Shah Karim al-Husayni, also known as Aga Khan IV, has seen the market value of his stake in Kenyan investment holding company Jubilee Holdings rise by nearly $8 million thanks to the recent rebound in the shares of the Nairobi-based insurer and investment holding company.
Data gathered by Billionaires.Africa revealed that Aga Khan IV’s stake in Jubilee Holdings has increased by Ksh1.13 billion ($7.87 million) since March 23 as investors on the Nairobi Stock Exchange increased their stakes in Jubilee Holdings.
Jubilee Holdings is a Kenyan investment holding company that underwrites non-life insurance risks such as death, disability, health, property, and liability. With active operations and investments in Kenya, Uganda, Tanzania, Burundi, and Mauritius.
Shah Karim al-Husayni, also known as Aga Khan IV, is best known for founding Nation Media Group, East Africa’s largest independent media organization. Through the Aga Khan Fund for Economic Development, he owns 37.98 percent, or 27,494,108 ordinary shares, of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
Since March 23, the share price of Jubilee Holdings has increased from Ksh148.25 ($1.03547) on March 23 to Ksh189.25 ($1.3218), returning a gain of 27.66 percent to its shareholders, including Aga Khan IV, who owns a significant stake in the leading investment holding company.
As a result of the increase in Jubilee’s shares, the market value of Aga Khan IV’s interest in the leading insurer has surged by Ksh1.13 billion ($7.87 million), rising from Ksh4.08 billion ($28.47 million) on March 23 to Ksh5.20 billion ($36.34 million) at the time of writing.
This remarkable surge in the market value of his share solidifies Aga Khan IV’s position as the richest investor on the Nairobi Stock Exchange.
Aside from his interest in Jubilee Holdings, Aga Khan IV, also known as Mawlana Hazar Imam, owns a 48.67-percent stake in Nation Media Group. Since the start of the year, the market value of his stake in the Nairobi-based media conglomerate has increased by over $2.8 million.
