Table of Contents
Key Points
- Eswatini’s richest man, Natie Kirsh, has gained $521 million in 2025, pushing his net worth to $9.85 billion, according to the Bloomberg Billionaires Index.
- His 75% stake in Jetro Holdings has risen from $6.7 billion to $7.2 billion, driven by strong market performance of key U.S. wholesale peers.
- Kirsh’s fortune spans real estate and private holdings, including a $364 million London skyscraper and a $340 million stake in Abacus Property Group.
Eswatini’s 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 family’s 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.
Jetro Holdings strengthens financial standing
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 peers—Costco Wholesale, Kroger, Metro, and Loblaw Companies—according to Bloomberg. While Loblaw’s 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 Kirsh’s broad business empire
Natie Kirsh’s wealth isn’t 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.
Beyond these holdings, Kirsh’s real estate investments add even more to his fortune. His portfolio includes Tower 42, a landmark office skyscraper in London valued at $364 million, and Jandakot Airport in Perth, Australia. The recent rise in his wealth cements his status as Eswatini’s richest man and secures his place among the world’s wealthiest individuals. He currently ranks 297th on the Bloomberg Billionaires Index.
