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According to a Knight Frank Wealth Report, Kenya has averaged 110 Ultra High Net Worth Individuals (UHNI) over the last decade. That means at least 110 Kenyans are estimated to be worth at least $30 million, and it is no surprise that these individuals make the richest families in Kenya.
The report shows that Sameer Naushad Merali’s family, Bhimji Depar Shah’s family, Jaswinder Singh Bedi’s family, Kenyatta’s family, and Patel’s family are Kenya’s five richest families.
These families also produce the richest individuals in the country, which isn’t surprising. Of course, there could be some silent billionaires in the country who could be worth more, but we have to go with the data that’s already out there.
Speaking of data, 1,755 Kenyans are estimated to be worth at least $5 million, which equals 41% of the country’s GDP. So, there’s no doubt that the gap between the rich and the poor is enormous.
It’s, however, bridgeable, and I’ll direct you to some resources that could help you do it – at least from your end. Here’s generally what we shall cover:
- Which is the richest family in Kenya in 2023?
- Which is the richest family in Kenya, according to Forbes?
- Who are the richest people in Kenya?
- Who are the richest children in Kenya?
- Which is the richest community in Kenya?
- How many billionaires are in Kenya?
Let’s dive in!
In a hurry? Below is a list of the wealthiest families in Kenya:
An Overview of the 5 Richest Families in Kenya and Their Net Worth
| – | Family | Estimated Net Worth | Main Source Of Wealth |
| 1. | Sameer Naushad Merali’s Family | At least $790 million | Sameer Group |
| 2. | Bhimji Depar Shah’s Family | At least $750 million | Bidco Africa |
| 3. | Jaswinder Singh Bedi’s Family | At least $680 Million | Bedi Textile |
| 4. | Kenyatta’s Family | At least $530 million | Brookside, Beta Healthcare, Peponi Group of Schools, and NCBA real estate, among others |
| 5. | Patel’s Family | At least $430 million | Ramco Group |
Who Is the Richest Family in Kenya 2023?
Honestly, the truly rich don’t flaunt their wealth, and rarely do they reveal their actual net worth. They are mostly silent billionaires. However, according to Oxfam, the families below are the top 5 richest:
1. Sameer Naushad Merali’s Family (Estimated Net Worth – $790 Million Plus)
Sameer Naushad is the son of the late business Tycoon Naushad Merali. According to Oxfam, Mr Naushad and his family own majority stakes at Sameer Group, which runs the Industrial Park, Sameer Business Park, Sameer Investment, Ryce East Africa, and Rivaan Center, among many others. The family is worth at least $790 million.
2. Bhimji Depar Shar’s Family (Estimated Net Worth – $750 Million Plus)
Bhimji Depar Shah is a Kenyan of Indian descent who founded Bidco Africa. He is the father of Bidco President Vimal Shah. At one point, Vimal Shah was the richest person in Kenya according to Forbes. So you can imagine how cash-rich the family is.
According to Oxfam, the Depart Shah’s family is at least $750 million richer. Of course, most of its wealth is due to Bidco, whose presence in 13 African countries is inconceivable.
Bidco makes everything from beverages and edible oils to detergent and animal feed. According to Forbes, Bidco Group averages over $300 million annually as a gross avenue.
3. Jaswinder Singh Bedi’s Family (Estimated Net Worth – $680 Million Plus)
Textile giant Jaswinder Singh Bedi, who owns Bedi Textile, and his family form the 3rd richest group in Kenya. According to Oxfam, they are estimated to be worth at least $680 million.
4. Kenyatta’s Family (Estimated Net Worth – $530 Million Plus)
The Kenyatta family is the only family associated with two former serving presidents and is the 4th wealthiest family in Kenya. According to Oxfam, the Kenyattas are worth at least $530 million, and their interests range from agriculture, telecommunications, education, and real estate to mining, tourism, banking, and energy.
The family owns Peponi School, Beta Healthcare, Brookside Dairy, NCBA Bank, and Media Max Limited, among others. The family also owns businesses in France and Germany and modern pre-parties in the United States and UK.
5. The Patel’s Family (Estimated Net Worth – $430 Million Plus)
According to Oxfam, the 5th richest family in Kenya is the Patel family, and we are talking about the Mahendra Rambhai Patel family, who owns Ramco Group.
Ramco Group owns over 40 companies in Kenya, Tanzania, Rwanda and Uganda. The most notable are Ramco Printing Works, Office Mart Limited, Sai Office Supplies Limited, ASL Limited, Multivista Kenya Limited, and Ramco Ceramics Limited, to name a few.
Oxfam estimates the Patel family to be worth at least $430 million, and it’s easy to understand why.
Other Notable Rich Families in Kenya
In addition to the top 5 families, we still have several other notable affluent families whose net worth isn’t apparent. What’s clear, however, is the fact that they are rich owing to the number of assets and businesses they own. They include the following families:
6. Moi Family
The second president, Moi, is believed to have accumulated more wealth than anyone else during his 24-year tenure. Yet, no one knows how much the Moi family is worth. We, however, know they have deep pockets, estimated to be worth billions of dollars.
