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Nathan Kirsh, a Swazi businessman and one of the richest billionaires of African descent, has seen his net worth increase by $1.7 billion since the start of the year, as investments made through his conglomerate, Kirsh Group, surge in value.
The value bump translates to an average gain of $4.8 million per day since the start of the year for the billionaire businessman, who holds passive investments and real estate assets across four continents, including Africa.
Kirsh holds the majority of his investments through Kirsh Group, a family-owned conglomerate that maintains private equity investments in Africa, Asia, the United States and Europe.
The conglomerate controls a majority 75-percent stake in Jetro Holdings, a leading consumer goods business that controls Jetro Cash & Carry and Restaurant Depot stores across more than 30 states in the United States.
In addition, information gathered by Billionaires.Africa from the annual report of the Sydney-based real estate investment trust, Abacus Property Group, revealed that Kirsh holds a majority 54-percent stake in the trust through Kirsh Group.
The surge in Kirsh’s fortune in 2021 can be linked to the revaluation of investments held through Kirsh Group and a surge in the valuation of Jetro Holdings, which accounts for the majority of his wealth.
As of the time of the writing of this report, the Swazi billionaire ranks among the richest men in Africa and is one of the top five wealthiest billionaires in Southern Africa.
Data retrieved from the Bloomberg Billionaires Index revealed that his net worth since the start of the year has risen from $6.46 billion on Jan. 1 to $8.15 billion on Dec. 19.
This translates to a 26.3-percent value bump, or an additional $1.7 billion, in the past 353 days.
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