You must have seen rich and even richer individuals, but have you ever seen prosperous families?
Family wealth is an embodiment of values. It is an indication of authenticity, tradition, and lineage. Unlike rich individuals, families often symbolize a universal appeal. Usually, we measure family wealth by considering the wealth remaining after the next five to six generations. The wealth that is transferred from one generation to another somewhere suggests royalty as well.
However, here we have brought to you the catalog of the “Top 10 Richest Families in Kenya.” After going through the list, you will get an idea of why we generally say that politics is so alluring. But it is still amazing that Kenya’s 1 percent wealth is more than the aggregate wealth of certain African countries.
The truth is that in Kenya, a major part of the wealth lies in the hands of the private sector. The country is also well known for its real estate strategies.
Despite knowing the fact that no Kenyan has even entered the list of the richest people in the world, we are still glad and astounded to learn about which families have stolen the title of the richest families in Kenya in 2023. So, without any further delay, let us dive into our content.
List of The Top 10 Richest Families In Kenya 2023
- Moi Family – $3 billion
- The Odinga Family – $2.3 billion
- Philip Ndegwa Family – $1.2 billion
- Biwott Family – $1 billion
- Kenyatta Family – $500 million
- Kirubi Family – $300 million
- The Chandaria Family – $270 million
- SK Macharia Family – $150 million
- The Nyachae Family – $100 million
- Kibaki Family – $50 million
1. Moi Family
The Moi Family is estimated to be the richest family in Kenya. However, have you ever come across any news regarding the Moi family, their wealth, or their magnificent properties? Their assets are distributed around the globe. The retired President, Gideon, Moi’s youngest son, is one of the shareholders in the Kent Ship, Sieliel Properties Ltd, Sudbury Ltd, Westfield International Ltd, Metipso Services Ltd, Homestead Enterprises, Giant Forex Bureau, Maritime, Revak Ltd, Sudbury Investments, Maternity, and Chesco Ltd.
The family also owns Eagle Airlines, Fresh Produce Ltd., Car Track Kenya Ltd., Equatorial Bank, Chemusian Company, cable and wireless Signon Freight, and The Sasine Group of Farms.
The one fact about the family that has perplexed the world is that they work as engineers for a duty-free company. As per many reports, the Mois are also the engineers at Safaricom, Chester House, and Tobacco Farm in Malawi. They also own Mugoya Construction, Asian Roses, First Force Security Services, Equity Stock Brokers, Giro Bank, Regent Management, and Safariland Club,
With everything that they own, it is said that the Moi family is worth $3 billion.
2. The Odinga Family
Raila is a renowned name in Kenya, and he is one of the richest politicians in Kenya. As we mentioned earlier, these politicians have amassed a major sum. However, apart from politics, he and his family owns the East African Spectre Company and also African Petroleum Industrial Services.
As per sources the popular politician of Kenya, Raila Odinga’s net worth is estimated at around $2.3 billion.
3. Philip Ndegwa Family
Philip Ndegw was an economist and the ex-governor of Kenya’s Central Bank, and according to several reports, Ndegwa was the first person to ever amass a fortune of $1 billion in Kenya.
Undeniably, he was one of the most affluent men in Kenya. His family has therefore invested in several economic sectors, including banking and insurance, real estate, agriculture, and others. They have tons of shares in the NIC Bank, with a stake of 25%.
Andrew Ndegwa and James are the two sons of Philip Ndegwa, and they are supposed to enjoy the wealth created by their father. It is estimated that the Philip Ndegwa family has a net worth of $1.2 billion.
4. Biwott Family
You must have heard about Nicholas Biwott, one of the top 10 Kenyan billionaires. It is needless to say that his family would be included in the list of the 10 richest Kenyan families. Biwott was a business magnate, but he left for the heavenly residence in 2014.
The family owns the Yaya Center as well as properties outside Kenya, which enables them to bag enough cash. It has one of Australia’s biggest ranches and one of Israel’s biggest hostels.
