Swazi billionaire Natie Kirsh, renowned for his vast wealth and extensive business ventures within the food supply industry, has faced a notable downturn in his net worth. This comes on the heels of a recent surge in his fortune.
According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s top 500 billionaires, Natie Kirsh’s net worth has suffered a decline of $170 million in the past 28 days, falling from $7.26 billion on Sept. 14 to $7.12 billion at the time of writing.
The latest $170-million slump in his fortune, which can be linked to the performance of his private investments in Kirsh Group, a conglomerate with a majority stake in Jetro Holdings, a renowned food supply company, follows a $330-million bump between Aug. 6 and Sept. 14, when his net worth increased from $6.93 billion to $7.26 billion.
Through his interest in Kirsh Group, Kirsh owns a 75-percent equity stake in Jetro Holdings, which oversees Jetro Cash & Carry and Restaurant Depot, two prominent wholesale grocery enterprises in the United States.
Going by Bloomberg’s figures, Kirsh’s stake in Jetro Holdings, which is presently worth $4.76 billion — accounting for the majority of his $7.12-billion fortune — has declined by $90 million in the past 28 days.
Kirsh Group, serving as the holding company for Kirsh’s investments, also saw its value dip by $100 million, falling from $305 million on Sept. 14 to $205 million.
In addition to his investment in Jetro Holdings, the Swazi billionaire who transformed a modest £1,200 ($1,630) inheritance into a billion-dollar conglomerate owns 54 percent of Sydney-based Abacus Property Group, a publicly-traded real estate investment trust.
Kirsh’s global property holdings include London’s first-ever office skyscraper, Tower 42, and the Jandakot Airport in Perth, Australia.