7,200 Kenyans Are Worth Above Ksh128 Million; 5 Things They Are Doing Differently

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Greetings, and welcome to the nineteenth edition of Wallet Wellness in 2025 - your weekly source of practical personal finance tips to elevate your money management skills.

We hope you had a chance to check out the last edition, where we explained Kenya's Top Paying Jobs: The Art of Negotiating a Higher Salary. In today’s edition, we discuss the 7,200 dollar millionaires in Kenya and what you can do to shore up your investment portfolio.

As always, be sure to check out the Concept Corner below for a deep dive into the money concept of the week.

Let’s dive in! 

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MONEY254 TIP OF THE WEEK

7,200 Kenyans Are Worth Above Ksh128 Million; 5 Things They Are Doing Differently💡

Knight Frank’s latest Wealth Report: Kenya Edition just dropped, and it is revealing something fascinating about how the ultra-wealthy are playing the long game.

Kenya is now home to 7,200 high-net-worth individuals (HNWI) — these are dollar millionaires worth at least Ksh128 million each. And while most of us are out here chasing paychecks, juggling side hustles, and braving rising costs, these financial elites have cracked the code on building, protecting, and growing their wealth.

The good news? You don’t need millions to start thinking like a millionaire.

According to the wealth managers who advise them, the super-rich do five key things differently—and you can start applying these principles today, even on a modest budget.

Let’s dive in

1. Do Your Homework and Make an Investment

The Knight Frank Wealth Report reveals that real estate takes up nearly 40% of a Kenyan dollar millionaire’s portfolio. But this isn’t just about owning one nice house. The ultra-wealthy are strategic—they buy homes in holiday spots like Malindi, Naivasha, and Nanyuki for lifestyle and resale value, and invest in rental apartments in Nairobi’s top estates like Karen and Runda. Some go even further with commercial buildings or betting on undervalued land near urban areas, knowing it’ll gain value over time.

What You Can Do Differently: You might not be eyeing your second home in Kileleshwa (yet), but the principle still applies: invest intentionally. Start where you are—with money market funds, SACCOs, or investment groups. These are low-barrier entry points that offer decent returns. More importantly, they teach the habit of committing to your financial growth. Wealth isn’t built overnight—it’s built over time with research, discipline, and smart choices.

2. Invest in Stocks - Think Beyond Borders

Kenya’s wealthy are increasingly turning to the stock market to grow and diversify their portfolios. Locally, they invest in trusted blue-chip companies like Safaricom, Equity Bank, and EABL for their strong performance and steady dividends. But many are also looking beyond Kenya—opening offshore accounts to buy into global tech giants like Apple, Google, and Microsoft, or putting money into high-performing ETFs. Among younger wealthy individuals, there’s rising interest in ESG (environmental, social, governance) portfolios and crypto-related stocks.

What You Can Do Differently: You don’t need to break the bank or have offshore connections to start. Through smaller apps, you can buy local shares from as little as Ksh100. Some platforms even let you invest in fractional shares of international companies, so you can own a piece of Apple or Tesla without needing thousands.

The key is to start small, invest consistently, and learn as you go. Choose companies or funds you understand, follow market trends, and think long-term. Investing isn’t a gamble, it’s a habit. Build it early, and your future self will thank you.

3. They Preserve Wealth, Not Just Grow It

While building wealth is important, Kenya’s dollar millionaires are just as focused on preserving it. The Knight Frank Report shows they invest in fixed-income assets to maintain stability and manage liquidity.

They hold about 10% of their wealth in cash and deposits, spread across local and foreign accounts, often in strong currencies like the USD and GBP to hedge against local currency fluctuations. Additionally, 6% goes into bonds and T-bills—including government securities, corporate bonds, and infrastructure bonds—offering predictable returns with minimal risk.

What You Can Do Differently: Preserving your savings is just as important as growing them. Start by putting your emergency fund in a money market fund or fixed deposit account instead of leaving it idle in a current account. You can also explore Treasury bills and bonds through CBK’s mobile platform or your bank—these are accessible, secure, and require relatively low capital.

It’s not always about big wins; sometimes, the smartest money move is simply protecting what you already have.

4. They Launch and Back Private Businesses

Many of Kenya’s dollar millionaires are entrepreneurs or investors in private companies, either ones they founded or those they back through angel investing and private equity. Their ventures range from family-run real estate firms and logistics businesses to agri-enterprises.

They’re also betting big on Nairobi’s startup scene, especially in fintech, healthtech, and e-commerce. Through private equity funds, they tap into high-growth but unlisted companies—an opportunity to grow wealth while influencing strategy.

What You Can Do Differently: You don’t need millions to think like an investor. Start small—a side hustle, an online service, or join an investment group supporting SMEs. Even helping fund a trusted friend’s business can teach you a lot.

Focus on spotting opportunities, building value, and being bold. The road to wealth often begins with a single idea—and the courage to act on it.

5. They Invest in Passion — Through Collectibles

For Kenya’s ultra-wealthy, wealth isn’t just about stocks and property. There’s rising interest in alternative assets that are as personal as they are profitable. These include contemporary Kenyan and Pan-African art, luxury watches like Rolex and Patek Philippe, high-end jewelry, and even classic cars or vintage wines.

While still niche, these collectibles are becoming recognised as stores of value, especially when traditional markets get shaky. They offer a unique blend of emotional satisfaction and long-term investment potential.

What to do differently: Luxury wine could be out of reach, but the goal is to find your passion and invest in it. This can be an activity you can enjoy during your spare time. Passion-driven investments can diversify your portfolio and reflect your personality while building wealth in the background.

CONCEPT CORNER

Securities

Securities are tradable financial assets that hold some type of monetary value. They come in different forms—like stocks (which represent ownership in a company), bonds (which are essentially loans to companies or governments), and mutual funds (which pool money to invest in a mix of assets). Securities are commonly used by investors to grow wealth and by institutions to raise capital for their operations. Learn More.

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How Long It Take to Double Your Money With MMF, SACCOs, Real Estate & Fixed Deposits

Using the Rule of 72, you can estimate how long it takes to double your investment based on the average return of different passive income options. In today’s MoneyTok, we explain what it takes for your money to double using the above rule. Watch the video and draw some inspiration from it.

@money254hq

𝐇𝐨𝐰 𝐋𝐨𝐧𝐠 𝐈𝐭 𝐓𝐚𝐤𝐞𝐬 𝐭𝐨 𝐃𝐨𝐮𝐛𝐥𝐞 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲 𝐖𝐢𝐭𝐡 𝐌𝐌𝐅𝐬, 𝐒𝐚𝐜𝐜𝐨𝐬, 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 & 𝐅𝐢𝐱𝐞𝐝 𝐃𝐞𝐩𝐨𝐬𝐢𝐭𝐬 Using the Rule of 72, you can estimate how long it ... See more

That's it for the nineteenth Wallet Wellness edition of 2025! We hope these financial tips have added some energy to your weekly hustle. Stay tuned for more practical insights in our next edition of "Wallet Wellness" next week and watch out for Money Weekly.

Also, don’t forget to download the Money254 App on the Google Play Store, and remember that we can help you compare over 300 loans, savings accounts, current accounts, and more if you’re thinking about your next product.

Cheers to your wallet's well-being!

Money254 editorial team.