Currently, the family has interests in Eagle Airline, Equatorial Bank, First American Bank, Fresh Produce Ltd, Safari Land Club, Sasini Group, Kabarak University, Moi Kabarak High School, and Paradise Holdings, to name a few.
7. Manu Chandaria’s Family
Manu Chandaria is a celebrated Kenyan businessman of Indian descent, and his family owns Comraft Limited, a Conglomerate operating in the real estate, hospitality, and manufacturing sectors.
The family business extends beyond Kenya. Under Chandaria Industries, which manufactures toilet tissue papers and soft napkins, Rosy sanitary pads, and other hygiene products, the family rakes in millions.
8. Philip Ndengwa’s Family
The late Kenyan economist Philip Ndengwa, who also served as CBK governor, was well-heeled and believed to have left a bounty inheritance. The Ndengwa family has investments not only in the banking sector but also in air transport, agriculture, insurance, and real estate, to name a few.
9. Biwott’s Family
The late Nicholas Biwott, alias Total Man, might have been a low-profile man but genuinely moneyed. The late Kenyan politician, whose time in Kenyan politics dates to the Moi era, had built an enviable business dynasty touching on almost all sectors of the air economy.
From real estate, mining, and air transport to tourism, construction, and telecommunication, the Biwott family owns dozens of companies worth billions of Kenyan shillings.
10. Kirubi’s Family
Media Mogul Chris Kirubi might be no more, but everyone knew him as a money bag. After all, Kirubi was a major shareholder at Centum Investments and owned several businesses such as Capital Media Group, Bayes East Africa, DHL Kenya, International House, to name a few.
Kirubi also has stakes in KCB Group, Haco Industries, Bendor Estate and UAP Insurance.
Who Is the Richest Family in Kenya Forbes?
Lately, Forbes hasn’t released any list ranking the richest families in Kenya. The last time they did that was in 2015 when Forbes ranked Bhimji Depar Shah and Family at number 31 in Africa with an estimated net worth of $700 million.
Things are, however, different now, and as shared earlier, the Depar Shahs family is worth at least $750 million, but they aren’t the richest. They are second to Sameer Naushad’s family, the family behind Sameer Group.
Who Are the Richest People in Kenya?
According to a report by the Business Daily, here are the top 5 richest people in Kenya today:
- Sameer Group CEO Sameer Merali ($790 million)
- Bidco Group founder Bhimji Depar Shah ($750 million)
- Bedi Textile founder Jaswinder Singh Bedi ($680 million)
- Former president Uhuru Kenyatta ($530 million)
- Ramco Group founder Mahendra Rambhai Patel ($430 million)
Who Are the Richest Children in Kenya?
Unsurprisingly, the richest children in Kenya come from the wealthiest families. They are sons and daughters of the most powerful politicians and business tycoons, and some are known to own and run their business empires. I’m talking about the following:
- Anerlisa Muigai (daughter to current Nakuru senator and Keroche Breweries founder Tabitha Karanja
- Ian Waiguru (son to Kirinyaga governor Ann Waiguru)
- Saumu Mbuvi (daughter to foreigner Nairobi governor Mike Sonko)
- Alvin Kabogo (son of former Kiambu governor William Kabogo)
- Charlene Ruto (daughter of President William Ruto)
- Nick Ruto (son of President William Ruto)
- Muhoho Kenyatta (son to former President Uhuru Kenyatta)
- Ngina Kenyatta (daughter to Former president Uhuru Kenyatta)
Which Is the Richest Community in Kenya?
When considering the wealthiest people or families in Kenya, names from the Kenyan Asia and Kikuyu communities will always pop up. Look at my top 10 list, for example. 4 out of the top 5 affluent families are of Indian descent, and if you factor in Manu Chandaria’s family, that makes it 5 out of 10.
As for the Kikuyu community, at least three families are represented in the top 10 (the Kenyatta family, Philip Ndengwa’s family, and the Kirubis), and of course, there could be many others.
Understandably, these two communities (Asian and Kikuyu) own most of the businesses and properties in Kenya. You can’t, however, discount the contribution of other equally industrious communities like the Kalenjin, Luo, Meru, Kamba, Luhya, Kisii, Somalis, and Maasai.
How Many Billionaires Are There in Kenya?
Judging by the current dollar rate, one needs to be worth at least $7 million to be considered a billionaire in Kenya. Interestingly, 42 individuals meet the threshold, and they are currently the wealthiest single individuals in the country.
Bidco Chairman Vimal Shah, Devki Group founder Narendra Raval, and Royal Media Group Owner S.K Macharia are topping the list. Others include former president Uhuru Kenyatta, Equity Group Co-Founder Peter Munga, and Equity Group CEO Peter Mwangi, among many others.
Concluding Thought On the Richest Families in Kenya:
Now you know who owns Kenya. Our goal, however, is not to intimidate or downheart you. No! It inspires you and gives you a reason to believe you can make a name for yourself and your family.
For that reason, we’ve assembled many resources on our online store that can help you get the motivation and inspiration you need to turn your financial trajectory in a direction that can one day enable you to claim a spot among the who is who in Kenya.
