Natie Kirsh, Eswatini’s richest man, renowned for his vast wealth and business ventures in the food supply industry, has experienced a decline in his net worth since the start of the new year. This comes on the heels of a significant surge in his fortune in the preceding year.
According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s top 500 billionaires, Kirsh’s net worth has decreased by $55.4 million since the start of 2024 — falling from $7.61 billion on Jan. 1 to $7.56 billion at the time of writing.
The latest $55.4-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 $160-million bump in 2023, when his net worth increased from $7.45 billion to $7.61 billion.
Kirsh drops to 321st spot among the world’s wealthiest individuals
As the 321st richest man in the world and the richest man in Eswatini, Kirsh derives his wealth from private investments. His closely held conglomerate Kirsh Group — which holds a majority position in the food supply group Jetro Holdings— is presently worth $205 million.
Going by Bloomberg’s figures, Kirsh’s 75-percent stake in Jetro Holdings — a New York-based consumer goods holding company overseeing two wholesale grocery enterprises in the United States, namely Jetro Cash & Carry and Restaurant Depot — is currently worth $5.05 billion, accounting for more than 66 percent of his entire $7.55-billion wealth.
Kirsh’s Sydney-based asset drops below $350 million
In addition to his investment in Jetro Holdings, the Swazi billionaire owns a 54-percent stake in Abacus Property Group, a publicly traded real estate investment trust headquartered in Sydney. This asset experienced a slight downturn of $5 million, sliding from $354 million since the year’s inception to $349 million.
Kirsh’s property portfolio also includes Tower 42, London’s pioneering office skyscraper presently valued at $364 million, and the Jandakot Airport in Perth, Australia. Despite this decrease, Kirsh remains firmly positioned as the wealthiest individual in Eswatini and among Africa’s most affluent businessmen.
