According to research conducted by Oxfam, the four wealthiest people in Kenya have a total net worth of Ksh. 333 billion, which means that they possess more money than the other 22 million Kenyans combined.


The research indicates that Kenya's ultra-wealthy are accumulating tremendous wealth at an alarming rate, despite the fact that the majority of Kenyans are struggling with the effects of the COVID-19 epidemic, skyrocketing costs of essential necessities, and unemployment.


It has been said that the enormous gap in wealth that exists between the super-rich and the rest of the population is due to taxation.

Kenyans who own more than the entire database of KRA



"The research reveals that the expanding extreme wealth of the affluent and the increasing extreme poverty of the poor, driven by low taxes on the wealthiest Kenyans by virtue of tax exemptions, incentives, avoidance, and evasion, alongside unjustly increased taxes on the poorest Kenyans, directly via income tax and indirectly through taxes on fuel, food, and basic commodities, is a social evil and a disgrace," Oxfam Country Director in Kenya, Dr. John Kitui, stated in a news release on Wednesday, J.


At the annual conference of the Global Economic Forum, which was held in Davos, Switzerland, millionaires from thirteen different nations presented a petition to world leaders, asking them to address the issue of excessive wealth.

The billionaires sent a letter titled "The Cost of Extreme Money," in which they said that for the last half century, wealth has only been moving in one direction and that the only way to stop this trend is to tax the very wealthy.


An annual wealth tax levied on Kenya's wealthiest residents might generate Ksh90 billion if Kenya adopted a net wealth tax at a rate of 2% and put it into effect.


According to the findings of the study, the wealth of Kenya's wealthiest individuals—those with a net worth of Ksh. 615 million or more—has increased by 72 percent over the course of the last decade.


1890 Kenyans now have a net worth of Ksh. 615 million or more, representing a population growth of 134% among those who fall into this particular demographic of Kenyans.


The millionaires sent a letter to the political leaders who were attending Davos, in which they urged them to "tax the ultra-rich and do it fast." "It's basic economics that makes perfect sense." 

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