Swazi billionaire Natie Kirsh’s net worth slumps by $260 million

Yusuf Abdulfatai -

Swazi billionaire Natie Kirsh, renowned for his vast wealth and extensive business ventures within the food supply industry, has encountered a significant downturn in his net worth. This setback follows a recent surge in his fortune.

According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s top 500 billionaires, Kirsh’s net worth has experienced a decline of $260 million in the past 20 days, dropping from $8.32 billion on March 27 to $8.06 billion at the time of drafting this report.

This dip comes after a recent surge when his net worth jumped $140 million between March 12 and March 27, from $8.18 billion to $8.32 billion.

Kirsh’s fortune drops $260 million

The $260-million decline in his fortune is attributed to the performance of his 75-percent stake in Jetro Holdings, a New York-based consumer goods holding company that oversees two prominent U.S. wholesale grocery businesses: Jetro Cash & Carry and Restaurant Depot.

Kirsh’s wealth is largely tied to private investments, with his Kirsh Group holding a majority position in Jetro Holdings. On the Bloomberg Billionaires Index, he is the world’s 312th richest person. His stake in Jetro Holdings is currently valued at $5.5 billion, making up most of his $8.06-billion fortune. Over the past 20 days, this stake has fallen by $180 million.

Kirsh’s Abacus stake loses $26 million

In addition to Jetro Holdings, Kirsh maintains a 54-percent stake in Abacus Property Group, a Sydney-based publicly traded real estate investment trust. However, over the past 20 days, the value of this asset has declined by $26 million, falling from $368 million to $342 million.

Kirsh’s property portfolio includes significant assets like Tower 42, London’s leading office skyscraper, valued at $364 million in 2024, and Jandakot Airport in Perth, Australia. Despite the recent decrease in his net worth, Kirsh remains the wealthiest individual in Eswatini and continues to rank among Africa’s most affluent businessmen.