Revealed: How Chris Kirubi distributed his Ksh.20 billion wealth

Revealed: How Chris Kirubi distributed his Ksh.20 billion wealth

File image of late industrialist Chris Kirubi. PHOTO | COURTESY

  • Court records reveal that the late businessman owned at least six vehicles worth around Ksh.108 million.
  • Kirubi also reportedly owned land worth over Ksh.3 billion.
  • The business magnate held shares in numerous companies across various industries.

Just how rich was the late industrialist Chris Kirubi, you ask? Well, let me put it into context:

In June 2013, then U.S President Barack Obama was on a tour of three African countries and when he landed in the neighbouring Tanzania, he invited Kirubi over there for a meeting.

That’s a meeting anybody would kill for, but not Kirubi. The media mogul issued a public statement turning down President Obama’s invite.

Question: Do you know how rich you need to be to shoot down the Head of State of the most powerful country in the world with a “No, Thanks”? Answer: Kirubi rich!

Forbes, during a past profile of Kirubi, listed him as being worth about $300 million (over Ksh.34 billion); but court papers now say that he could have been worth around Ksh.20 billion.

That the billionaire was a man who loved the finer things in life is in no doubt, which is why it would only make sense that he drove around in some of the most expensive cars money could buy.

The court records reveal that the late businessman owned at least six vehicles worth around Ksh.108 million, among them: Mercedes Benz Maybach S500 (Ksh.29 million), Bentley GT (Ksh.28 million), and a Range Rover (Ksh.25. 6 million).

Kirubi also reportedly owned land worth over Ksh.3 billion in such areas as Loresho (Ksh.2 billion), Kwale (Ksh.111 million), as well as two other Ksh.60 million properties in Muthaiga and Mtwapa.

The business magnate held shares in numerous companies across various industries, these include KCB (Ksh.1.6 billion), Haco Industries (4.5 million shares worth Ksh.801 million), and Bendor Estate Limited (Ksh.5.6 billion).

He also had shares in Smart Applications International Limited (Ksh.641 million), Two Rivers Development (Ksh.214 million), and Bayer East Africa (Ksh.1.8 billion).

Other companies in which the mogul held six-figure shares included Kenya Re, Kenya Airways, Mumias Sugar Company, Diamond Trust.

The court documents stated that he had two accounts, one holding about Ksh.3 billion and a second with Ksh.177 million.

Kirubi, in his will, left 80 per cent of his estate to his son Robert Kirubi and daughter Mary Anne Kirubi. The two have however mutually agreed to give 9.95% of their shares to Kirubi’s second daughter Fiona Wambui Kirubi, who had only been bequethed Ksh. 4 million in the will.

The late businessman left the remaining 20 per cent of his estate to his siblings; brothers Anthony Maina and Dr. Michael Kirubi, and sisters Elizabeth Waithera and Salome Mburu.

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