Kiss, Radio Jambo, Ramogi, Muuga Chamgei, Inooro, Bahari, and Wimwaro. These stations collectively make The Royal Media company one of Kenya’s most successful media companies.
S.K has also tried his hand at Agriculture, Real estate, Transport, and Banking. His total net worth is estimated to be $150 million. He is said to be an all-rounder, as his investments are found in all major companies in Kenya.
Baloobhai Patel is a businessman, entrepreneur, and philanthropist in Kenya. His investments include Transworld Safaris Limited’s tour company, which he owns and serves as the managing director.
He also serves as a non-executive director at Pan Africa Insurance, the largest non-institutional shareholder. He also maintains significant shareholding in Barclays Bank Kenya, Bamburi Cement, Carbacid Investments, Diamond Trust Bank Group, and Safaricom. In July 2013, he held in NSE-listed companies valued at KSh2.4 billion.
Another one on our list of richest people in Kenya is Titus Naikuni. He is a mechanical engineer, businessman, and corporate executive in Kenya. Naikuni has made a fortune and has been on the list of the wealthiest individuals in Kenya. He has a net worth of USD 140 Million.
Joe Wanjui (Joseph Barrage Warui) is a businessman and a political advisor. He is the Chief Executive Officer of Unilever. He serves as the Chairman of UAP Holdings Limited and the Jockey Club of Kenya. Valued at USD 125 Million, many describe him as a most accomplished individual.
Bharat Thakrar is valued at USD 90 Million. He is the company’s largest shareholder, the founder, and CEO of Scan Group, East Africa’s most extensive marketing services. He is valued to be US$$90 million in net worth.
Also, read about the Richest musicians in Kenya.
Jane Wanjiru Michuki
She is a Kenyan Lawyer, Businesswoman, and Investor. Jane Wanjiru is the managing partner at Kimani & Michuki Advocates, a corporate law firm based in Nairobi with vast clients all over the country. Her estimated net worth is US$60 million.
The asset valuation of Fina Bank (Kenya) is estimated to be approximately $171 million. The first African governor of the Central Bank of Kenya (CBK), Ndegwa, also served as the first Kenyan African Head of the Civil Service. His exact net worth is unknown but he is sure to run into the millions of dollars.
Paunrana is one of the richest people in Kenya, valued at USD 80 Million. He was born in 1959 and educated in Kenyan schools.
Paunrana spent two years with a software company in New York, earning US$40,000 annually, and returning to Kenya in late 1984. He later teamed up with his father in his business, known as ARM Cement Limited, listed on the Nairobi Securities Exchange (NSE).
Stay in touch as we bring you the net worth of Kenya’s wealthiest people in the next post. Instead of the top ten richest people in Kenya, we have shown you 20, not just Kenya’s top 10 richest people.
FAQ on Richest People in Kenya
The following are the frequently asked questions about the richest people in Kenya:
Who is the billionaire in Kenya in 2022?
Kenya has several billionaires: Uhuru Kenyatta, The Late Chris Kirubi, and The Late Naushad Merali, among others listed in this article.
Who is the richest man in Kenya today?
No official records show who Kenya’s richest man is today. However, there are several billionaires in the country, and it is safe to assume that one occupies that spot.
How many billionaires are in Kenya?
According to the 2022 Knight Frank Wealth Report, Kenya has more than 39 High Net Worth Individuals (HNWIs) with more than Ksh113. 89 million.
Which tribe is the richest in Kenya?
Kenya has many tribes, each with its own unique culture and traditions. But which tribe is the richest in Kenya? There are no official records to answer this question, but it is safe to say that the richest tribe in Kenya can be any of the Kenyan tribes.