London Office Skyscraper Owned By Eswatini's Richest Man Loses 76 Million In Value
- Natie Kirsh acquired Londons Tower 42 for 440 million in 2011, expanding his real estate portfolio with commercial and residential assets.
- Despite a 76 million drop in Tower 42's value, Kirsh's wealth grew from under 4 billion to 9.3 billion since 2011.
- Kirsh's 75 stake in Jetro Holdings, valued at 6.7 billion, comprises over 70 of his net worth, marking his global business influence.
Nathan Kirsh Natie Kirsh, widely regarded as one of Africas most accomplished real estate developers and the richest man in Eswatini formerly Swaziland, made headlines in December 2011 when he acquired Tower 42 , Londons first office skyscraper, for 440 million, from Blackrock UK Property Fund, Hermes Property Unit Trust, and LaSalle Investment Management, expanding his diverse portfolio of commercial and residential assets.
Originally opened in 1981 as the NatWest Tower, Tower 42 was the United Kingdoms tallest building until 1990 and remained the tallest in the City of London until 2010. Despite its prominence, recent data from Bloomberg reveals that the propertys value has declined by 76 million over 13 years, dropping from 440 million at acquisition to 364 million today.
While the property has seen a decline in market value, Kirshs wealth has grown remarkably. When he acquired the iconic skyscraper at the age of 79, his net worth was under 4 billion. Today, at 93, his fortune stands at 9.3 billion, according to Bloomberg. His influence extends far beyond real estate, with a legacy that began by reducing Eswatinis dependence on South Africa for food staples and now spans the global business landscape.
Kirshs rise from Sorghum to multinational successKirshs journey began in 1952, when he inherited his familys sorghum-malt manufacturing business after graduating from the University of the Witwatersrand. With a modest inheritance of 1,200 1,524, he expanded the business into corn and malt milling, playing a pivotal role in reducing Eswatinis dependence on South Africa for staple foods.
What started as a small family business grew over the decades into a multinational empire, encompassing wholesale retail, real estate, and various other industries. This transformation cemented his standing as a visionary entrepreneur who reshaped the landscape of his region.