Monday, December 5, 2022

How late Chris Kirubi divided Sh. 20 billion wealth in his Will

Chris Kirubi Will: The will of the late billionaire businessman Chris Kirubi has been revealed. The will contains details of an empire that was worth over Sh. 20 billion and how this empire has been shared amongst his beneficiaries.

According to the Will, Kirubi in1996 bequeathed his son Robert Kirubi and daughter Mary-Anne Kirubi 80 per cent of the estate. He then gifted his second daughter Fiona Kirubi Sh. 4 million.

In the Will, the late Kirubi also gave each of his four siblings Sh. 500 million. From their share, Robert Kirubi and daughter Mary-Anne Kirubi amicably agreed to give Fiona 9.95 per cent of the estate, which they split equally from their shares.

“We shall be grateful if you would record the following consent in the above matter. That an order be recorded that Fiona Wambui Kirubi shall receive 9.95 per cent of the share of Robert Kirubi’s and Mary-Anne’s Kirubi’s portion of the estate being 80 per cent of the entire estate,” their legal consent reads in part. This means that she will receive about Sh. 1.6 billion from her siblings.

The Will has revealed that Kirubi had shares in unlisted companies with an estimated worth of Sh. 12.7 billion.

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His holding in firms listed at the Nairobi Securities Exchange (NSE) is worth an estimated Sh. 3.4 billion.

Further, the Will shows that he had invested more than Sh. 1.8 billion in Bayer East Africa Limited. The agricultural chemicals and pharmaceutical corporation established its roots in the country in 1968.

In Haco Industries, Kirubi had 4.5 million shares worth Sh. 801 million. His properties International House Limited and Kiruma International Limited have been estimated to be worth at least Sh. 1 billion. The billionaire also held 1,406 shares in Bendor Estates Limited which were estimated to be worth Sh. 5.6 billion.

He had accumulated land worth Sh. 3.1 billion. This included a parcel in Loresho worth Sh. 2 billion and another in Kwale estimated to be worth Sh. 111 million. Two other properties in Muthaiga and Mtwapa are worth Sh. 60 million each.

He also owned 6 six high-end cars which included Mercedes Benz Maybach S500 (worth Sh. 30 million), Bentley Continental GT (worth Sh. 29 million), Range Rover (worth Sh. 26 million), Mercedes Benz (worth Sh. 16 million), Mercedes Benz ML 320 CDI (worth Sh. 5 million) and Mercedes CLS 350 valued at Sh. 3 million.

In the Will, there was no mention of wealth that was left behind for his estranged wife and mistress. According to a report that appeared in The Star newspaper, the late Kirubi left his ex-wife and mistress nothing.

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