Musalia Mudavadi on Monday October 17 disclosed that he has a net worth of Ksh 4 billion.
“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,” Mudavadi disclosed.
“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.” he added.
The largest portion of Musalia’s wealth consists of properties in upscale Riverside Estate, shares in Absa Bank, and First Assurance Company Limited.
According to disclosures Mudavadi made to the Committee on Appointments, who interviewed him on Monday, The Riverside Stables is valued at Sh1 billion.
He also owns rental office buildings worth Sh870 million through a company called Tritone Investments, demonstrating his significant real estate holdings.
Additionally, the former vice president owns Sh200 million worth of stock in the helicopter leasing company Exclusive Air Services Ltd.
The Prime CS nominee disclosed his Sh440 million stake in First Assurance Company and his Sh545 million investment in Absa Bank, in addition to his sizable real estate holdings.
He admitted to owning shares in Jodeci Investment (worth Sh120 million), Malulu Land and Developments, and high-end cars worth Sh44 million (Sh250 million).
Mudavadi was the first Cabinet Secretary nominee to be vetted for the position of Prime Cabinet Secretary by the 15-member National Assembly Committee.
President William Ruto had nominated the former Amani National Congress (ANC) leader as one of his Cabinet Secretaries following the agreement between his party and the UDA before the August election.
His roles as the Prime CS will entail; assisting the President and Deputy President in the Coordination and supervision of Government Ministries and State Departments, liaising with the Ministry responsible for Interior and Coordination, oversee the implementation of government policies, programmes and projects and Chairing and coordinating National Government Legislative agenda across all Ministries and State Departments.
Mudavadi will also be consulting with and for transmission to the party coalition leadership in both the National Assembly and the Senate and facilitate inter-ministerial coordination of cross-functional initiatives and programs.
His office will be stationed at the Kenya Railways headquarters.
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