How Rai’s wealthy grandson lost Sh30 million yesterday
Expensive sports played by rich Kenyans!
From the patriarch Tarlochan Singh Rai, the Rai family has built one of the most expansive family businesses with companies such as West Kenya Sugar (which owns Kabras Sugar), Timsales Limited, Menengai Oil Refineries, RaiPly, and Webuye Panpaper.
While the Rais work hard, they also unwind in style as they are common figures in the capital-intensive rallying business.
Guru Nanak Rally Machakos
On Sunday, Rai’s grandson Amaanraj Rai was involved in an accident that burnt down his rally car burnt down to ashes at the Guru Nanak Rally held in Machakos.
Rai was driving a Ford Fiesta R5, a high performing rally car that has costs about Sh30 million to buy and ship to Kenya.
Amaanraj and his navigator, however, escaped without injuries.
Ford Fiesta R5 cost
A spot check by Pulselive.co.ke revealed the Ford Fiesta R5 costs about Sh22 million before shipping and custom duty is paid.
To ship and clear the car with the KRA customs departments would cost about Sh10 million meaning the car fetches for at least Sh32 million before any modifications are done.
Local insurance companies do not insure rally cars for damages (third party insurance is available though) given the high risk, meaning the motoring enthusiast lost his entire investment in a matter of minutes.
Rai is the son of Sarbjit Rai, one of the greatest Kenya rally drivers in the 1980's.
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