![Natie Kirsh becomes Africa’s 3rd richest person as his $5.29b surge tops Rabiu’s $4.47b [Bloomberg]](https://ocdn.eu/pulscms/MDA_/9c900f241e2b7a4aa4b1affd01d8c268.jpg)
Following reports regarding a $29 billion divestment by Natie Kirsh, the South African billionaire has ascended to the position of the third-wealthiest individual in Africa, surpassing Nigeria’s Abdulsamad Rabiu.
- Natie Kirsh has become Africa’s third-richest person, overtaking Abdulsamad Rabiu.
- Rabiu’s net worth increased from $10.4 billion to $14.6 billion earlier this year but now stands at $4.3 billion.
- Kirsh currently has a net worth of $15.0 billion, ranking 192nd globally, compared to Rabiu’s current 201st position.
- Kirsh’s wealth surge may be linked to his reported divestment of Restaurant Depot LLC for $29 billion, with Sysco Corp. as the main buyer.
Throughout the year, the Nigerian billionaire had risen to the third richest person on the continent, jumping from a net worth of $10.4 billion at the start of the year to $14.6 billion in March, per data from Bloomberg.
This figure represented a $4.47 billion year-to-date increase, propelling him to the 197th richest person in the world and 3rd in Africa.
The Nigerian industrialist currently has a net worth of $4.3 billion, maintaining the position he held last month.
However, this impressive figure now falls behind Natie Kirsh’s $5.29 billion, year-to-date growth, making him the 192nd richest person in the world, with a net worth of $15.0 billion, according to Bloomberg’s real-time index.
This is a far cry from reports in October last year, which showed that the South African-born businessman lost $730 million in the four months leading to October, due to market revaluations, even as he pursued international acquisitions.
Natie Kirsh’s latest move
Natie Kirsh’s recent growth could be tied to his move to divest one of his oldest and most valuable holdings for the whopping sum of $29 billion.
Reports at the end of March showed that Natie Kirsh is looking to sell Restaurant Depot LLC, a cash-and-carry business that has netted the billionaire a fortune since it was founded in 1976.
Sysco Corp., a prominent food distributor based in the United States, occupies a central role in this transaction and is reportedly nearing the finalization of the agreement.
With 166 locations in 35 states, Restaurant Depot brought in almost $16 billion last year.
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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.
