Nathan “Natie” Kirsh, a leading Swazi businessman and one of Africa’s wealthiest billionaires, has increased his net worth by $430 million in the past 35 days, bringing his year-to-date net-worth loss below $400 million.
Kirsh, who grew his father’s inheritance of £1,200 ($1,630) into a billion-dollar business through his privately held conglomerate Kirsh Group, is Eswatini’s richest man.
According to data from the Bloomberg Billionaires Index, his net worth has risen by $430 million since June 22, exactly 35 days ago, from $7.46 billion to $7.89 billion at the time of writing this report.
The bump in his net worth can be attributed to an increase in the valuation of his 75-percent stake in Jetro Holdings, a New York-based conglomerate that accounts for the majority of his fortune and provides him with indirect involvement in the consumer products industry.
The market value of his 75-percent stake in Jetro Holdings has recently risen by $170 million, from $4.7 billion to $4.87 billion. In the United States, the New York-based group operates two wholesale grocery businesses: Jetro Cash & Carry and Restaurant Depot.
The value of Jetro Holdings is determined by averaging the enterprise value-to-sales multiples of four publicly traded peers: Costco Wholesale, Kroger, Metro, and Loblaw Companies.
Despite the recent increase in his net worth, the year-to-date change in his net worth remains negative, with his fortune declining by $386 million since the start of the year.
With a multimillion-dollar net worth decline since the year began, Kirsh remains one of Africa’s richest billionaires.
In addition to his stake in Jetro Holdings, the leading billionaire also owns 54 percent of Sydney-based Abacus Property Group, a publicly traded real estate investment trust.
He also owns property on four continents in addition to his equity stakes in companies, including London’s first office skyscraper, Tower 42, and Perth, Australia’s Jandakot Airport.
