Ben Chumo: My net worth stands at Sh212 million
Besieged former Kenya Power Managing Director Ben Chumo has revealed his net worth.
Chumo, who said he has invested across the country, estimated his wealth to stand at Sh212 million.
He revealed his wealth when he appeared before a parliamentary committee to be vetted for the position of chairman of the Salaries and Remuneration Commission.
“Over the 32 years, I made investments across the country. I have some assets in Nairobi…I collect some rent. I have a home. We are raised as farmers so I do some dairy farming. I have some animals, in Eldoret. So I am not complaining as such. My estimate net worth as we speak stands at about two hundred and twelve million shillings,” he said.
“I can’t say I’m a rich man. In relative terms of course. I’ve not yet reached there. I can support my family. My four children; two of them are already out of the house, two are still in college.”
He said he was lucky that his last born got a university scholarship so he did not have to use his money in retirement to pay for her school fees.
“I was very lucky my daughter, my last born was best-performing student at Precious Blood in 2014 and earned a scholarship to Yale University (and) that is where she is. That opportunity could have deprived me of all the money if it wasn’t for that scholarship. So I thank God that upon retirement, God gave me that gift of scholarship to take my child for free to Yale,” he added.
— NTV Kenya (@ntvkenya) July 23, 2018
Chumo is currently facing charges in court over the procurement of transformers by the power firm.