31-year-old Kenyan-based music artist, Stephen Karuga popularly known as KRG the Don is among Kenya’s wealthiest young artists.
He made his first million at the age of 17 years. At his age, he describes himself as a non-average billionaire.
His success and wealth accrued are all thanks to his business acumen and entrepreneurial skills which he says kicked off when he was a teenager in high school.
KRG the Don has invested a lot in the transport business, construction business, tours and travel business, and hospitality and entertainment industry.
Apparently, the musician spends roughly Sh. 3 million to Sh. 4 million monthly. In an interview, KRG reveals how he has been financing his flashy lifestyle.
He also rebuked claims of money laundering and illegal businesses. KRG understands that in life, one has to make money work for them and not vice-versa.
Here is the interview given by the musician:
I normally don’t sell my music locally, because people don’t do streams. The biggest consumers of my music are people in the US, Europe then Kenya. Out there is where the money is.
I am in so many businesses. I have business in almost every sector in this country. I’m in Real Estate ( own properties), transport business, I sell cars (several yards), and finally, I’m in the music business.
I’m also a brand ambassador of several brands. And on top of that, I’m also a mini-partner in other businesses.
All these businesses are what make me money. I normally don’t talk about them because it’s not a must and that’s why people speculate a lot about me.
If I was a criminal, I could not be here doing this interview, I could be behind bars.
KRG further goes on to explain his monthly expenditure and budget which is estimated at around Sh. 100,000 to Sh. 3,500,000.
I use like Sh3 million to 4 million in just one month, and this is just personal expenditure, not business related. So in a day, I can use like 100K to 150K. This entails fueling my cars and having lunch with my kids and friends.
The cost of living has gone high and everything in Nairobi is expensive…and the good thing is I work very hard and I didn’t like borrowing so I just have to work for my money and maintain my lifestyle.
During the interview, KRG was kind enough to show his MPesa statements. They disclosed that he had spent at least Sh. 1.7 million in the past 15 days.
How to make your first million by following these 5 simple steps
Do you consider yourself a billionaire?
Yes, I am in the billionaires club, when you look at my lifestyle and the people I hang out with its very evident
When was the last time you boarded a matatu?
About 12 years ago, I was from the city to Donholm where I used to stay.
When did you make your first million?
I made my first million at the age of 17. Before that, I used to drink a lot, without thinking about tomorrow. I could buy you alcohol worth Sh50, 000 and call you the next morning to borrow you Sh500.
My turnaround came when I got my first child…I started being responsible from there. I also started choosing my friends wisely from there.
KRG did not also hold back while discussing the amount he pays for his three children’s school fees, around Sh. 4.8 million annually.
How much is the school fees amount you pay for your kids?
Watoto wangu wanasoma Nairobi, kuna mmoja nalipa laki saba (700,000), kuna mwingine nalipa laki sita (600,000), na kuna mwingine nalipa laki tatu (300,000).
Translation to English; My kids’ school in Nairobi, there is one that I pay Sh. 700,000, the other one Sh. 600,000, the other one Sh. 300,000.
Na kuna mwingine ndio anataka kuanza shule, ukipiga kwa jumla haraka haraka, kwa mwaka, mtoto mmoja anachukua milioni mbili na laki (2,100,000), mwingine anachukua milioni moja laki nane (1,800,000), mwingine laki tisa (900,000).
Translation to English; The other one is yet to begin. If you do the quick math, you will find in a year, I pay for one child Sh. 2,100,000, the other takes Sh. 1,800,000 and the other one Sh. 900,000
Mwingine wa mwisho ambaye ana miaka tatu akianza shule nitawepea mambo.
Translation to English; The last born is three years and he is yet to join school when he does, I will give you the details.