Eswatini’s Richest Man Natie Kirsh Loses $110 Million in Less Than a Week

Swazi billionaire Natie Kirsh has seen his net worth plummet by $110 million in less than a week. Kirsh’s net worth decreased from $8.68 billion on June 7 to $8.57 billion in the most recent Bloomberg Billionaires Index report.

Earlier this month, Kirsh’s fortune increased by $270 million, from $8.41 billion on June 1 to $8.68 billion on June 7. This rise cemented his reputation as Eswatini’s richest man and elevated him to the ranks of the world’s wealthiest individuals.

Kirsh’s net worth has fallen by $110 million in recent months, owing mostly to the performance of his 75 percent share in Jetro Holdings. Jetro Holdings, a New York-based consumer goods holding firm, manages two well-known wholesale grocery chains in the United States: Jetro Cash & Carry and Restaurant Depot.

Despite the current drop, Kirsh’s net worth remains at $8.57 billion, ranking him as the world’s 304th richest billionaire on the Bloomberg Billionaires Index. He has a year-to-date financial gain of about $1 billion ($954 million), exceeding other renowned African billionaires. Kirsh’s wealth growth surpasses that of Nicky Oppenheimer, whose net worth increased by $950 million this year.

Other African billionaires who have seen large gains this year include South Africa’s richest individual, Johann Rupert, whose fortune has increased by $1.6 billion. Egyptian billionaires Nassef and Naguib Sawiris’ fortunes have increased by $448 million and $280 million, respectively. Aliko Dangote, Africa’s richest man, has seen a tiny increase of $23.5 million.

Kirsh’s wealth is mostly derived from his huge stake in Jetro Holdings, which is currently valued at $5.95 billion and accounts for more than 65 percent of his $8.57 billion fortune. In addition, he owns 54% of Abacus Property Group, a $344 million publicly traded real estate investment trust based in Sydney.

Aside from his investments in high-performing firms, Kirsh owns a multimillion-dollar property portfolio. Notable properties include London’s Tower 42 office building, which is worth $364 million, and Perth’s Jandakot Airport.

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