Natie Kirsh, Africa's Oldest Billionaire, Is Half A Billion Dollars Richer This Year
- The rising value of Natie Kirshs 75 stake in Jetro Holdings added 504 million to his fortune, boosting his net worth to 9.83 billion.
- His diverse assets include a 476 million stake in Jetros real estate unit and a 364 million London skyscraper, Tower 42.
- At 93, Kirsh remains Eswatinis richest man, ranking 290th on Bloombergs Billionaires Index as his fortune continues to expand.
Natie Kirsh, Eswatinis richest man and Africas oldest billionaire, is half a billion dollars richer this year, strengthening his position among the worlds wealthiest individuals. At 93, his net worth has grown by 504 million since January, pushing his net worth from 9.3 billion to 9.83 billion, according to the Bloomberg Billionaires Index .
Jetro stake boosts Kirshs fortuneMost of Kirshs wealth comes from his 75-percent stake in Jetro Holdings, a New York-based wholesale grocery giant that owns Jetro Cash Carry and Restaurant Depot. The rising value of his stakeup from 6.7 billion on Jan. 1 to 7.21 billionfueled his latest gains. This follows a 1.77 billion increase in 2024 when his net worth jumped from 8.41 billion to 9.3 billion.
Jetros valuation is based on the enterprise value-to-sales multiples of four publicly traded peersCostco Wholesale, Kroger, Metro, and Loblaw Companiesaccording to Bloomberg. While Loblaws shares have dropped more than 6 percent this year, Costco, Kroger, and Metro have climbed as analysts adjust their earnings forecasts to reflect shifting market trends.
How Natie Kirsh built his fortuneKirshs journey to immense wealth began in 1952 when he took over his familys sorghum-malt business after graduating from the University of Witwatersrand. With a modest inheritance of 1,200 1,524, he expanded into corn and malt milling, helping Eswatini reduce its reliance on South Africa for staple foods. What started as a small family business grew into a multinational empire spanning wholesale retail, real estate, and other industries, solidifying his reputation as a visionary entrepreneur.
Beyond his stake in the New York-based wholesale grocery giant, Kirshs wealth is spread across various assets. His stake in Jetro Holdings real estate unit is worth 476 million, while his 54-percent stake in Sydney-listed Abacus Property Group is valued at 334 million. His privately held conglomerate, Kirsh Group, which controls Jetro Holdings, is worth 205 million, and his stake in Abacus Storage King is estimated at 342 million.