Wazua
»
Investor
»
Economy
»
So we have 8700 dollar millionaires in Kenya!
Rank: Member Joined: 1/20/2015 Posts: 489 Location: Nairobi
|
jerry wrote:UpcomingPaperChaser wrote:Having done so many works in the upmarket Nairobi and had the chance to interact with the owners of such, i would like to explain one or two points:
1. We have rich people in Kenya, dont underate the number. We have importers, exporters, private consultants, gynacologists, directors, rich businessmen, thieves, corrupt people en masse!!
A lady friend works at a gynacologists office in town, the gyna is well known and has built his empire over 25 years.....she told me, from consultancy alone, they make between 50-65k per day........ include treatments and prescriptions and that goes to abt 80k per day.......roughly 2 million per month!!!!! so kulipa 250k inakuwa peanuts
Another client i know mines gems in Taita Taveta county... guy so so rich, has a small chopper parked by the swimming pool!
Another one, Indian family owns a logistics company that is a leading logistics operator in East Africa
One imports mitumba and supllies to middle men who then supply the traders.......billionaire driving Range Rover
Some Turkish businessman paid 2 years rent upfront for a 6000 square feet mansion in Eagle Park, Runda. monthly rent was 300k!! nigga paid about 7 million cash
We have so many rich Kenyans out there.......extremely rich is understatement.........dont think people are as poor as you might be Which paper is this you are about to chase?! There is a reason they don't want to own homes. What could that reason be? Apart from political reasons, they own houses that they bought after they had been constructed, and they are designed in some manner that might not meet their desires. when they therefore get a house that is customized in design to their tastes, they will leave the houses that they own n opt to rent..... Enjoy every moment of your life, you never know when your time will come.
|
|
|
Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
|
UpcomingPaperChaser wrote:Having done so many works in the upmarket Nairobi and had the chance to interact with the owners of such, i would like to explain one or two points:
1. We have rich people in Kenya, dont underate the number. We have importers, exporters, private consultants, gynacologists, directors, rich businessmen, thieves, corrupt people en masse!!
A lady friend works at a gynacologists office in town, the gyna is well known and has built his empire over 25 years.....she told me, from consultancy alone, they make between 50-65k per day........ include treatments and prescriptions and that goes to abt 80k per day.......roughly 2 million per month!!!!! so kulipa 250k inakuwa peanuts
Another client i know mines gems in Taita Taveta county... guy so so rich, has a small chopper parked by the swimming pool!
Another one, Indian family owns a logistics company that is a leading logistics operator in East Africa
One imports mitumba and supllies to middle men who then supply the traders.......billionaire driving Range Rover
Some Turkish businessman paid 2 years rent upfront for a 6000 square feet mansion in Eagle Park, Runda. monthly rent was 300k!! nigga paid about 7 million cash
We have so many rich Kenyans out there.......extremely rich is understatement.........dont think people are as poor as you might be I should turn my girlfriend to gynecologist  2 million per month is too much for one person
|
|
|
Rank: Member Joined: 1/22/2015 Posts: 682
|
UpcomingPaperChaser wrote:Having done so many works in the upmarket Nairobi and had the chance to interact with the owners of such, i would like to explain one or two points:
1. We have rich people in Kenya, dont underate the number. We have importers, exporters, private consultants, gynacologists, directors, rich businessmen, thieves, corrupt people en masse!!
A lady friend works at a gynacologists office in town, the gyna is well known and has built his empire over 25 years.....she told me, from consultancy alone, they make between 50-65k per day........ include treatments and prescriptions and that goes to abt 80k per day.......roughly 2 million per month!!!!! so kulipa 250k inakuwa peanuts
Another client i know mines gems in Taita Taveta county... guy so so rich, has a small chopper parked by the swimming pool!
Another one, Indian family owns a logistics company that is a leading logistics operator in East Africa
One imports mitumba and supllies to middle men who then supply the traders.......billionaire driving Range Rover
Some Turkish businessman paid 2 years rent upfront for a 6000 square feet mansion in Eagle Park, Runda. monthly rent was 300k!! nigga paid about 7 million cash
We have so many rich Kenyans out there.......extremely rich is understatement.........dont think people are as poor as you might be You have named 5. Two of which are not Kenyan and therefore don't count, and one who's business makes 2 million per month on the high side, which is very hard to make a million dollars out of 2m per month before expenses and taxes. So that leaves three out of your anecdote who MAYBE are in the dollar millionaire club. The point of this survey though, in my view, was not to argue over the exact number of millionaires. It just shows the stark reality of Kenya, JM Kariuki's prediction of "10 millionaires and 10 million beggars" has come to pass.
