Billionaire Mithika Linturi Explains Source of Ksh 1.2B Wealth

21, Oct 2022 / 2 min read/ By Livenow Africa

Former Meru senator, Franklin Mithika Linturi, declared his net worth at Ksh1.2 billion on Friday, October 21. 

Linturi, nominated as the CS for Agriculture by President William Ruto, told the National Assembly's committee that immovable assets constitute most of his wealth.

"My financial net worth which included my investment in various companies in this country and in Saccos adds up to Ksh1.2 billion," Linturi stated.

Agriculture Cabinet Secretary nominee Franklin Mithika Linturi.
Agriculture Cabinet Secretary nominee Franklin Mithika Linturi.
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MITHIKA LINTURI

He added that he also receives income from rental properties and owns several high-end vehicles. 

The lawmaker well owns shares in various Sacco, including the Parliamentary Sacco, which comprises Parliamentarians and other staff. 

Linturi, who claimed to have been raised in a humble background in Meru, is also a director and one of the largest shareholders in several organizations in the country.

For his current sources of income, Linturi listed livestock farming and agriculture, stating that he was expecting nearly Ksh1 billion in the coming months.  

"I am a dairy farmer, I keep cows and goats. I also grow sukuma wiki.

"The money I expect to get in the near future is beyond Ksh1 billion," Linturi revealed.

Additionally, he claimed that he was waiting to receive compensation awarded by the court award. Linturi pinpointed a court order that directed the Ethics and Anti-Corruption Commission (EACC) to pay him for wrong prosecution.

The government was also faulted for failure to pay the politician for services offered in the past.

"I started hustling with nothing, I met friends who helped me get started. I got an interest in pursuing insurance and other businesses.

"Several politicians also helped me find my way into politics," Linturi told the committee.

National Assembly Speaker Moses Wetangula during a past parliamentary sitting.
National Assembly Speaker Moses Wetangula during a past parliamentary sitting

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