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400 wealthy Kenyans fall off dollar-millionaires list
The latest ranking marks the third successive decline in the number of Kenyan dollar millionaires, with 500 having fallen off the list in 2024, further shrinking the basket of the super-wealthy.
The number of Kenyan dollar millionaires dropped by 400 in the 18 months to June amid pointers that the rich moved cash abroad amid uncertainty caused by Kenya’s slowing economy and last year’s deadly youth-led protests.
The pool of high-net-worth individuals (HNWI), described as individuals with a net worth of at least $1 million (Sh129.2 million), dropped to 6,800 in June from 6, 800 in December 2023 and 7, 700 in 2022, according to Henley & Partners, which tracks the rich through wealth managers.
