@TheStar

10 join Super Rich club with Sh50 billion each - 11 months ago, 9 Mar 00:14

By: Cynthia Ilako @la ...

Only eight per cent of the 180 people who joined Kenya’s super rich club of high net worth individuals are women. Knight Frank’s annual Wealth Report, launched yesterday, found Kenyans with net assets worth Sh500 million or more rose 16.2 per cent last year to 1,290.  Of these, 90 are worth $50 million (Sh5 billion). Only 10 individuals are worth $500 million (Sh50 billion) or more. “Wealth was initially concentrated in the North and South of Africa, but as we can see, this is trickling down to East Africa and specifically Kenya,” Knight Frank Wealth Report editor Andrew Shirley said. “We expect the number of high net worth individuals will grow 60 per cent over the next five years.” The report shows wealth in the country was unevenly distributed in 2017 with about 85 per cent of the ultra-rich in Nairobi. Six per cent of the country’s ultra-rich were from ...
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