However, the Biwott family is worth $1 billion.
5. Kenyatta Family
The Kenyatta family is the family of the nation’s founding fathers. The family has enough land, and apparently, they are rich because they occupy it. They have also invested in areas like telecommunications, transportation, agriculture, banking, tourism, real estate, tourism, mining, and energy.
If you’ve heard of this family, you probably anticipated it to be on this list of the 10 richest families in Kenya. They are currently worth $1 billion. Uhuru Kenyatta, Kenya’s fourth president, alone has a net worth of $500 million.
6. Kirubi Family
The Kirubi Family comes sixth on the list of the top 10 richest families in Kenya in 2023. It is the family of the late Christopher Kirubi, who was a business baron. He owned the company named Centum Investment Company, and he was its director.
Also, Kirobi was the major stakeholder in the Haco Tiger brands. He was also one of the wealthiest businessmen in Kenya. After his death, his family inherited the money, which was more than a fortune.
According to many resources, the Kirubi family’s net worth is $300 million. He has two children, Robert Kirubi and Maryanne Kirubi. The family owns an impressive amount of land in Nairobi. Mr. Kirubi was so rich that he left his children millionaires.
7. The Chandaria Family
By investing in sectors like insurance, manufacturing, banking, transportation, telecommunications, and real estate, the Chandaria family has earned nearly $270 million.
The patriarch of the family has been one of the richest people in Kenya for a long time.
8. SK Macharia Family
SK Macharia is the proprietor and creator of Eastern Africa’s largest private television network, Royal Media Services. He also owns the two most popular TV channels in the country, which include Radio Citizen and Citizen TV.
They are one of the very few families who own a helicopter. But, how rich are they?
The SK Macharia family is worth a minimum of $150 million. But how did they earn this much? Macharia was Kenya’s first tissue paper manufacturer, and he also founded Madhupaper International Kenya Ltd.
Although Rosy was their key product, Madhupaper gained traction later. Other than these, the SK Macharia family had a hand in agriculture and banking. So, it is obvious that this family would have such an impact on its society and in general, as they have a powerful weapon in abundance, which is money.
9. The Nyachae Family
We are nearing the completion of the Top 10 Richest Families in Kenya 2023 list. Before winding up, we have two more families to praise, and the one group that has held the ninth position is the Nyachae family.
Nyachae’s story is a lot different from the stories of the other nine rich families. He initially took his first step by starting a small bakery. But he eventually amassed his fortune with his holdings in Sansora.
Slowly, he began to make investments in telecommunication, transportation, banking, Kenyan insurance, agriculture, industry, and real estate. He is the owner of tea farms in South Africa as well as Zimbabwe.
Also, Nyachae owns the largest Australian ranch. Therefore, he managed to bring his family to the list of the Richest Families in Kenya with a minimum net worth of $100 million.
10. Kibaki Family
Last but not least, we have the Kibaki family as the tenth family on the list of the top 10 richest families in Kenya in 2023. They are one of the richest people in Kenya.
After the patriarch became an economist and the third president of Kenya, he extended his hands to other industries like real estate, banking, agriculture, tourism, and more.
However, the net worth of the family as of this writing is estimated to be $50 million.
Final Take
A few seconds ago, you must have realized where Kenya’s wealth is concentrated. Of course, it is in the hands of industrialists and politicians. As a result, it is clear that the two largest enterprises in Kenya are the aforementioned two categories. People often comment that the Moi and Kenyatta families would have been nothing if they had no ties with the politics of the country.
Anyway, the family patriarch has been doing their best so that they can invite their families onto the rich list.
According to a recent study conducted by Oxfam International, the top two opulent individuals in Kenya own a higher net worth than the combined wealth of roughly 16 million Kenyan citizens, highlighting the enormous gap between the haves and the have-nots.
However, it is still considered an honor to own lots of properties and to shine in the business world, as they bring reputation to the individual as well as their respective families.
