Natie Kirsh, Eswatini's Richest Man, Nears 10 Billion After 521 Million Gain This Year

Eswatinis richest man, Natie Kirsh, is showing no signs of slowing down after gaining nearly 2 billion in 2024. In 2025, his fortune has grown by another 521 million, pushing his net worth closer to the 10 billion mark, according to the Bloomberg Billionaires Index .

Kirsh, who started his business journey in 1952 after inheriting his familys sorghum-malt manufacturing business, turned a modest 1,200 1,524 inheritance into a thriving enterprise in corn and malt milling. His wealth has now climbed from 9.3 billion to 9.85 billion, adding to the 1.77 billion he gained in 2024 when his net worth rose from 8.41 billion to 9.3 billion.

The latest boost in his net worth comes from his 75-percent stake in Jetro Holdings, a New York-based consumer goods company that owns two major U.S. wholesale grocery businesses: Jetro Cash Carry and Restaurant Depot. Since the beginning of the year, the value of his stake in Jetro Holdings has risen from 6.7 billion to 7.2 billion.

Jetro Holdings 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 are down more than 6 percent this year, Costco, Kroger, and Metro have all seen their stock prices climb as investors and analysts adjust their earnings forecasts to reflect shifting market trends.

Natie Kirshs wealth isnt just tied to Jetro Holdings. He owns a 54 percent stake in Abacus Property Group, a publicly traded real estate investment trust in Sydney, valued at 340 million. His privately held conglomerate, Kirsh Group, which controls Jetro Holdings, is worth 205 million. He also holds a stake in Abacus Storage King, estimated at 337 million.