In the realm of immense wealth, Kenya boasts a select group of individuals who have reached unimaginable heights of financial success.
These billion-dollar moguls have overcome countless challenges, predominantly emerging victorious in the country’s evolving economic landscape.
As we come to the end of 2024, it’s time to cast a spotlight on the top Kenyan billionaires of the year.
From industrious entrepreneurs to shrewd investors, these visionary leaders have paved their paths to prosperity through strategic business acumen, innovative thinking, and an unwavering commitment to excellence.
With diverse business ventures ranging from entrepreneur, finance, real estate and telecommunications, these individuals are not only shaping the country’s economic future but also playing a significant role in the global business arena.
Join us as we delve deep into successes, and ventures of Kenya’s wealthiest individuals.
For some it is from rags to riches, these extraordinary individuals have not only rewritten their own destinies but have become the true giants of wealth in Kenya’s business landscape.
1-Manu Chandaria -Net Worth $1 billion
Manu is a Kenyan businessman of Indian descent and was born in Nairobi. He is a senior member of Comcraft Group of Companies, an enterprise that has a presence in over 40 countries. He is also Chairman of Bank of India Advisory Committee in Nairobi among others.
His personal business interests are extensive and span the vast of the Kenyan economy and as well as 50 other countries.
Chandaria’s father, an Indian merchant from Saurashtra, Gujarat, moved to Kenya in 1915 to start a provisions shop in Nairobi.
He is married to Aruna with whom he has two children: daughter Priti and son Neal, who works in the family business, and three grandchildren.
2-Mama Ngina Kenyatta -Net worth $1 billion
Mama Ngina Kenyatta is a former first lady of the Republic of Kenya. Her net worth is $1 billion, making her the only female dollar billionaire in Kenya.
Mama Ngina’s interests cut across various sectors, including real estate, hospitality, and banking. She has stakes in Peponi School, Brookside Dairy, NCBA Bank, and Mediamax, among others.
3-Bhimji Depar Shah – Net worth: $790 million
Bhimji is a Kenyan businessman, industrialist and entrepreneur. He is the founder and chairman of BIDCO Group of Companies, a Kenya-based manufacturing conglomerate with businesses in 13 African countries.
He was born in Cairo, Egypt but moved to kenya in mid-1900s and settled in Nyeri, opening up a petrol station in the town. In 1970, he started Bidco Industries Limited, a garments manufacturing business. He is one of the richest men in Kenya in 2024 with net worth valued at $790 million.
4-Uhuru Kenyatta – Net worth: $530 million
Former President Uhuru Kenyatta is among the richest men in Kenya with a net worth of $530 million.
He is a Kenyan politician and served as the fourth president of Kenya from 2013 to 2022.
Uhuru is the son of Jomo Kenyatta, Kenya’s first president and previously served as Deputy Prime Minister from 2008 to 2013.
He has business interests in various sectors, including banking, milk processing, transport, media, hospitality and land.
5-Mahendra Rambgai Patel -Net worth : $420 million
Mahendra is among the richest men in Kenya with a networth of Ksh48.7 billion. His family is behind the Ramco Group of Companies – a conglomerate that operates over 45 companies across East African countries.
He was born and raised in Gujarat region of India, came to Kenya in the early 1940s and set up a hardware store in downtown Nairobi in 1948. Over time, the hardware grew and later gave birth to Ramco Group of companies.
In 1986, they diversified the company to stainless steel and printing industries. In 1995, the Group acquired Sai Office Supplies and after that they joined the retail sector.
6-William Ruto – Net worth $400 million
William Ruto is the current president of Kenya from September 2022 after succeeding Uhuru Kenyatta. He is one of the wealthiest leaders in the world, with an estimated value of $400 million to his name. He was deputy president from 2013 to 2022 and amassed the majority of his wealth through Real Estate, Hotel Industry and Insurance Business.
7-Samuel Kamau Macharia – Net worth $320 million
Samuel Kamau Macharia also known as S. K. Macharia, is the founder and chair of Royal Media Services, the largest private radio and television network in Eastern Africa.
He controls media in Kenya and has bought so many frequencies that anyone wanting to open a radio station must consult him.
Macharia is married to Purity Gathoni Macharia and the couple has six children (two girls and four boys). the wife Gathoni is the sister of former Kenyan Cabinet Minister Njeru Githae and Syracuse University Professor Micere Githae Mugo.
8-Peter Munga – net worth $280
Peter Kahara Munga is a businessman and entrepreneur in Kenya. He is the immediate past group chair of the Equity Bank Group, the largest bank holding company on the African continent. He is reported to be one of the wealthiest individuals in Kenya, with a personal net worth of $280 million.
9-Dr. James Mwangi -Net worth $170 million
Dr. James Mwangi is the Group CEO and MD of Equity Group Holdings Limited, a post he has held since 2019.
He is an accountant-turned-businessman, banker, and entrepreneur. His net worth of $170 million is earned from his significant stake in the Equity Group. He also has invested heavily in stocks and real estate.
10- Raila Odinga -Net worth $170 million
Raila, formerly the Prime Minister of Kenya between 2008 and 2013, has a net worth of $170 million. He has made his money mainly from politics and manufacturing. He owns East African Spectre and Pan African Petroleum Industrial Services. He has also invested in land and the manufacturing sector.
These are some of the super wealthy Individuals who control Kenya’s economy. If you are inspired, leave a comment below.
About the Author
Isaac Mbugua is a Senior Journalist and Digital News Writer at Diaspora Messenger News Media