|
|
|
Rank: Member Joined: 8/15/2015 Posts: 817
|
and you would think this very very rich people should have some little bit of money management/financial literacy .not to waste money with renting expensive houses but buy or build
|
|
|
Rank: Member Joined: 1/30/2016 Posts: 332 Location: Rift Valley
|
Cornelius Vanderbilt wrote:and you would think this very very rich people should have some little bit of money management/financial literacy .not to waste money with renting expensive houses but buy or build You are incorrectly assuming that the wealthy have the same priorities as the middle class and the hustlers.
|
|
|
Rank: Member Joined: 9/2/2010 Posts: 845
|
owning a home is great but there is nothing wrong with renting if your income and other assets can comfortably finance it. germany, perhaps europe's most successful economy and with one of the lowest levels of unemployment, has a relatively low rate of home ownership. lower than struggling economies like greece and spain. this is from 2004 but hasnt changed much.  All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
|
|
|
Rank: Member Joined: 8/15/2015 Posts: 817
|
innairobi wrote:owning a home is great but there is nothing wrong with renting if your income and other assets can comfortably finance it. germany, perhaps europe's most successful economy and with one of the lowest levels of unemployment, has a relatively low rate of home ownership. lower than struggling economies like greece and spain. this is from 2004 but hasnt changed much. so you would rather rent your whole life because your salo can comfortably support it ? thats a very bad poor mentality.remember that rented house doesnot belong to you you are just enriching somebody.Own a home and leave something for your kids
|
|
|
Rank: Member Joined: 9/2/2010 Posts: 845
|
Cornelius Vanderbilt wrote:innairobi wrote:owning a home is great but there is nothing wrong with renting if your income and other assets can comfortably finance it. germany, perhaps europe's most successful economy and with one of the lowest levels of unemployment, has a relatively low rate of home ownership. lower than struggling economies like greece and spain. this is from 2004 but hasnt changed much. so you would rather rent your whole life because your salo can comfortably support it ? thats a very bad poor mentality.remember that rented house doesnot belong to you you are just enriching somebody.Own a home and leave something for your kids i'm not saying dont own your home. was responding to criticism about seemingly 'foolish' rich guys renting. to give an extreme example, if you are chris kirubi and have $500m worth of diverse businesses and income-generating assets, leaving a bungalow in ongata rongai for your kids to share between themselves is an immaterial achievement in the grand scheme of things. you might even have better and more productive use for the money in the same way many retailers lease and dont buy every single property they operate in. i wouldnt be too dogmatic about paths taken to financial success. All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
|
|
|
Rank: Member Joined: 6/15/2013 Posts: 301
|
innairobi wrote:Cornelius Vanderbilt wrote:innairobi wrote:owning a home is great but there is nothing wrong with renting if your income and other assets can comfortably finance it. germany, perhaps europe's most successful economy and with one of the lowest levels of unemployment, has a relatively low rate of home ownership. lower than struggling economies like greece and spain. this is from 2004 but hasnt changed much. so you would rather rent your whole life because your salo can comfortably support it ? thats a very bad poor mentality.remember that rented house doesnot belong to you you are just enriching somebody.Own a home and leave something for your kids i'm not saying dont own your home. was responding to criticism about seemingly 'foolish' rich guys renting. to give an extreme example, if you are chris kirubi and have $500m worth of diverse businesses and income-generating assets, leaving a bungalow in ongata rongai for your kids to share between themselves is an immaterial achievement in the grand scheme of things. you might even have better and more productive use for the money in the same way many retailers lease and dont buy every single property they operate in. i wouldnt be too dogmatic about paths taken to financial success. It is interesting to note the first three countries also experienced the worst crisis in Europe in the 2008/9 recession. @innairobi I agree with you paying rent can be cheaper than servicing a mortgage, even in the long term, considering the interest paid over the 10/15 years servicing the mortgage. You can multiply the cash spent on servicing a mortgage which can be used to one day buy outright your home, less stress and worries per month on how you are going to service the mortgage which is dependent on the macroeconomic conditions, plus more disposable income to pay school fees, treat your family etc and keep them happy. It makes a lot of sense however if you have idle cash in the bank and can buy the house outright rather than paying rent.
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
innairobi wrote:owning a home is great but there is nothing wrong with renting if your income and other assets can comfortably finance it. germany, perhaps europe's most successful economy and with one of the lowest levels of unemployment, has a relatively low rate of home ownership. lower than struggling economies like greece and spain. this is from 2004 but hasnt changed much. Wonder then why nations all over the world take pride in home ownership numbers
|
|
|
Wazua
»
Investor
»
Economy
»
So we have 8700 dollar millionaires in Kenya!
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|