10 Ways Super Rich Kenyans Spend Their Money Lately

A collage image of a Porsche car parked at a garage (left) and a Patek Philippe aquanaut watch (right).
A collage image of a Porsche car parked at a garage (left) and a Patek Philippe aquanaut watch (right).
Porsche/ Patek Philippe

All over the world, billionaires have been famed for their luxurious spending in maintaining their high-end lifestyles.

From cars to expensive watches, Kenyan billionaires are indeed going for top renowned global brands according to a report by UK investment firm Hentley and Partners.

In the 2022 Centi- Millionaire Report, it was indicated that golf is the most sought venture for the super rich.

This was closely followed by art collection and cycling & mountain climbing.

President Uhuru Kenyatta during the European Tour on Muthaiga Golf Club on Sunday March 6, 2022
Former President Uhuru Kenyatta during the European Tour on Muthaiga Golf Club on Sunday, March 6, 2022
PSCU

It was indicated that the love of art at times forces the billionaires to travel to foreign cities such as New York and London where art auctions are held.

"The worldwide fine art market is valued at just over Ksh10 trillion (USD85 billion as of June 2022). This figure refers to the combined value of the artworks that are traded regularly at auctions," read the report in part.

Skiing, horse riding and fishing came in fourth, fifth and sixth place respectively.

Also identified among the top pursuits for Kenyan billionaires was the collection of classic cars, hunting, yachting and watch collection.

"Classic car collecting is on the rise. The classic car models are becoming particularly popular billionaires with assets above Ksh12 billion Ferrari, Mercedes, Lamborghini and Porsche.

"Usually thought of as a man’s indulgence, timepieces are also significant items that affluent women shop for, with many watch companies now heavily focused on ensuring that women’s wrists bear their brands. Audemars Piguet, Hermès, Jaeger-LeCoultre, Patek Philippe, Rolex, and Vacheron Constantin are all leading watchmakers for super-wealthy women," read the report in part.

The UK-based firm estimated that there are 5,000 dollar millionaires in Nairobi in a report released in September.

The report indicated that there 240 city residents are worth Ksh1.32 billion while 11 people had assets worth Ksh12 billion.

Porsche Centre Nairobi at Sameer Business Park.
Porsche Centre Nairobi at Sameer Business Park.
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