Natie Kirsh, Eswatini’s richest individual and one of Africa’s most prominent billionaires, has seen his fortune shrink by 730 million dollars over the past four months as market revaluations weighed on parts of his portfolio, even as he pursues new global acquisitions.
According to data from the Bloomberg Billionaires Index, Kirsh’s net worth dropped from 10.4 billion dollars on June 1 to 9.67 billion dollars by the end of September.
The decline follows a strong run earlier in the year, when his wealth climbed by more than 1.1 billion dollars between April and June on the back of stronger investor confidence.
The downturn has been attributed largely to revaluations tied to his stake in Jetro Holdings, the U.S.-based wholesale food supply company where he holds a controlling interest.
Jetro operates Jetro Cash & Carry and Restaurant Depot across more than 30 states and remains the backbone of Kirsh’s business empire. His broader portfolio also includes private equity and property assets spread across four continents.
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Despite the recent setback, Kirsh’s fortune remains relatively resilient, standing around 338 million dollars higher than it was at the beginning of the year.
He continues to rank among Africa’s wealthiest individuals, though he is not included on Forbes Africa’s billionaire index because much of his business footprint is international.
Kirsh, who began his career with a 1,200 pounds inheritance from his father, has steadily built a diversified global portfolio through his investment vehicle, Ki Corporation.
The company is currently leading a consortium with U.S.-based Public Storage in a 1.42 billion dollars bid for Australian self-storage operator Abacus Storage King.
The revised offer, submitted in July after an initial rejection, pushed Abacus shares up more than seven percent. The acquisition reflects Kirsh’s strategy of focusing on stable, income-generating assets as a hedge against market volatility.
While his fortune has faced downward pressure in recent months, his ongoing expansion efforts highlight a long-term approach to sustaining and growing his global investment presence.
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Image Credit: Business Elites Africa
