Top 10 Richest Families in Kenya 2024

Here is a list of the Top 10 Richest Families in Kenya 2024. All of these families possess substantial financial assets, and have successful investments in stocks, real estate, and businesses.

top 10 richest families in kenya 2024

It is also worth noting that these families hold more wealth than some small countries in Africa.

In a particular order, these are the Top 10 Richest Families in Kenya 2024

1. Moi Family

The Moi Family is the Richest family in Kenya. According to the latest Forbes Rankings, the Moi Family has a net worth of more than 3 Billion American Dollars.

The main source of wealth for this family include; First American Bank, Trans-National Bank, Equatorial Bank, KTN, Regent Management, Chesco Limited, Kabarak University,  Kiptagich Tea Estate, Kabarak High School, Fresh Produce Ltd, and Real Estate just to mention a few.

The Moi Family also owns large chunks of land across different parts of Kenya including;

  • Bahati, Nakuru county – 20,000 acres
  • Kabarak – 1,600 acres
  • Olenguruone, Nakuru county 20,000 acres
  • Molo – 20,000 acres
  • Ol Pejeta – 50,000 acres

2. Kenyatta Family

The Kenyatta Family is the second Richest family in Kenya. Based on the latest financial reports, the family is worth a whooping 2.5 Billion American Dollars

The Kenyatta Family has investments in Brookside, Peponi school, Beta Healthcare, NCBA, Mediamax Group, Heritage Group of Hotels, Timsales Holdings, and Chartis/AIG Insurance.

The Kenyatta Family is also among the wealthiest families in Kenya because they own more than 500,000 acres of land across Kenya.

3. Philip Ndegwa Family

The Philip Ndegwa Family has deep pockets that amount to more than 1.8 Billion Dollars. The Ndegwas main source of wealth include ICEA Lion, Riverside Park, NCBA, and AmBank. The Ndegwas also have a 24.98% stake in NIC Bank valued at over 5.22 billion as of 2022.

Despite Philip Ndegwa passing on 7th January 1996, his family seems to be financially disciplined because they have been able to retain and grow the wealth that was left behind.

4. Chandaria Family

The Chandaria Family is the 4th Richest Family in Kenya. The family is headed by Kenyan Businessman Manu Chandaria. In total, Chandaria Family has a total networth of about 1.7 Billion American Dollars.

Some of the companies and businesses that have been associated with the Chandaria Family include;

  • Mabati Rolling Mills Ltd.
  • Insteel Limited.
  • Uganda Baati Limited (Uganda)
  • Shumuk Aluminium (Uganda)
  • Kenindia Assurance Company.
  • Kaluworks Limited.
  • Metal Products Limited and Aluminium Africa Limited (Tanzania)

The Chandaria Family is also behind Chandaria industries limited which produces a range of products such as;

  • Velvex Hand Sanitizer
  • Velvex Kitchen Towels
  • Toilex
  • Nice & Soft
  • Dawn Pekee
  • Rosy
  • Royale

5. The Biwott Family

The Biwotts are arguably among the Richest families in Kenya. The head, Nicholas Biwott was among the most power cabinet secretaries during the Moi era.

According to the latest Forbes report, The Biwott Family have a business empire that is worth more than 1.1 Billion American Dollars.

Some of the companies that have been linked with the Biwotts include;

  • Barsirim Investment
  • Rono Limited
  • Air Kenya Aviation Limited
  • Yaya Centre (Sold out recently)
  • Pete Aviation and Electronics
  • HZ Group of Companies
  • 10,000 hectare ranch in Australia
  • Grand Diani Reef Hotel
  • Westmont

6. Bhimji Depar Shah Family

Bhimji Depar Shah is the father of Vimal Shah. He is the founder of Bidco Africa, a multinational consumer goods company headquarted in Thika.

At the time of writing this post, this family has a net worth of more than 750 Million American Dollars. This makes it the 6 Richest Family in Kenya.

Bidco is the largest oil manufacturer in Kenya. It controls more than 24% of the oil market. Some of the oil brands associated with this company include Kimbo Premium, Ufuta, Elianto Oil, Golden Fry and SoyaGold Soya Bean Oil.

7. Naushad Merali Family

The Naushad Merali Family is the 7th Richest Family in Kenya. The family is worth a whooping 600 Million dollars.

The main source of wealth for the Merali Family is Sameer Africa. In the past, this family has been associated with Kencell (Now Airtel).

Other business ventures that have been associated with the Naushad Merali Family include construction, finance, agriculture and information technology.

8. Joshua Kulei Family

Joshua Kulei was one of the most powerful men in Kenya during the KANU regime. He served as Moi’s personal assistant. According to a Knight Frank report, the Kulei family has a networth of more than 500 Million Dollars.

The Kulei family has made huge investments in Agriculture, Marketing, and Banking. Among the family’s possession and stake include; Trade World Kenya, Bamburi Cement, CMC Holding, CFC Bank, and the Kenya Television Network just to mention a few.

9. Chris Kirubi Family

Chris Kirubi was among the Top Ten Richest People in Kenya. He was a very succesful business man and by the time of his death, he left properties worth 400 Millon Dollars. The property was well divided among his family members.

Some of the companies and businesses that can be associated with the Chris Kirubi Family include;

  • Nairobi Bottlers Limited
  • Capital FM (98.4)
  • Kiruna International Limited
  • Haco Industries Kenya Limited
  • International House Limited
  • Centum Investments

10. S.K Macharia Family

Samuel Kamau Macharia alias S.K is also among the Top Ten Richest People in Kenya. His family comes in as the 10th Richest Family in Kenya. Currently, the S.K Family is worth more than 365 Million American Dollars.

The main source of wealth for the S.K Macharia is Royal Media Services, the largest private radio and television network in Kenya. 

Royal Media Services is the home for Citizen TV, Citizen Digital, Inooro TV, Radio Citizen, Ramogi FM, Inooro FM, Musyi FM, Chamgei FM, Muuga FM, Egesa FM, Bahari FM, Mulembe FM, Wimwaro FM, Sulwe FM, Hot 96 and Vuuka FM.

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