Chris Kirubi: 5 Multi-Million Companies Behind His Impressive Wealth
For decades now, billionaire Chris Kirubi has strutted the globe with a badge identifying him as one of the richest men in Kenya.
In 2011, he even made it to the list of Africa's richest people by Forbes Magazine with his total net worth pegged at Ksh3 billion ($300 million) at the time.
As much as many people know that the tycoon had an interest in numerous industries such as real estate, very few could pin-point the individual firms that made him smile all the way to the bank year after year.
Below are five of some of the multi-million companies owned by the billionaire:
Centum is the real estate firm that has made some bold and iconic investments in the country with its biggest project yet being the dazzling two-Rivers Mall.
In 2014, according to a report by Business Daily, Kirubi formally crossed the 25% mark in the ownership of the firm.
According to an August article by Daily Nation, the tycoon purchased additional shares of the publicly listed company worth Ksh67 million making him its single biggest shareholder. After the purchase, his stake rose to 28.94%.
The firm, which was launched in 1967, unveiled Two Rivers Mall, the largest shopping mall in Sub-saharan Africa, outside South Africa attracting over 200,000 visitors.
In June this year, the flamboyant billionaire made headlines when it emerged that he was set to pocket Ksh700 million by relinquishing a section of the Haco Industries to French multinational Société BIC.
A Forbes Magazine report indicated that Haco was the official dealer of BIC products in East Africa for four decades and was also in partnership with other international firms to sell their brands in Kenya.
In the June deal, the tycoon only relinquished an arm of the company that had dealt directly with Société BIC.
The publicly-listed company is 100% owned by Kirubi.
3. Capital FM
Kirubi does not only own the media company, which was once the leading radio station in Kenya, but he also works at their as a full-time DJ and recording name of DJ CK.
In a 2011 interview with Forbes Magazine, the same year he was also listed among Africa's richest, he clarified that as much as he was looking to step into the media industry, he wanted to learn and understand how the business works.
“I didn’t just want to acquire the station solely for the financial dividends it was eventually going to give me; I wanted to love the business.
“I wanted to understand the business from the very basics. So I approached the managers and told them that I wanted to host a rock radio show. I asked them to teach me how to become a Disc Jockey," he told the publication at the time.
Capital FM is located on Lonrho House in Nairobi CBD.
4. International House Building
The acquisition of this building was somewhat an inspiring story not only for those who look up to Kirubi but also to the tycoon himself.
In one of Capital FM's weekly episodes of AskKirubi the esteemed billionaire revealed that his strong footing started off in property development before he branched out to other industries.
In one particular instance, Kirubi narrated how he started off as a salesperson for an insurance company known as International House Limited before he later acquired its headquarters.
"With International House, I worked for (the insurance company that was headquartered there). I used to sell policies and when they decided to close down their offices in Kenya, they offered me the opportunity to buy the building and supported me in talking to the banks and off we went. So the property was always the foundation," he narrated.
5. DHL Kenya
The tycoon is also reported to have a stake in the Kenyan wing of the global logistics company DHL.
In an article by Business Daily in February 2019, while detailing the Haco deal that was estimated to earn him a substantial Ksh700 million, the publication noted the billionaire's interest in the firm without disclosing further details.
It is not clear how much of the company is owned by the tycoon.
DHL is a global logistics firm with a presence in over 220 countries and territories worldwide, particularly in sea and airmail.
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