Kenyan media mogul Samuel Kamau (SK) Macharia has partially lost control of Ks1.2 billion ($11 million) worth of an estate to his grandson, Adam Kamau Macharia.
The estate, which has been subject to a legal battle between the two men, belonged to Macharia’s late son John Gichia (Adam’s father), who died in a fatal road accident in 2018 when Adam was only 16 and a minor.
Macharia is the founder and chair of Royal Media Services, the largest private radio and TV network in East Africa, which includes Citizen TV and Radio Citizen. He is a controlling figure in Kenya’s media space.
Business Daily reported that Stella Mutuku, one of the country’s High Court judges, has revoked letters granted to the mogul in 2019 to administer the deceased’s estate. The judge argued that it was time to reconsider the issue as Adam is now an adult.
The contested estate comprises more than six companies. They include Directline Insurance, Serenity Media Productions, Big Five Conservancy, Bushfire Media Distributors, Toi Redevelopment and Harbour Capital.
The other listest assets include nine vehicles, four motorbikes and five homes in Nairobi.
Adam has filed another petition to gain complete control of the estate. As he has reached legal age, he describes himself as the only son and sole beneficiary. He further noted that his grandfather could not control the estate given recent bankruptcy cases filed against him in court.
However, the judge issued a 30-day deadline to propose an administrator pending the hearing and determination of the case.