When business mogul Christopher John Kirubi was alive everyone assumed he was very wealthy. This was based on his high life and love for fine things. But how much was Chris Kirubi’s net worth?
Other than Forbes, which estimated that Chris Kirubi’s net worth was around Sh40 billion, it was only God, himself, and lawyers who knew how much the businessman was worth. Kirubi died on June 14, 2021.
Court records however show that Chris Kirubi’s net worth was Sh20 billion before he died. His priciest assets include land, shares, and top-of-the-line cars.
This figure stands in contrast to the Sh40 billion estimate previously reported by Forbes, shedding light on the mogul’s wealth and assets that spanned various sectors of the economy.
Court records unveiled that Christopher Kirubi had accumulated land holdings valued at a total of Sh3.1 billion. He had real estate assets like a piece of land in Loresho, worth an impressive Sh2 billion, and another in Kwale estimated at Sh111 million.
Additionally, he also owned two other properties in Muthaiga and Mtwapa which were valued at Sh60 million each.
Shares in Listed Companies
The business magnate’s extensive portfolio included shares in several listed companies, totaling Sh3.4 billion. His investments spanned across diverse industries such as transport, banking, insurance, sugar, farm and pharmaceutical chemicals, and the media sector.
Notable holdings included shares in companies like Kenya Re, Kenya Airways, and Centum Holdings Ltd, the owners of Two Rivers Mall in Nairobi – the largest shopping mall in sub-Saharan Africa out of South Africa.
Others include the Mumias Sugar Company, Diamond Trust Bank, Nation Media Group, Standard Chartered Bank, British American Tobacco (BAT), and NCBA.
Shares in Unlisted Companies
Court documents revealed that Christopher Kirubi’s shares in unlisted companies were estimated to be worth an impressive Sh12.7 billion. These investments encompassed a wide array of sectors, with substantial stakes in Bayer East Africa Limited, Haco Industries, International House Limited, Kiruma International Limited, and Bendor Estates Limited.
Ventures in the Technology Sector
Christopher Kirubi made a substantial investment of over Sh641 million in Smart Applications International Limited in the technology sector. This ICT (Information and Communications Technology) company maintained a prominent presence in multiple African countries. This includes Rwanda, Zambia, Tanzania, Uganda, Malawi, and the Democratic Republic of Congo (DRC).
He maintained two accounts, one holding a substantial amount of approximately Ksh.3 billion and a second account with Ksh.177 million.
Inheritance and Family Distribution
In his last will, Kirubi allocated 80% of his estate to his son, Robert Kirubi, and his daughter, Mary Anne Kirubi.
Notably, the siblings chose to share 9.95% of their shares with Kirubi’s second daughter, Fiona Wambui Kirubi. She had originally been bequeathed Ksh. 4 million in the will. The remaining 20% of his estate was designated for his siblings. This includes brothers Anthony Maina and Dr. Michael Kirubi, and sisters Elizabeth Waithera and Salome Mburu.