The wealthiest individuals in Kenya are all listed in this article. There are many millionaires in this country but, this post will only include the top 10 Kenyan billionaires and their net worth.
A person’s net worth is calculated as the sum of all of their financial and non-financial assets less the total amount of their outstanding liabilities.
Continue reading to learn more about the ten richest people in Kenya.
The MOI Family, $3 Billion
With a $3 billion total net worth, the MOI family is at the top of the list of the wealthiest people in Kenya in 2023. The family has interests in more than 8 different industries, including manufacturing, insurance, and banking.
Through Daniel Arap Moi’s 24 years as president of Kenya, this family was able to accumulate a large portion of this wealth. The family now owns Kenya Television Network, Vybezz Radio, Standard News Paper, Radio Maisha, and Spice FM.
Manu Chanda, $1.7 Billion
With an estimated net worth of $1.75 billion, Manu Chandaria ranks as the second richest person in Kenya. He runs Comcraft, a Kenyan steel and aluminium conglomerate, as chairman and CEO. He is an Indian-born industrialist from Kenya.
Manu Chandaria studied and graduated from Jamnagar University in India. He then went on to study engineering at the University of Oklahoma where he completed his BSc and master’s degree.
That’s when he entered fully into business and has since been listed among the richest Kenyans for quite some time now.
Nicholas Biwott, $1.1 Billion
At the time of his passing, Biwott was the owner of Nairobi’s renowned Yaya Centre. Along with other businesses, he owned Air Kenya. It is usually difficult to calculate his net worth because there’s a lot of secrecy surrounding his economic dealings.
Nicholas Biwott, one of the wealthiest people in Kenya and Africa, was listed by the Nigerian Venture magazine at $1 billion.
Mama Ngina Kenyatta, $1.65 billion
In the Nigerian financial magazine Ventures, Mama Ngina Kenyatta and Nicholas Biwott, a former influential cabinet minister, were included among Africa’s top billionaires.
They are two of the 55 billionaires in Africa, along with two other Kenyans named Naushad Merali and Manu Chandaria. With a fortune of $1.65 billion (Sh142 billion), the magazine ranks Africa as the continent with the highest wealth.
Uhuru Kenyatta’s mother, Mama Ngina, has a net worth of $1 billion (Sh86 billion) in the real estate, banking, and hotel industries. She is one of the three women that joined the exclusive group of billionaires in Africa.
Bhimji Depar Shah, $700 Million
The BIDCO Group of Companies, a family-owned manufacturing conglomerate with operations in 13 African nations, was founded by him, and he currently serves as its chairman.
With an estimated net worth of almost US$700 million, he is one of the richest individuals in Kenya.
Nashad Merali, $600 Million
With an estimated net worth of 600 million dollars, Nashad Merali ranks sixth among Kenya’s richest people. He is an entrepreneur and the creator of the Kenyan mobile service company Kencell.
He also serves as the chairman of Kenya’s Sameer Group, a conglomerate involved in finance, information technology, agribusiness, and construction.
Before selling his shares and stepping down from the board, Naushad was a significant shareholder in Airtel Telecommunications. This however hasn’t changed anything, because he is still among Kenya’s richest individuals.
Uhuru Kenyatta $500 Million
Uhuru Kenyattas one of Kenya’s richest persons and has been wealthy for most of his lifetime.
Uhuru Kenyatta was in charge of his father’s riches before becoming the president of Kenya, and in the process, he made money of his own. With a total net worth of $500 million, he is one of the richest individuals in Kenya.
Chris Kirubi, $400 Million
Kirubi, who had a net worth of $301 million in the 2011 Forbes inaugural ranking of Africa’s 40 richest individuals, was placed as the second richest man in Kenya and the 31st richest person in Africa. In 2011, the Kenyatta family, with a net worth of $500 million, was named the richest family in Kenya, leaving him in second place. But in 2012, Forbes removed Kirubi from their ranking of the 40 richest Africans.
Chris Kirubi chaired, Nairobi Bottlers Limited, DHL Express Kenya Limited, Haco Industries Kenya Limited, International House Limited, 98.4 Capital FM, and Sandvik East Africa Limited. Unfortunately, he passed on on 14 June 2021 after losing the battle with Cancer.
Samuel Kamau Macharia, $365 Million
The 8th slot goes to Kenyan entrepreneur and well-known tycoon Samuel Kamau Macharia. He owns several firms, including the royal media company, one of the most prosperous corporations in Kenya, in which he holds a significant part.
His net worth is reported to be approximately 365 million dollars, and he controls several radio and television stations in several dialects.
Atul Shah $290 Million
Atul Shah was born in 1961 in Nandi Hills, Kenya, and experienced a difficult upbringing. At the moment, he serves as Nakumatt Holdings’ managing director and CEO.
With more than 7,000 people on its paid list and yearly sales of well over US$650 million, Nakumatt was one of the biggest privately-owned supermarkets in Kenya, Uganda, Tanzania, and Rwanda.
More than 290 million dollars are in his net worth. But with the recent decline in Nakumatt, His wealth might be about to take a turn for the worse.
Conclusion
According to the 2022 Knight Frank Wealth Report, Kenya has more than 39 HNWIs, or high net worth individuals, who have wealth over Ksh113. 89 million.
And while there are no official records that show who is wealthiest as of today, you can refer to our list of the top 10 richest Kenyans for the moment.
