Old Money: List of The Oldest Kenyan Billionaires

Old Money: List of The Oldest Kenyan Billionaires

As the old saying goes, age is an issue of mind over matter. Or, as others would out it, age is just but a number. Some of Kenya’s wealthiest people made their money in the eighties and nineties, investing in various areas including banking, marketing, media and education.

In this list, WoK compiles some of the wealthiest old people in Kenya, and whose imprint is still relevant to date.

Manu Chandaria – 93 years

Manu Chandaria is a Kenyan businessman of Indian descent. The billionaire is a senior member of the Comcraft Group of Companies, a billion-dollar enterprise with a presence in over forty countries.

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He also sits on the boards of several prominent East African companies. His personal business interests are extensive and span the vast of the Kenyan economy as well as other fifty counties approximately.

Raila Odinga – 77 years

Former prime minister and ODM supremo Raila Odinga is a seasoned politician who has been in active politics for close to 40 years.

He is the son of former vice president Jaramogi Oginga Odinga. Raila generated his wealth from politics, business in oil and gas, land, manufacturing and other ventures.

His net worth is estimated net worth is in billions.

Mama Ngina Kenyatta – 89 years

Mama Ngina Kenyatta is the widow of Kenya’s first President Mzee Jomo Kenyatta and mother to Kenya’s fourth President Uhuru Kenyatta.

Mama Ngina, the mother of Kenya’s fourth President, Uhuru Kenyatta, has a net worth of estimated in billions of shillings spread in real estate, banking and hospitality sectors is among the three women that made it to the Africa’s billionaire club.

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Early this year, the Kenyatta’s were ranked the fourth richest family in Kenya.

Daniel Gachukia – 95 years

Gachukia grew up during a time of immense unrest during the Mau Mau uprising and education was not considered a very important tool.

While living with his aunt, he excelled in his primary school and was admitted to Machakos High School. He later left the institution for Kagumo High School before joining Makerere University in Uganda.

Upon his return, he became the Charge de’Affairs at the Kenyan Embassy in France. He would later rise through the ranks to the position of Chief of Protocol for nine years to 1974, the longest serving term in the role.

In 1974, Gachukia and his wife jointly set up the Riara Group of Schools, which is now estimated to hit an annual revenue of Ksh1 billion. In Nairobi alone, the school has expanded to include six independent institutions running from Kindergarten to tertiary level and offers both the 8.4.4 and British curriculum.

Read Also: The Gachukias: The Success Stories Of The Riara Group of Schools Founders Children

Dicky Evans – 76 years

Born in the United Kingdom, Richard Evans popularly known as Dicky Evans came to Africa by chance and ended up settling in Kenya.

Having fallen in love with the Kenyan coast, Dicky settled in Watamu. He engaged in various sporting activities like golf, fishing, and rugby. His love for rugby saw him feature for the Kenyan national team and the East African rugby team.

He later ventured into the hotel industry in November 1988 after convincing a British war veteran to sell him 22 acres of land which hosted a Seafarers hotel that was a favorite for locals.

He did a lot of upgrades and later renamed the establishment Hemingways in honor of famous author and explorer Ernest Hemingway. In 2012, he expanded his hotel collection opening up Ol Seki Hemingways in the Mara which is a top tourist destination in the country.

A year later, he opened Hemingways Nairobi in Karen, which is now one of the top hotels in the continent thanks to its exclusivity, exquisite service, and great ambiance. In addition to the luxurious hotels, the 75-year old billionaire also owns the UK rugby team Cornish Pirates.

Cumulatively, the Hemingways business collection is approximated to be worth Ksh 6 billion, making Dicky Evans one of the wealthiest hoteliers in the country.

Read Also: Meet Former Kenya Rugby Captain Who’s Now a Billionaire

Peter Munga – 79 years

Peter Munga is one of the wealthiest people in Kenya. Besides serving as the chairman of Equity Bank, for which he was paid Ksh 50 million as a send-off package after his retirement in 2018, Munga made his wealth through his other company Plum LLP which had shares at Britam.

In 2018, he sold the 13% stock he owned at Britam which culminated to Ksh 4.7 billion.

Pius Ngugi Mbugua-78 Years

The billionaire (born on 8 March 1944) is ranked among the wealthiest people in Kenya. He is married to Josephine Wambui Ngugi and Nairobi Women representative Esther M Passaris. The reclusive billionaire is the owner of Thika Coffee Mills, the Kenya Nut and is a shareholder in Kenya Alliance Insurance. He has also invested in sweet manufacturing, dairy farming, winery and Amazon Motors

Erastus Mungai – 94 years

James Erastus Mungai is the former Rift Valley Police boss. Now in his 90s, Mungai was a towering figure in the Kenyatta regime. After first President Kenyatta’s death in 1978, Mungai became a target of the State and went into exile.

Mungai gained wealth in his hey days, given his close relationship with Kenya’s founding father, the late President Jomo Kenyatta. He currently resides in his Engashura Farm in Nakuru, turning the expansive former colonial farm into a hub of commercial breeding of horses and dairy cows.

Harun Mwau – 74 years

John Harun Mwau (Born on 24 June 1948) is politician and businessman. He served as Kilome Member of Parliament and was also the first director of the now defunct Kenya Anti Corruption Commission Authority.

An article by Forbes, reported that he was a shareholder at Nakumatt and in 2016 sold his 7.7% stake for a reported sum of Ksh. 1.2 billion ($10 million). The businessman did not comment on these reports.

According to Olympics.com, he amassed his vast wealth from about seven companies of which he has served as director.

SK Macharia – 80 years

SK Macharia (born in 1942) whose full name is Samuel Kamau Macharia is a businessman and founder of the Royal Media Services. The media company owns and operates Citizen TV, Radio Citizen and a host of other stations. He is among the richest people in Kenya.

S.K Macharia also has other investments in Banking, Real Estate and Agriculture, and he currently ranks as one of the Richest Men in Kenya.

Peter Muthoka

Tycoon Peter Muthoka is one of the wealthiest people in the Ukambani region and a respected power broker. The tycoon backed President Kenyatta’s campaigns as well as the Jubilee parliamentary and civic candidates in 2017.

Mr Muthoka runs Acceler Global Logistics, one of Kenya’s largest transport and logistics firms. The company is involved in planning, implementing and operating complex supply chain solutions on a national, regional and global scale on behalf of several large companies in Kenya. The company offers different services including custom brokerage, warehousing, transport & distribution and ocean freight.

Apart from being in the logistics industry, the billionaire has interests and investments in other business ventures. He was the largest individual shareholder of CMC Motors – an automobile distribution company. He later sold off his stake in the firm in 2014 to Al-Futtaim Group, a United Arab Emirates (UAE) based company, raking in close to Ksh 2 billion. His shares in publicly listed companies alone are worth over Ksh 4.5 billion.

Mike Maina

Maina is the owner of the Marble Arch hotel located off Tom Mboya Street and Pelican Signs. Maina is so reclusive, that he keeps his life private and rarely appears in public. In fact, he rarely, if ever, been photographed in public. During court cases or appearances, he usually sends his lawyers to represent him.

Maina also runs Muthithi Investments Limited, which got court orders to demolish the houses in Kayole. He operates from his office on the fourth floor of Marble Arch Hotel and never returns calls from media houses or make television appearances.

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