Musalia Mudavadi was born on 21 September 1960 in Sabatia, Western Kenya. He is married to Tessie Sgangatti and the couple have three children, two sons and a daughter.
Musalia Mudavadi net worth 2022 was Ksh. 4.1 billion according to his own assessment. He is a former Vice President of Kenya under the second President Daniel Arap Moi.
The revelation of Musalia Mudavadi’s wealth during vetting came as a shock to many Kenyans who have been underestimating his net worth. He is now confirmed to be among the richest people in Kenya.
Musalia Mudavadi who is serving as a Prime Cabinet Secretary is a man of means. He has invested heavily in real estate. He owns properties in Riverside Estate, he owns shares in Absa Bank as well as in First Assurance Company Ltd.
His Riverside Estate is valued at Ksh. 1 billion according to his revelations during his vetting at parliament buildings by the Committee on Appointments.
Below is a summary of assets which make up Musalia Mudavadi net worth in 2022:
- Rental Office blocks owned through Tritone Investments Ksh. 870 million;
- Exclusive Air Services shares valued at Ksh. 200 million;
- Shares in First Assurance Company valued at Ksh. 440 million
- Absa Bank shares at Ksh. 545 million
- Jodeci Investments (Ksh. 120 million)
- Malulu Land and Developments (Ksh. 250 million)
- Other properties – Ksh. 650 million
“If I take my investment in shares in some companies and also some properties I own, I would put my net worth at about Sh4 billion,” Mr Musalia Mudavadi revealed.
“My sources of income are rental income, dividends where I have shareholdings and also interest and of course other expenses that come from the farm.”
Musalia Mudavadi net worth 2022 is also made up of high end motor vehicles all valued at Ksh. 44 million.
Musalia Mudavadi is the Amani National Congress (ANC) party leader. Public officials in Kenya are required to reveal their wealth as one of the ways to fight corruption considering that public office is quickly turning politicians into instant millionaires.
First Assurance started their business in Kenya in the name of Prudential Assurance Company back in 1930. The business largely offered general, group life and medical insurance to Kenyans.
During his vetting, Musalia Mudavadi revealed that he owns shares in First Assurance through First Assurance Investment valued at Ksh. 255 million.
Musali Mudavadi net worth 2022 has been built over decades from 1989 when be first became a cabinet minister then at the age of 29 years.
Musalia Mudavadi net worth 2022 is bigger by far than of the other Cabinet Secretaries such as Justine Muturi (Ksh. 700 m), Aden Duale (Ksh. 871 m), and Alfred Mutua (Ksh. 420 m) among others.
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