42 Billionaires In Kenya 2024 (Names & Net Worth Revealed!)

Knight Frank just released its global wealth report, ranking the wealthiest people in Africa, and apparently, Kenya ranks 4th behind South Africa, Nigeria, and Morocco. Nevertheless, everyone is asking if there are any dollar billionaires in Kenya, and if there are, who are they?

According to the Knight Frank report, there are 42 billionaires in Kenya. However, only three are dollar-billionaires: Vimal Shah, Narendra Naval, and SK Macharia. 

As you’ll note, the top two are of Indian descent, and so are 5 of the top 10. I’ll share the complete list with you. Interestingly, most of the people making the 42-member list are silent billionaires. You never hear about these people, probably because they don’t come from affluent families or just like to lie low.

Others, of course, a few politicians also make the list, which is expected of them, given how highly paid they are and the privileges they historically enjoy in the country. 

Here’s what you’ll learn: 

  • How many billionaires are in Kenya?
  • How many dollar billionaires are in Kenya? 
  • Who are the silent billionaires in Kenya?
  • Who is the richest person in Kenya?
  • Which country has the most billionaires?

Here we Go!

billionaires in Kenya

How Many Billionaires Are in Kenya?

According to the Knight Frank global wealth report I mentioned earlier, there are 42 billionaires in Kenya. These are individuals whose net worth is at least $7 million. With the current market, that should be at least Ksh 1 billion.

Here’s the complete list of 42 billionaires in Kenya: 

Billionaire NameEstimated Net Worth (USD)
1.Vimal Shah $1.6 billion 
2.Narendra Raval $1.3 billion 
3.Samuel Kamau Macharia $1.1 billion 
4.Uhuru Kenyatta $500 million
5.Naushad Merali $410 million
6.SN Gachoka $400 million
7.Peter Munga $280 million 
8.SK Pagar$240 million 
9.Shashi M Shar $220 million 
10.SK Rai $200 million 
11.Humphrey Kariuki $180 million 
12.Charles Njonjo $160 million 
13.James Mwangi $155 million 
14.Pius Ngugi $145 million 
15.Mike Maina Kamau $130 million 
16.SK Patel $120 million 
17.Andrew S Grove $110 million 
18.Chris Kirubi $100 million 
19.Samuel Kamau $90 million 
20.S. Ndegwa $80 million 
21.Joshua Kulei $70 million 
22.J.J Kamotho$60 million 
23.Mwai Kibaki $50 million 
24.S. Githuku $45 million 
25.S.M Kiruja $40 million 
26.S.W Njoroge $35 million 
27.S.M Mbogo $30 million
28.V.G Kariuki $25 million 
29.P.N Njiraini $20 million 
30.John Kibunga Kimani $17 million
31.Naushad Merali’s Daughter $15 million 
32.S.K Patel’s Wife $14 million 
33.S.K Macharia’s Daughter $12 million 
34.P.N Njiraini’s Daughter $10 million 
35.Narendra Raval’s Son $9 million 
36.James Mwangi’s Wife $8 million 
37.Andrew S. Grove’s Son $7 million 
38.Naushad Merali’s Son– 
39.S.K Patel’s Son– 
40.Vimal Shah’s Brother 
41.Vimal Shah’s Sister 
42.Narendra Raval’s Daughter 

How Many Dollar Billionaires Are in Kenya?

According to the earlier shared above table and Knight Frank, there are only three dollar billionaires in Kenya, and they are as follows: 

1. Vimal Shah (Estimated Net Worth: $1.6 billion)

Vimal Shah is the current chairman and CEO of Bidco Africa, a consumer goods multinational that deals with edible oils, margarines, cooking fats, laundry bars, detergents, hygiene products, and animal feeds, among many other consumables. 

In 2013, Vimal Shah was ranked the 40th wealthiest African and the number one richest person in Kenya. It has been ten years since then, and Shah seems to be holding the top post in the country with an estimated net worth of $1.6 billion, according to Knight Frank. 

2. Narendra Raval (Estimated Net Worth: $1.3 billion)

Narendra Raval is another Kenyan dollar billionaire of Indian descent. He currently serves as the chair of Devki Group, a private conglomerate that manufactures steel, cement, and aluminum. 

In 2015, Forbes ranked Mr. Raval the 46th richest African and the 2nd richest in Kenya, with a projected net worth of USD 500 million. It has been over eight years, and his net worth has doubled, according to Knight Frank. He is now worth at least $1.3 billion. 

How many billionaires are in Kenya

3. Samuel Kamau’ S.K.’ Macharia (Estimated Net Worth: $1.1 billion)

According to Knight Frank, the 3rd richest person and the third dollar billionaire in Kenya is Royal Media founder and chairman Samuel Kamau Macharia, popularly known as S.K Macharia. 

Royal Media is a dominant media house in Kenya in the T.V., radio, and entertainment spheres. 

It currently owns Citizen T.V., which enjoys a 62.5% local T.V. market share, and several vernacular T.V. and radio stations. SK Macharia also has interests in the real estate, transport, banking and agriculture sectors. 

Overall, he’s one of the most influential tycoons from Murang’a County. According to Knight Frank, S.K. is worth more than $1.1 billion. 

Who Are the Silent Billionaires in Kenya?

Kenya has many silent billionaires driving the regional economy, but you rarely hear about them. They don’t like to be on the cover of magazines or T.V. every so often. 

