Baloobhai Patel
- Net worth $95 million
- Status -
- Country Kenya
- Source(-s) of wealth Businessman, Investor
How much is Baloobhai Patel Worth? Baloobhai Patel Net Worth in 2026
Baloobhai Patel’s net worth is estimated at $95 million as of November 2026. The Nairobi investor, born in 1938, built his fortune by buying shares on the Nairobi Securities Exchange and holding them. His biggest position, roughly half of carbon dioxide maker Carbacid, is now worth more than two and a half times what some popular calculations still assume, because they use a stale share price.
| Net worth | $95 million (our estimate, range $85 million to $105 million) |
|---|---|
| Born | 1938, Mathare, Nairobi (age 87 or 88) |
| Country | Kenya |
| Known for | Largest shareholder in Carbacid Investments, big holder of Kenyan bank stocks |
| Main income sources | Dividends from listed shares, Transworld Safaris |
How much is Baloobhai Patel worth in 2026?
We estimate $95 million, from three main listed stakes priced at the close on November 10, 2026 and converted at 129.93 shillings to the dollar. We count shares he has moved into family investment companies for succession, and the Co-operative Bank holding that he shares with his wife Amarjeet, as household wealth under his name. Smaller stakes and his safari company get a modest assumed value.
How we got to $95 million
| Source | Our estimate | What it rests on |
|---|---|---|
| Carbacid Investments, 49.9 percent | $42.0 million | About 127.2 million shares held through Aksaya Investment Holdings, at Sh42.95, is Sh5.46 billion. |
| Co-operative Bank, 1.7 percent | $27.8 million | About 100 million shares, held with his wife, at Sh36.15, is Sh3.62 billion. |
| Absa Bank Kenya, about 1.84 percent | $23.4 million | About 100 million shares at Sh30.40, is Sh3.04 billion. If he sold into the August 2026 tender at Sh34.50, he holds Sh3.45 billion of cash instead. |
| Transworld Safaris and smaller stakes | $2 million | Our assumption for his wholly owned tour company and holdings in CIC, Sanlam Kenya and BOC Kenya. No share counts or accounts have been published. |
| Total | $95 million | $95.2 million before rounding. |
The Carbacid price mix-up
Carbacid, which sells carbon dioxide gas, earned Sh1.13 billion in the year to July 2026, up 12.2 percent, and held its dividend at Sh2 a share, Billionaires.Africa reported on November 5. That report valued his stake using a share price of Sh16.75. The exchange tells a different story: Carbacid closed at Sh42.95 on November 10, 2026, per market data, and a separate data page shows a market value of Sh10.95 billion and a 4.66 percent dividend yield, both of which only work at a price in the low Sh40s.
Our calculation: 127.2 million shares at Sh42.95 is Sh5.46 billion, about $42 million, against $16.4 million at the lower price. The whole company trades at about 9.7 times its latest annual profit, which is not an expensive multiple for a business with a steady Sh2 dividend. His family company’s share of that dividend is about Sh254 million a year.
Banks bought on the dips
Most of the rest is bank shares, picked up in small lots over years. In 2024 he and Amarjeet added 15.25 million Co-operative Bank shares, lifting the couple’s stake from 1.29 to 1.55 percent, Business Today reported; the bank’s February 2026 shareholder list shows the couple’s joint account at 1.70 percent of 5.87 billion shares, about 100 million shares. Co-op has since gone from the Sh14.30 it traded at back then to Sh36.15, a 2.5-fold rise.
In June 2026 Absa Group, the South African parent, offered Sh34.50 a share to lift its Kenyan stake to 85 percent. It bought 189.38 million shares, 21.1 percent of what it sought, and ended at about 72 percent, Business Daily reported. Whether he sold has not been reported, which is why our Absa row carries both outcomes.
Why other estimates disagree
The biggest source of disagreement is the Carbacid price: plug in Sh16.75 instead of the exchange close and his total drops by about $26 million. Estimates from early 2026 also predate a sharp rally in Kenyan bank shares. And some count only shares in his own name, leaving out the family companies and his wife’s portion.
What would move the figure
Carbacid goes ex-dividend on November 30, 2026, so roughly Sh254 million of cash should reach his family company. A confirmed sale into the Absa tender would swap a share price for a fixed Sh3.45 billion. Beyond that, his wealth tracks three Nairobi stock prices: a 10 percent move across all three shifts our figure by about $9 million.
Baloobhai Patel net worth FAQ
What is Baloobhai Patel’s net worth?
About $95 million as of November 2026 by our estimate, led by a $42 million stake in Carbacid Investments.
What companies does Baloobhai Patel own shares in?
Carbacid Investments, Co-operative Bank, Absa Bank Kenya, CIC, Sanlam Kenya and BOC Kenya, plus his own company, Transworld Safaris.
How much does Baloobhai Patel make from Carbacid dividends?
About Sh254 million a year at the current Sh2 per share dividend, paid to the family company that holds the stake.
How old is Baloobhai Patel?
He was born in 1938 in Mathare, Nairobi, so he is 87 or 88.
Did Baloobhai Patel sell his Absa shares in the 2026 tender offer?
It has not been reported. The offer paid Sh34.50 a share and closed on August 11, 2026 with just over a fifth of the target shares tendered.
How is his net worth estimated?
We price his three main listed stakes at the November 10, 2026 close, convert at that day’s dollar rate and add an assumed $2 million for smaller holdings and his safari business.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.