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After a remarkable resurgence in his wealth, Swazi billionaire Natie Kirsh, who is known for his vast wealth and business ventures, has recently experienced a significant decline in his net worth.
According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s top 500 billionaires, Kirsh’s net worth has suffered a decline of $170 million. This drop has brought his wealth down from $7.50 billion on June 30 to $7.37 billion at the time of writing.
The decline in Natie Kirsh’s fortune can be attributed to the performance of his private investments in Kirsh Group, a closely held conglomerate that holds a majority position in Jetro Holdings, a prominent food supply company.
The slump in his fortune follows a $260 million bump between June 7 and July 3, when his net worth increased from $7.28 billion to $7.54 billion. However, despite these fluctuations, Kirsh’s entrepreneurial journey and financial success remain impressive.
The renowned businessman, who transformed a modest inheritance of £1,200 ($1,630) into a billion-dollar conglomerate, derives a substantial portion of his wealth from his stake in Jetro Holdings.
Kirsh owns an impressive 75-percent equity stake in the food supply company, which operates two wholesale grocery businesses in the United States: Jetro Cash & Carry and Restaurant Depot.
In addition to Jetro Holdings, Kirsh also holds substantial shares in Abacus Property Group and Jetro Holdings, valued at $798 million and $476 million, respectively. These diverse investments contribute to Kirsh’s overall wealth and business portfolio.
Despite the recent decline in his net worth, Natie Kirsh remains one of the richest individuals in Southern Africa and ranks among the wealthiest billionaires on the African continent. His entrepreneurial achievements and strategic investments have solidified his position as a prominent figure in the business world.