These people run multi-billion business empires and own many properties, but you’ll never hear them shouting about it. They fund charities but rarely are their names mentioned. I’m talking about these silent billionaires in Kenya:

1. Sameer Merali (Estimated Net Worth: $790 million)

Sameer Naushad, son of the late tycoon Naushad Merali, has an estimated net worth of $790 million. Of course, most of his fortune is an inheritance from his dad, but we can’t discount the fact that Sameer has almost single-handedly scaled up the Merali empire. 

Mr. Sameer is the CEO of Sameer Investment Business. He has controlling stakes in Sameer Africa PLC, Sameer Business Park, Ryce East Africa, Muthaiga Heights, Rivaan Center, and Sameer Industrial Park. 

2. Bhimji Depar Shar (Estimated Net Worth: $750 million)

Bhimji Depar is an industrialist of Indian origin who founded Bidco Group and is the chairman. Bidco currently operates in more than 13 African countries, showing its dominance. At one time, Forbes ranked Mr. Depar Shah as the wealthiest person in Kenya, which also goes for his son, Bidco CEO Vimal Shah, whom I covered earlier.

Bidco makes everything from edible oil and soaps to baking powder, detergents, and soft drinks. Bhimji Depar is currently worth at least $750 million. 

Which county in Kenya has most billionaires

3. Jaswinder Singh Bedi (Estimated Net Worth: $680 million)

Does the name Bedi ring a bell? Well, that’s a textile manufacturer based in Kenya whose founder is Jaswinder Singh Bedi.

Mr. Bedi is worth at least $680 million, a net worth that resonates with his stake in Bedi Textiles.

4. Mahendra Rambhai Patel (Estimated Net Worth: $430 million)

Ramco Group founder Mahendra Rambhai Patel enjoys an estimated net worth of at least $ 430 million. While that doesn’t make the real estate mogul a dollar billionaire, he’s undoubtedly heading there. 

Mr. Patel owns his net worth in real estate and print media, office supply, I.T., and hardware, among many other ventures. Ramco Group runs over 40 single companies in Kenya, Rwanda, Tanzania, and Uganda. 

5. Peter Kahara Munga (Estimated Net Worth: $280 million)

Peter Munga is the chief founder and former chair of Equity Holding Group. Mr. Munga, who hails from Murang’a County, is estimated to be worth at least $430 million, mainly owing to his stake in Equity Bank Group. 

But other than that, Mr. Munga has stakes in Britam, where he serves as a non-executive director. He is also a chairman at Pioneer Group of Schools, Freshco International Ltd, Murang’a Water & Sewerage Company, and Housing Finance Foundation. 

Moreover, he is a director at Britam Insurance Tanzania, Freshco Seeds Ltd, and Britam Properties Kenya. 

Other Silent Billionaires in Kenya

Here are some other silent billionaires driving the Kenya and regional economy worth noting: 

  • Safaricom, Nation Media Group and Kakuzi Investor John Kibunga Kimani 
  • Britam Kenya Managing Director Benson Wairegi 
  • Mt. Kenya University founder Simon Gicharu 
  • Bidco Group Chairman and founder Bhimji Depar Shah 
  • West Kenya Sugar owner Jaswant Singh Rai 

Who Is the Richest Person in Kenya?

Generally, it’s never clear who the richest person in Kenya is, as there are so many silent billionaires such as the ones I’ve mentioned. We can only use the information in the public domain when estimating net worth, even though the rich don’t always flaunt all their riches. 

But overall, different sources suggest that Sameer Naushad Merali, son of Naushad Merali, is currently the wealthiest man alive in Kenya today, with an estimated net worth of $790 million. 

Of course, that’s less than what Knight Frank estimated Vimal Shah, Narendra Raval, and SK Macharia to be worth a few years ago. 

Check out this list of the richest people in Kenya to see who is dictating and driving the Kenya economy. 

silent billionaires in Kenya

Which County in Kenya Has Most Billionaires?

According to Henley Global Citizens, Nairobi Country ranks 5th amongst African dollar millionaires in Africa. Their report confirms that Nairobi is home to at least 5,000 dollar millionaires, which strongly indicates that Nairobi also leads other counties in Kenya regarding billionaires.

Notable billionaires in Nairobi who make the 42 billionaire list I shared earlier include Vimal Shah, Narendra Raval, and Naushad Merali. 

I, however, also have to give a shout to Murang’a County, where some of the most notable billionaires come from. They include the following: 

  • Royal Media Group founder SK Macharia 
  • Equity Bank Founder Peter Kahara Munga 
  • Britam Managing Director Benson Wairegi 
  • Dye & Blair Chairman and former Nairobi governor aspirant Jimnah Mbaru 
  • Equity Bank Group CEO Dr. James Mwangi
  • Safaricom major shareholder John Kibunga Kimani 

Additionally, I should mention the late businessman Joe Kibe and Chris Kirubi, who came from Murang’a county, and the late estate investor Gerishon Kirima. 

Concluding Thought 

Now you know the number of billionaires in Kenya and their identity. Most of these people are self-made, which shows that it’s possible to become a billionaire in the country with a good mindset, hard work, a bit of risk-taking, and, more importantly, with God. 

We, the Cent Warrior family, would love to help you get to the next stage, and that’s why we’ve assembled some valuable literature on our online store that can help you get there. Check them out and kick-start your long overdue walk to financial liberation like the billionaires I’ve shared above. 

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Written by Alex

Written by Alex

I have passion in helping people Make, Manage, Multiply & Protect Wealth.Download my Free Guide to Financial Freedom >>[ GET IT HERE]<<