Swazi billionaire Natie Kirsh, who is known for his vast wealth and business ventures in the food supply industry, has witnessed a remarkable increase in his net worth, bouncing back from previous losses this year. The surge not only solidifies his position as Eswatini’s richest man but also reinforces his standing among Africa’s billionaires.
According to the Bloomberg Billionaires Index — which tracks the fortunes of the world’s 500 wealthiest billionaires — Kirsh’s net worth has increased by $100 million over the past nine days, rising from $7.48 billion on Jan. 9 to $7.58 billion as of Jan. 18. The average daily gain during this period amounted to an impressive $11.1 million.
The recent $100-million boost in Kirsh’s wealth is linked to the outstanding performance of his private investments in Kirsh Group, a conglomerate with a majority stake in Jetro Holdings, a renowned food supply company. Notably, Kirsh had faced a setback in the first ten days of the new year when his net worth plunged by $55 million.
Kirsh secures 310th spot among the world’s wealthiest billionaires
Holding the 310th spot on the Bloomberg Billionaires Index, Kirsh derives a significant portion of his wealth from private investments. His closely held conglomerate Kirsh Group, which holds a majority position in Jetro Holdings — a prominent food supply company — is presently valued at $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 now worth $5.12 billion, accounting for more than 65 percent of his $7.58-billion fortune.
Kirsh’s broad investments extend to London’s Tower 42 and Sydney’s ABG
In addition to his investment in Jetro Holdings, the Swazi billionaire owns a 54-percent stake in Abacus Property Group (ABG), a publicly traded real estate investment trust headquartered in Sydney. His stake in ABG has declined by $19 million in recent times, falling from $349 million on Jan. 9 to $330 million at the time of drafting this report.
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. The recent surge in his fortune solidifies his position among the world’s wealthiest individuals.