A new report by Oxfam International has revealed a list of the top five wealthiest people in the country with their net worth running into tens of billions.
coming first on the list is Sameer Naushad Merali with Sh89.6 billion followed closely by Bhimji Depar Shah with Sh85 billion net worth.
Here is a list of the tycoons, their companies and investments:
- Sameer Naushad Merali
Sameer Naushad Merali is the heir to late businessman Naushad Merali who has investments in different sectors including telecommunications, manufacturing, banking, agriculture and real estate.
The Merali family owns the Sameer Africa Group which has the Yana Tyres, Sameer EPZ, Sameer Industrial Park, Sameer Africa Burundi, Sameer Africa TZ, Sameer Africa Uganda among others.
According to Oxfam International, Sameer Naushad Merali’s net worth is estimated at Sh89.6 billion.
- Bhimji Depar Shar
The report ranks Mr Bhimji Depar Shar as the second wealthiest in Kenya with a net worth of Sh85 billion with huge investments in the manufacturing industry.
For instance, Bhimji Depar Shah and his family own the Bidco Group of companies which is a renowned household consumer goods manufacturer.
Bidco products are manufactured, sold and distributed in 14 countries across Africa.
Oxfam International cites that the two richest people in the country have more wealth than 16.5 million Kenyans hence the massive gap between the poor and the rich.
- Jaswinder Singh Bedi
Jaswinder Singh Bedi comes in third as the wealthiest in the country with a net worth of Sh77.1 billion. His family has investments in the textile manufacturing industry among other sectors.
Mr Bedi has also been the chairman of different top organizations in the country.
Read: Who Owns Kenya? Here are some of the Country’s Largest Landowners
- The Kenyattas
The Kenyattas (President Uhuru Kenyatta and family) have been ranked the fourth wealthiest in the country with a net worth of 60.1 billion.
The Kenyatta family has huge investments in different sectors including Agriculture, manufacturing, banking, hospitality, land and even entertainment.
Last year, Kahawa Tungu detailed the list of those who won the largest land in Kenya with President Uhuru’s family topping the list.
It was established that President Uhuru Kenyatta’s family owns at least 30,000 acres of land Taita Taveta. This, the Head of State revealed during the 2013 Presidential Debate.
“My family and I own land; we’ve not acquired land illegally but through willing buyer-willing seller basis. There is nothing to prove that my family has illegally acquired land,” he said.
Thus, with investments in land and other sectors, rthe Kenyatta’s net worth definitely ranks them among the top five wealthiest in the country.
- Mahendra Rambhai Patel
Mahendra Rambhai Patel is ranked at position 5 among the wealthiest in the country with Sh48.7 billion net worth.
Patel’s family has huge investments in both the agriculture and manufacturing industry which amounts to billions.
For instance, the family is renowned for owning the Ramco Group of companies which is a conglomerate of over 50 companies within East Africa.
The companies focus on different sectors in Print, hardware, office supply and properties.
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