The extra shares, which he intends to sell in the short term, were acquired from the government of Mauritius which seized them from its citizen Dawood Rawat who has been accused of running a ponzi scheme in the island nation.
Mr Mbaru has a Sh751.1 million paper loss from his Britam shares whose price has receded to Sh9.9 or just 10 per cent above the 2011 initial public offering price of Sh9.
Mr Kimani is ending the year with a capital loss of Sh741.1 million after taking a Sh268.8 million hit from Kakuzi which had last year rallied amid a general slide in his portfolio that includes East African Breweries, Nation Media Group and Centum.
He is followed by Mr Muriuki who is down by Sh719 million from his stakes at Co-op Bank and CIC Insurance.
Other top investors who have hundreds of millions of shillings in paper losses include WPP Scangroup CEO Bharat Thakrar, Leah Muguku, Simon Thuo and Franklin Ndii whose portfolios have been relegated below the Sh1 billion mark.
The portfolios of Jane Njuguna and city lawyer Jane Michuki stood above the Sh1.7 billion mark each despite the investors’ paper losses of Sh360.2 million and Sh673.8 million respectively.
This feature was first published in the Daily Nation.