The late Nderitu Gachagua’s wealth amounted to billions. And the Standard recently revealed how this wealth is to be shared among the late Governor’s family. Apparently, his Sh. 2 billion property is to be sold and the proceeds shared among 24 beneficiaries, according to his will.
The Standard further reveals:…
Mr Gachagua wanted his entire estate, except three houses he left to his two widows and two sons, to be sold.
The beneficiaries include two sons the former governor sired out of wedlock.
Jason Kariuki and Aston Gachagua who he fathered with Susan Wanjiru and Eva Mukami, are among those listed in his will.
However, their share of the inheritance will be managed by their mothers.
The properties include Olive Garden Hotel in Nairobi, Vipingo Beach Resort in Kilifi and Queens Gate Serviced Apartment Spar and Resort, also in Nairobi.
None of the beneficiaries got more that 10 per cent of the wealth.
Gachagua acknowledged that he was polygamous. He had two wives – Margaret Nyokabi and Margaret Waithegeni.
Nderitu Gachagua’s wealth: Langata house
To Ms Nyokabi, he left his Langata house and directed that she would hold it in trust for her family.
Ms Waithegeni on the other hand got the matrimonial home in Karen and a house in Meru County.
Gachagua also bequeathed Kenneth Gachagua, son of Waithegeni, and Jason Gachagua, Nyokabi’s son, his ancestral home in Hiriga, Nyeri County. They will share the home that sits on four acres equally.
He also left his older brother, Geoffrey Rigathi, shares he held at Mweiga Homes in Nyeri.
“Save for the properties I have personally bequeathed, I direct the executors of my will and administrators of the estate to liquidate the assets, and upon settlement of my liabilities, and distribute all the net proceeds,” he wrote.
The former governor entrusted Mr Rigathi, his friend Mwai Mathenge and lawyer Njoroge Regeru with the responsibility of executing his will and for this, he gave them five per cent of the proceeds.
Kenneth and Jason Gachagua and their sisters, Susan Kirigo and Mercy Wanja, got the lion’s share of the estate. At 10 per cent each, they inherited more than their mothers, who got five per cent share each.
Gachagua also left his mother, Martha Kirigo, with a five per cent stake and ordered that Rigathi holds it in trust for her.
Nderitu Gachagua’s wealth: Another brother
Rigathi also inherited five per cent of Gachagua’s wealth and was closely followed by another brother, Jackson Ririani, who got four per cent.
To his son born by Ms Mukami, he bequeathed a five per cent stake while Ms Wanjiru’s son got three per cent.
So generous was Gachagua that he also left his late brother Fred Wachira’s three children four per cent of the estate’s income.
The will shows he had a close relationship with Rigathi as he left Dr Wachira’s children’s inheritance under his care.
He gave Dorcas Rigathi two per cent while his sisters, Lilian Wangu, Linda Muthoni and Eunice Nyangari, got one per cent each.
The will shows the beneficiaries were allocated the wealth according to how close they were to the county chief.
He also left his sister, Jennifer Gacheke, a one per cent stake.
Gachagua’s will also shows his step-brothers and sisters, James Ririani, Johnson Kibaara, Peterson Wachira, Leah Wangari and Josphine Wangari, would share three per cent of his wealth.
The balance, 11 per cent, would be used to offset taxes accrued by the estate and also for administering the same.
“The tax should be paid out of the residuary estate and shall not be charged against any recipient, beneficiary, trustee, transferee or owner of such property or interest in property bequeathed to the beneficiaries under this will,” the will reads.
But he warned that if anyone went to court to challenge his last wishes, they would have to forfeit their inheritance.
“I direct that if any of the above listed beneficiaries raises any issue to the mode of distribution, he or she shall be disqualified automatically from inheriting any part of my property.”
Nderitu Gachagua’s wealth: Bank account
At the time of his death, Gachagua had Sh200 million cash in his bank account and was expecting some Sh13 million from a Mr Wahome.
Although it does not disclose the amount of land he had, the will shows he had plots in Karen, Vipingo Beach, Nairobi and Kiangwaci.
He also owned eight state-of-the-art vehicles that included a Mercedes Benz, Range Rover, BMW, Toyota Mark X and Audi Q7.
In Vipingo Resort, Gachagua held 8,994 shares while his daughter Kirigo had 1,000. His brother and son have one and five shares respectively.
In Olive Garden, he had equal shares with Rigathi at one each. His son Kenneth had five while Hardrock Quarries Ltd, which he owned, had 59,992 shares.
His other company, Tripple Eight Ltd, had one share in Olive Garden.
In Hard Rock, his daughter Kirigo held 994 shares, followed by Nyokabi who had 50. His brother Rigathi held one share while his son Kennedy had five.
In Queens Gate Serviced Apartment Spar and Resort Ltd, which owns newly-built furnished luxury apartments in Lavington, Nairobi, Gachagua held one share.
In Tripple Eight, Kirigo, Rigathi and Nyokabi had one share each while Kenneth held five. Hard Rock on the other had had 992 shares.
Gachagua however said although his family had shares, the companies belonged to him 100 hundred per cent.
Nderitu Gachagua’s wealth: Write affidavits
He also prohibited the family members from claiming an interest in the companies and directed that they should hand over documents to the trustees and also write affidavits indicating they had resigned as directors to ensure the smooth implementation of his will.
“The above noted assets, including properties held in the name of limited company, belong to me exclusively,” read the will witnessed by Jean Matu and Lydiah Kinuthia.
“The person named as shareholders in various companies have no beneficial interest in the said companies,” the document added.