The death of entrepreneur and industrialist Chris Kirubi who died at the age of 80 has left many in shock. His name is big thanks to his vast wealth. This has left many with one big question. How rich and wealthy was Chris Kirubi?
While many mourn, him it is his vast wealth that makes his name a treasure. Kirubi was a rich man with investments in media, manufacturing, property management, insurance sectors.
In 2011 Forbes ranked him as the second richest Kenyan. In their estimation, Kirubi was the 31st richest African with a net worth of USD300 million. In 2012, Forbes however dropped the billionaire from the list of Africa’s 40 richest.
At the time of his death Kirubi was the Chairman of Haco Tiger Brands Kenya Limited, Capital Media Group, International House Limited, DHL Worldwide Express Limited, Nairobi Bottlers, and Smart Applications International Limited among others.
Chris Kirubi was also the Deputy Chairman of Bayer East Africa Limited as well as director and shareholder at the Centum Investment Group
Chris Kirubi Wealth
By the time of his death, Kirubi had a personal fortune running into tens of billion in Kenyan shillings. The 2011 Forbes inaugural ranking of Africa’s 40 richest people ranked Chris Kirubi as the 31st richest person in Africa with a net worth of over $300 million.
Having been brought up by poor parents, Kirubi had previously stated that his riches and wealth were as a result of hard work and resilience.
Below are some of the properties linked to the business man Chris Kirubi.
- In the 1960s and 1970s, Kirubi worked with the defunct giant parastatal Kenya National Transport Company (KENATCO) as an administrator
- Kirubi also worked with the Government of Ghana as a Board Member of the Investors’ Advisory Council and as Ghanaian Honorary Consul General in Kenya (2000 to 2008) and was the Honorary Counsel to the Republic of Mauritius in Kenya.
- At the time of his death, Kirubi was most visibly linked to Nairobi Securities Exchange-listed investment firm Centum where he was the top owner with a 30.9 percent stake valued at more than Sh3.3 billion. Centum is a private equity firm listed both on the Nairobi and Uganda stock exchanges with a recent market capitalisation of $92 million.
- K-Rep is over 67 percent owned by Centum Investments where Mr. Kirubi owns a majority of the shares.
- In 1998, Kirubi acquired for an undisclosed sum 100 percent of Haco Industries, a Kenyan subsidiary of a Dutch firm. In 2008, Haco formed a joint venture with Tiger Brands, one of South Africa’s largest food manufacturers. Revenues of Haco Tiger Industries were in excess of $33 million in 2010.
- Centum has one of the most attractive investment portfolios in the region, including substantial stakes in Coca-Cola, Safaricom and Kenya Commercial Bank
- Centum Investment of which Kirubi is the major shareholder is reported to have a 58.3 percent stake in Two Rivers Mall. The 62,000 square meters mall sits on a 100 acre piece of land on Limuru Road, not far from the leafy suburbs of Nayri, Gigiri, Muthaiga, and Runda.
- Chris Kirubi also owned capital FM where is the the majority shareholder where he also doubled up as a DJ
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Among the positions he held, Kirubi includes being the chairman of Coca-Cola Nairobi Bottlers, DHL Worldwide Express, Capital Media Group, International House Limited, and Smart Applications International.
Until his death, Kirubi was also the deputy chairman of Bayer East Africa.
Dr. Christopher J. Kirubi was born in 1941 and passed away on Monday 14th of June, 2021 at 1pm at his home after a long battle with cancer fought with fortitude, grace and courage.
He was surrounded by his family at his dying moments.