Published on 10/09/2024
Ugandan billionaire Dr. Sudhir Ruparelia, founder and chairman of the Ruparelia Group, has once again secured his position as Uganda’s wealthiest individual for 2024.
The latest rankings confirm that he remains at the forefront of the country’s top entrepreneurs.
The rankings are determined through a comprehensive analysis of assets, including cash reserves, private investments, and public holdings, with liabilities subtracted to calculate net worth.
While focusing primarily on individual wealth, the evaluation also takes into account contributions from immediate family members. Sudhir’s diverse portfolio spans banking, insurance, education, media, real estate, floriculture, and hospitality sectors.
Check Out The List
| Rank | Name | Total net worth | Age | Region | Source of Wealth | Industry |
|---|---|---|---|---|---|---|
| 1 | Sudhir Ruparelia | $1.35B | 68 | Uganda | Ruparelia Group | Diversified |
| 2 | Mayur Madhvani | $1.2B | 64 | Kampala | Madhvani Group | Real Estate, Manufacturing |
| 3 | Alykhan Karmali | $1.15B | 56 | Kampala | Mukwano | Real Estate, Manufacturing |
| 4 | John Bosco Muwonge | $1.13B | 63 | Kampala | Shamba | Real Estate, Manufacturing |
| 5 | Hamis Kiggundu | $1.02B | 40 | Global | Ham Group | Diversified |
| 6 | Karim Hirji | $925M | 73 | Kampala | Imperial Group, Dembe | Diversified |
| 7 | Charles Mbire | $845M | 65 | Kampala | Invesco, MTN | Diversified |
| 8 | Imperial, Dembe | $670M | 63 | Uganda | Simba Group | Diversified |
| 9 | Omar Ahmed Mandela | $550M | 64 | Kampala | Mandela Group | Diversified |
| 10 | Sikander Lalani | $405M | 79 | EastAfrica | Roofings Group | Roofing sheets, Building Materials |
Ruparelia was born on January 17 1956 in Kabatoro, Kasese District in the Western Region of Uganda to an upper-middle-class Indian Gujarati family.
His great-grandfather reached Mombasa, Kenya in 1897 from India and set up a trading store there before coming to Uganda in 1903. His grandfather was born in Uganda in 1908 and his father in 1932.
Ruparelia attended Bat Valley Primary School in Kampala, from P1 to P6, then Jinja Main Street Primary School in Jinja for P7 and Jinja Secondary School.
In 1971, he joined Kololo Senior Secondary School. Ruparelia fled to the United Kingdom with his parents in 1972 at the age of 16, when then Ugandan president Idi Amin expelled all Asians from Uganda.
