Details have emerged about the extent of the late billionaire Chris Kirubi’s wealth which is reported to have been Sh20 billion.
Kirubi's Will reveals bank balances, total wealth and inheritance instructions
Kirubi excluded his ex-wife, baby mama from the Will
According to documents that have been shared for the very first time, the sum of land owned by the late Kirubi was valued at Sh3.17 billion.
The property was spread throughout the country in Loresho (Sh2.25 billion), Muthaiga, Diani Beach, Vipingo Ridge, Mtwapa Creek and a Sh20 million apartment in Tamarind.
His car collection was valued at Sh108 million and it includes a Mercedes Benz Maybach, Bentley Continental GT, Range Rover, and a Mercedes Benz SUV among others.
Kirubi’s available bank balances at the time of his death was Sh27.89 million with invested funds totalling Sh257.3 million and Sh42 million tied up in categories such as Two Rivers Development and a final payment from Chase Bank.
His accounts were also expecting Sh364 million from the sale of Phoenix shares, Centum dividends and French African Fund.
In terms of quoted shares, the businessman left Sh3.4 billion shares in Centum and Sh1.6 million shares in KCB Bank.
His unquoted shares took the largest share of his wealth totalling Sh12.8 billion distributed in Bendor Estate (Sh5.6 billion), Bayer East Africa (1.8 billion), International Life House (1.06 billion), Kiruma International (Sh1.16 billion), Smart Applications (Sh643 million).
Other firms in which Kirubi also had shares include Haco Industries, MUA Insurance, Document handling East Africa and Eagle Africa Insurance.
How his wealth was shared
The billionaire shared his immense wealth among his family - son, daughters, brothers and sisters.
His children, Robert and Maryanne got the lion’s share of the wealth (80%) while their step sister Fiona Wambui Kirubi got 9.95% of the wealth. Kirubi also left a Sh4 million gift for his last born daughter.
His siblings Anthony Maina, Michael Kirubi, Elizabeth Waithera and Salome Mburu will split 20% of Kirubi’s wealth among themselves.
The billionaire's brainchild, Haco Industries will be run by Maryanne who was already serving as its Managing Director.
She will also be expected to also tend to his interests in media, technology, advertising, stocks and agriculture.
Filling her father’s shoes will take great determination and sacrifice due to the complexity and extent to which he diversified his portfolio.
Chairman, as he was often referred to, was also a force to reckon with in the country’s social-political and economic front, which contrasts his daughter’s lifestyle which for a very long time was kept under wraps.
She operated two private businesses; a restaurant called Secret Garden on Riverside Drive in Nairobi and another at Two Rivers called Opul.
“My father adored me…in my father’s life, I was the boss and I would have all of him to myself,” Ms Musangi shared during her father’s burial in 2021.
She announced that the family would establish a foundation in honour of the departed businessman to focus on education, innovation and technology, health (specialising in diabetes and cancer) and agriculture.
“I promise to do my best and when I’m stuck, I will seek those in this gathering — who included representatives of the Kenyatta family, business magnates from the world and government representatives — to hold my hand,” she said in her parting shot.
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