Kirsh has an estimated wealth of E81.8 billion and sits at number 8 on the continent, two positions above South Africa’s Dr. Patrice Motsepe, who is ranked number 10, with an estimated wealth of E44 billion.
By Avite Mbabazi
Eswatini’s very own Nathan Kirsh appears once again alongside some of the continent’s wealthiest people for the year 2022. Kirsh was born in South Africa, but identifies as Swati.
The list of the richest people in Africa was published in June 2022 by Statista, a German company specializing in market and consumer data, which provides more than 1 million statistics on a range of topics from across industries.
The data reveals that as of June 2022, Nathan Kirsh has an estimated net worth of E81.8 billion (4.8 Billion US Dollars), and is ranked as the 8th wealthiest individual in Africa. Statista notes that Mr. Kirsh’s wealth comes largely from retail.
Bloomberg also notes that Nathie Kirsh, as he is affectionately known controls Kirsh Group, a closely held conglomerate with a majority stake in food supply business Jetro Holdings, and the College Point, New York-based business, has Jetro Cash & Carry and Restaurant Depot stores across more than 30 states in the US. He also has private equity investments and property on four continents.
The wealthiest man on the continent is Nigerian cement and sugar Mogul Ali Dangote. At almost double the wealth of the next person on the list, Ali Dangote has a staggering estimated net worth of E254 billion (14.9 Billion US Dollars), making him the 125th richest person in the world.
Regionally, two South Africans Nick Oppenheimer and Johann Rupert with their families are placed 2nd and 3rd consecutively. Nick Oppenheimer and his family have an estimated wealth of E146 billion (8.6 Billion U.S Dollars), while Johann Rupert and his family’s wealth stands at E127 billion (7.5 US Billion Dollars). Patrice Motsepe concludes the African top ten with an estimated wealth of E44 billion.
Worth noting is that Nathan Kirsh, the two South African families and Patrice Motsepe, who is placed at number 10, are the only Southern Africans to make the top ten.
Globally, the world richest people’s wealth dwarfs that of their African counterparts. Warren Buffet, who is only the 7th richest person in the world, has an estimated net worth 8 times that of Ali Dangote at E1.9 trillion (116 US Billion Dollars).
Despite Eswatini’s notable representation on the list, the number of billionaires in Africa is still mainly concentrated in South Africa, Egypt and Nigeria, the three continental economic powerhouses, while the cities of Cape Town and Johannesburg in South Africa boast the highest number of High-Net-worth Individuals (HNWIs).