Natie Kirsh, a Swazi billionaire noted for his wealth and business endeavors in the food supply industry, has seen a significant gain in his net worth, recouping losses from earlier this year. The increase not only strengthens his position as Eswatini’s richest man, but also raises his profile among Africa’s billionaires.
Kirsh’s net worth has climbed by $100 million over the past nine days, from $7.48 billion on Jan. 9 to $7.58 billion as of Jan. 18. The Bloomberg Billionaires Index analyzes the fortunes of the world’s 500 wealthiest billionaires. The average daily gain throughout this time period was an amazing $11.1 million.
Kirsh’s recent $100-million wealth rise is attributed to the remarkable performance of his private assets in Kirsh Group, a conglomerate that owns a majority position in Jetro Holdings, a well-known food supply company. During the first ten days of the new year, Kirsh’s net worth decreased by $55 million.
Kirsh, ranked 310th on the Bloomberg Billionaires Index, gets a major amount of his income from private assets. His closely held conglomerate Kirsh Group, which owns a majority stake in Jetro Holdings, a prominent food supply company, is currently valued at $205 million.
According to Bloomberg, Kirsh’s 75 percent stake in Jetro Holdings — a New York-based consumer goods holding company that oversees two wholesale grocery enterprises in the United States, Jetro Cash & Carry and Restaurant Depot — is now worth $5.12 billion, accounting for more than 65 percent of his $7.58 billion net worth.
In addition to his position in Jetro Holdings, the Swazi billionaire holds a 54% ownership in Abacus Property Group (ABG), a publicly traded real estate investment trust based in Sydney. His investment in ABG has decreased by $19 million in recent months, from $349 million on January 9 to $330 million at the time of writing.
Kirsh’s property portfolio also includes Tower 42, London’s pioneering office tower, which is currently worth at $364 million, and the Jandakot Airport in Perth, Australia. The recent increase in his fortune cements his place among the world’s wealthiest people.