In October of 2018, Cosmas Korir became an instant multimillionaire after winning Sh208 Million SportPesa Mega Jackpot.
Nearly three years later, the aspiring politician has spoken out about how he spent his life-changing windfall.
In an interview with Nation at his Bomet home, Cosmas Korir said the entire Sh208,765,000 hit his account as soon as he left Sportpesa offices at Chancery House in Nairobi.
The first thing he wanted was a new car and he went on to splash Sh12 million on a Toyota Land Cruiser V8.
He then gave his two betting friends Sh5 million each.
As NairobiWire had earlier revealed, Korir had teamed up with his friends while placing the winning bet. They had promised each other to share should they win.
“We were three of us and as usual we sat down and strategized on the teams we should bet our money on. My friends did not have money, so I shared with them Sh200 so that they could bet on five teams each while I decided to bet on seven teams,” he said.
Korir then spent Sh2 million to complete his rural house in Bomet that had stalled after he ran out of cash. He also cleared what was left of a Sh3.5million loan he had taken to construct his house.
The Mega jackpot winner then moved to Eldoret where he bought a flat to settle his family. They now live there.
Korir mentioned that he received overwhelming unsolicited investment advice from friends and well-wishers and he decided to lock Sh130 million in a fixed deposit account.
This allowed him to think and process what he needed to do. After about six months, Korir decided to venture into real estate where he bought two flats in Kitengela.
He first bought a flat of 86 rooms in Kitengela at a cost of Sh50 million and named it Double KK. If fully occupied, the flat has a monthly rental income of Sh570,000.
But Korir says the challenges of the real estate sector make it difficult to have full occupancy at any given time and the flats fetch about Sh400,000 on a good month
Seeing how lucrative the first flat was, he went back to Kitengela and bought a second one. This flat was a mix of 25 one-bedroomed houses and 71 bedsitters, bringing it to a total of 96 rooms.
This second flat cost him Sh65 million, it has an estimated rental income of Sh820,000 per month when fully occupied.
Cosmas Korir also invested in machinery and bought several parcels of land in Eldoret. He is also currently building a mansion and is preparing to run in the 2022 General Election.