Nathan Kirsh Net Worth is$3.1 Billion
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Profession: Entrepreneur | Investor
Date of Birth: Jan 6, 1932
Nathan Kirsh net worth: Nathan Kirsh is a South African business magnate who has a net worth of $3.1 billion. Nathan Kirsh owns a property empire that spans across the United Kingdom, Swaziland and Australia. Kirsh has started small in his native Swaziland, establishing a corn milling business in the country in 1958. He expanded his business in apartheid South Africa, turning it from a wholesale food distribution into a variety of other categories like supermarkets and commercial property development. But then 49% of the company were bought up by Sanlam, a South African insurance company that reached agreements on the company's behalf to build a slew of financially unfeasible shopping malls that were supported by company assets. Subsequently, Kirsh went bankrupt. He later managed to recover his fortune, thanks to Jetro Holdings, which operates Jetro Cash and Carry stores and Restaurant Depots in the New York City area, supplying wholesale goods to bodegas, small stores and restaurants. Today, bulk of his wealth comes from Jetro Holdings, in which he has a 63 percent stake. Apart from businesses, Kirsh is an active charity supporter, especially in his native Swaziland, where he has supplied more than 10,000 people with starter capital for small businesses. Also, he is dedicated on the cause Swazi high schools to be the first in Africa to guarantee graduates are computer literate. Although carrying a Swazi passport, this Swazi billionaire also holds residency status in the United Kingdom and the United States. He and his wife Frances Herr have three children, one son and two daughters.
Nathan Kirsh (born 6 January 1932) is a South African business magnate, with a property empire spanning the United Kingdom, Swaziland and Australia. He carries a Swazi passport. However, he also has residency status in the United Kingdom and the United States. He and his wife Frances Herr have one son and two daughters.
Kirsh obtained a Bachelor of Commerce at the University of Witwatersrand and holds an Honorary Doctor of Law at the University of Swaziland.
Nathan Kirsh left South Africa permanently for Swaziland in 1986 after a business partnership between his company, Kirsh Industries, and Sanlam, one of South Africaa??s leading financial services groups, unravelled.
His main holding group, Kirsh Holdings Group, owns Swazi Plaza Properties a?? his biggest interest in that country a?? in a 50/50 partnership with the government-owned Swaziland Industrial Development Company (SIDC). Kirsh owns Ki Corporation, a Liberian-domiciled company that is held by the Eurona Foundation. Through Kifin Limited, part of Ki Corporation, Kirsh holds a 29.9% stake in London-based property developer Minerva (property firm). Kirsh recently made British headlines for an attempted takeover bid of Minerva (property firm), although he pulled out in early January 2010. a??The offer was made at 50p a share in cash, valuing Minerva at about A?85m, and needed 50 per cent of stock.a?? However, the offer was considered to undervalue the company. The Eurona Foundation is a trust organised in Liechtenstein. Kirsh and Prince Michael von Liechtenstein are the two trustees of the foundation. The Eurona Foundation also majority owns (84.5%) another of Kirsha??s companies, Mira Mag, which in turn owns a significant stake in Israeli security company, Magal Security Systems.
Kirsha??s companies are registered in tax havens such as the British Virgin Islands and Liberia, listed on the Organisation for Economic Co-operation and Developmenta??s tax-haven a??Grey lista??.
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Posted: April 4, 2016, 5:00 pm
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