Natie Kirsh, Eswatini’s richest individual and one of Africa’s most prominent billionaires, has seen his net worth fall by $730 million over the past four months due to market revaluations, even as he pursues new international acquisitions.
- Natie Kirsh has seen a $730 million decline in his fortune over four months, dropping from $10.4 billion to $9.67 billion.
- Kirsh’s investment endeavors include a consortium bid for a $1.42 billion acquisition of Abacus Storage King.
- The decrease is attributed to asset revaluations, particularly at Jetro Holdings, which is central to his business interests.
- Despite the downturn, his net worth remains $338 million higher than at the beginning of the year.
Data from the Bloomberg Billionaires Index indicates that Kirsh’s net worth has fallen by $730 million since June 1, declining from $10.4 billion to $9.67 billion by the end of September. The reversal follows a strong performance earlier in the year, when his wealth increased by more than $1.1 billion between April and June on the back of stronger investor confidence.
Asset Revaluations Weigh on Holdings
The downturn is largely attributed to asset revaluations across parts of his portfolio, particularly Jetro Holdings, the U.S.-based wholesale food supply company in which he holds a controlling interest. Jetro, which operates Jetro Cash & Carry and Restaurant Depot across more than 30 states, remains the cornerstone of Kirsh’s business empire. His holdings also include private equity investments and property assets across four continents.
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Resilient Fortune Despite Setback
Despite the recent decline, Kirsh’s wealth remains resilient, standing approximately $338 million higher than at the beginning of the year. He continues to rank among Africa’s wealthiest figures, although he is not listed on Forbes Africa’s billionaire index due to the predominantly international footprint of his businesses.
Acquisition Strategy Expands Global Reach
Kirsh, who began his business career with a £1,200 inheritance from his father, has built a diversified portfolio over several decades. His investment vehicle, Ki Corporation, is currently leading a consortium with U.S.-based Public Storage in pursuit of a $1.42 billion acquisition of Australian self-storage operator Abacus Storage King. The consortium’s revised bid, tabled in July after an earlier offer was rejected, boosted Abacus shares by more than seven percent.
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The proposed acquisition underlines Kirsh’s strategy of targeting stable, income-generating businesses to offset market volatility. While revaluations have weighed on his fortune in recent months, his continued expansion efforts illustrate a long-term approach to sustaining and growing his global investment footprint.
