Swazi billionaire Natie Kirsh's fortune grows by $72.9 million

Swazi billionaire Nathan Kirsh (Natie Kirsh), has bounced back from a challenging start to the year, with a notable surge in his net worth.

After experiencing a considerable decline in the first 70 days of 2023, Kirsh has joined the ranks of African billionaires who have enjoyed a remarkable increase in their net worth since the start of the year.

According to data tracked by Bloomberg Billionaires Index, Kirsh has seen his net worth increase by $72.9 million since the start of the year, from $7.45 billion on Jan. 1 to $7.53 billion at the time of writing this report.

The impressive uptick in his fortunes comes on the heels of a challenging start to the year, during which his net worth plummeted by a significant $370 million in the first 70 days of 2023, dropping from $7.45 billion to $7.08 billion.

In recent times, the surge in his net worth can be attributed to his private investments through Kirsh Group, a closely held conglomerate.

Kirsh Group owns a significant majority stake in the leading food supply company Jetro Holdings, which manages two wholesale grocery businesses in the United States – Jetro Cash & Carry and Restaurant Depot.

In addition to his stake in Jetro Holdings, Kirsh who turned his father’s inheritance of £1,200 ($1,630) into a billion-dollar conglomerate through his privately held Kirsh Group, owns 54 percent of Sydney-based Abacus Property Group, a publicly-traded real estate investment trust.

Kirsh’s global property holdings are equally noteworthy, including London’s first-ever office skyscraper, Tower 42, and the Jandakot Airport in Perth, Australia.

While the market value of most of his properties has remained stable this year, Tower 42, one of London’s iconic skyscrapers, has experienced a dip in value of almost $10 million since the year began, falling from $373 million to $364 million.

This decline comes amidst ongoing property market disruptions, as buyers and sellers adjust to the new era of higher interest rates.

Analysts predict that London’s home prices, which have long been a popular investment for foreign buyers, may fall by five percent this year before rebounding by two percent in 2024 and four percent in 2025.