How Kenyan Tycoon Turned 4-Year-Old Child Into Overnight Billionaire

Former Presidents Daniel Moi (left) and Mwai Kibaki (left) with the late billionaire Njenga Karume.
Former Presidents the late Daniel Moi (left) and Mwai Kibaki (left) with the late billionaire Njenga Karume.
File

In 2012, Emmanuel Njenga Karume, became an overnight billionaire after his father bequeathed him with shares in 10 companies he had invested in.

At the time, Emmanuel, the son of the late self-made billionaire, James Njenga Karume, was aged only 4 years.

When he breathed his last, the tycoon had amassed a wealth well over Ksh120 billion spread across various industries including the transport and agriculture.

Details of his will, however, first surfaced in 2014 where Emmanuel, among others including the late tycoon's bodyguard and his driver, were allocated substantial shares of the property.

Former Cabinet Minister and tycoon Njenga Karume
Former Cabinet Minister and tycoon Njenga Karume.
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At the time, the youngster had been given all the shares his father had at the Kiambu General Transport Agency Ltd as well as Majoreni Agencies Limited.

Emmanuel was also given shares his father owned in several other companies including Ngorongo Tea Factory Limited, Heri Limited, Kenya Wine Agencies Limited, as well as Jacaranda Hotel.

Other shares were in Cianda Estates Limited, Kabete Distributors Limited, Karume Investments Limited and Forest Road Flats Limited.

Emmanuel, who is now aged 14 years, is, however, not in control of the property bequeathed unto him but stands to inherit the property once he attains the legal age of 18 years.

Others who were mentioned in the will were Karume's wife, three other sons, four daughters as well as his grandchildren and a cook.

The tycoon was also generous with the will that was left under the guardianship of Karen Hospital founder Dan Gikonyo and Bishop David Kamau.

The property, which has been the subject of family tussle, is being managed by the Karume Trust.

The executors of the will were also named including Dr Francisca Wanjiku Kahiu, his daughter, James Njenga, his cousin and his friend Stephen Karau. The driver and cook received Ksh500,000 each.

Karume passed away in February 2012 after a battle with cancer.

The late billionaire Njenga Karume (in a suit).
The late billionaire Njenga Karume (in a suit).
File