Natie Kirsh, Eswatini’s richest man, loses $110 million in less than a week

Key Points:

• Natie Kirsh’s net worth dropped by $110 million in less than a week, falling from $8.68 billion to $8.57 billion.
• Despite the decline, Kirsh remains the world’s 304th richest billionaire with year-to-date gains of $954 million, outperforming other African billionaires.
• Kirsh’s wealth is heavily tied to Jetro Holdings, valued at $5.95 billion, and he also holds significant real estate investments including London’s Tower 42.

Swazi billionaire Natie Kirsh has experienced a significant decline in his net worth, shedding $110 million in less than a week. According to the Bloomberg Billionaires Index, Kirsh’s net worth fell from $8.68 billion on June 7 to $8.57 billion as of the latest report.

Previous gains and current losses

Earlier this month, Kirsh’s fortune saw a substantial increase of $270 million, rising from $8.41 billion on June 1 to $8.68 billion by June 7. This boost reinforced his status as Eswatini’s richest man and bolstered his position among the world’s wealthiest individuals.

The recent $110 million decline in Kirsh’s net worth is primarily attributed to the performance of his 75-percent stake in Jetro Holdings. Jetro Holdings, a New York-based consumer goods holding company, oversees two prominent wholesale grocery enterprises in the United States: Jetro Cash & Carry and Restaurant Depot.

Natie Kirsh among top billionaires despite slump

Despite the recent slump, Kirsh’s net worth still stands at $8.57 billion, making him the world’s 304th richest billionaire, according to the Bloomberg Billionaires Index. He has enjoyed year-to-date wealth gains of nearly $1 billion ($954 million), surpassing other notable African billionaires. For example, Kirsh’s wealth increase exceeds that of Nicky Oppenheimer, whose net worth has risen by $950 million this year.

Other African billionaires with significant gains this year include South Africa’s richest man Johann Rupert, whose fortune has surged by $1.6 billion. Egyptian billionaires Nassef and Naguib Sawiris have seen their fortunes rise by $448 million and $280 million, respectively. Meanwhile, Africa’s richest man, Aliko Dangote, has recorded a modest increase of just $23.5 million.

Kirsh’s investments and wealth distribution

Kirsh’s wealth is largely derived from his substantial investment in Jetro Holdings, which is currently valued at $5.95 billion, accounting for over 65 percent of his $8.57 billion fortune. Additionally, he holds a 54-percent stake in Abacus Property Group, a publicly traded real estate investment trust based in Sydney, valued at $344 million.

Apart from his investments in high-performing companies, Kirsh boasts a multimillion-dollar property portfolio. Notable assets include London’s Tower 42 office skyscraper, valued at $364 million, and Jandakot Airport in Perth, Australia.