A huge part of his investment has been disposed of since early 2000, when Barclays Bank demanded the settlement of debts exceeding Sh1.8 billion.
The family lost control of Carbacid Limited and then proceeded to sell shares in the company worth over Sh400 million.
The family also sold the Hillcrest schools after they were put under receivership in 2005 due to Sh620 million owned to Barclays Bank. And in 2011, the family sold The People to a company linked to the Kenyatta family.
His fall from grace began when he resigned, in December 1988, after he disagreed with the government over Kanu’s grassroot elections in his Murang’a turf.
With Charles Rubia who had equally resigned from government, he joined multi-party activists such as Jaramogi Oginga Odinga and the ‘Young Turks’.
But after July 7, 1990 demonstrations dubbed Saba Saba, he was detained without trial until early 1991, when he was released after suffering a stroke. Poor health has dogged him to date.
At the end the single-party rule, Matiba joined Ford, a political party that included a constellation of opposition leaders led by Jaramogi Oginga Odinga.
Former Vice President and Health minister, Mwai Kibaki resigned from government to form Democratic Party ahead of the1992 general elections.
Due to squabbles over who between Matiba and Odinga would be Ford’s flag-bearer, the party split into Ford-Asili led by Matiba and Ford-Kenya captained by Odinga.
It is a measure of the man that Moi, the incumbent, garnered 1.9 million votes with Matiba coming second with 1.4 million votes, and Kibaki’s bagging 1.05 million votes. Odinga was fourth with 0.94 million votes.
Only later did Kenyans learn that Matiba had given the four men a run a for their money, yet his health was in such perilous state that he couldn’t even sign his name.
