Swazi billionaire Natie Kirsh is now richer than U.S. billionaires David Sun, John Tu

The recent increase in the valuation of New York-based conglomerate Jetro Holdings, a food supply business that manages two U.S. wholesale grocery businesses, has catapulted renowned Swazi billionaire businessman Nathan “Natie” Kirsh to the position of the world’s 272nd richest man.

Kirsh, one of the wealthiest billionaires of African descent, has seen his net worth surpass the wealth valuation of U.S. billionaires David Sun and John Tu, who were richer than him by more than $1 billion at the start of the year.

Kirsh’s net worth has risen by $215 million since the beginning of the year, from $8.27 billion to $8.49 billion, while the net worth of Sun and Tu, co-founders of Kingston Technology, the world’s largest independent maker of computer memory products, has fallen by $1.46 billion to $8.33 billion, respectivly.

The recent surge in Kirsh’s net worth above the $8.45-billion mark can be linked to the revaluation of his 75-percent stake in Jetro Holdings, a New York-based company that manages Jetro Cash & Carry and Restaurant Depot.

The increase in the holdings’ valuation comes after its subsidiary Restaurant Depot announced plans to expand its Alexandria location in response to a pandemic-fueled surge in food demand.

The food service supplier is now seeking approval in Alexandria, a town in New York’s Thousand Islands region, to add 27,123 square feet (0.25 hectares) to its existing building at 4600 Eisenhower Ave., bringing it to just under 100,000 square feet (0.93 hectares).

The recent jump in Kirsh’s net worth solidifies his position as one of Africa’s richest businessmen, as he closes in on South African billionaire Nicky Oppenheimer, who is currently Africa’s third-richest man with an $8.55-billion net worth.