South African billionaire 94-year-old Nathan Kirsh poses for a photograph in London in 2012.
Image: Simon Dawson | Bloomberg
South African-born businessman Nathan “Natie” Kirsh has quietly built one of the world’s largest food distribution empires, catapulting him to the top of South Africa’s rich list following a massive takeover deal involving his US business interests.
According to the latest figures from Forbes, Kirsh is now worth about $17.8 billion, placing him ahead of luxury goods magnate Johann Rupert, whose fortune is estimated at $15.9 billion.
Bloomberg values Kirsh lower at about $15.3 billion but says his wealth has surged by roughly $5.55 billion so far this year.
The sharp jump in wealth comes as US food distribution giant Sysco moves to acquire Jetro Restaurant Depot for $29.1 billion, including debt. The deal will see shareholders receive $21.6 billion in cash together with 91.5 million Sysco shares, representing about 16% of the company.
Jetro reportedly generated $2.1 billion in earnings from $16 billion in revenue during 2025.
Bloomberg describes Kirsh as the controller of privately held conglomerate Kirsh Group, which owns a major stake in food supply business Jetro Restaurant Depot. The College Point, New York-based company operates 166 Jetro Cash & Carry and Restaurant Depot stores across 35 US states, while Kirsh also has property and private equity investments spanning four continents.
Kirsh was born in Potchefstroom in 1932 and matriculated from Potchefstroom Boys High in 1949 before completing a Bachelor of Commerce degree at the University of the Witwatersrand in 1952.
He began his career helping operate the family malt factory in Potchefstroom before launching his own corn milling and malt business in Eswatini in 1958. Kirsh later returned to South Africa and, in 1970, acquired Moshal Gevisser, a wholesale food distributor with a pilot cash-and-carry programme.
At the time, apartheid laws prevented white business owners from operating directly in black townships, and the company supplied goods to black shopkeepers through its wholesale network. Moshal Gevisser expanded into one of South Africa’s dominant food retail distribution businesses.
Kirsh entered the US market in 1976 when he founded Jetro, a cash-and-carry store in Brooklyn, New York.
The business expanded significantly after the acquisition of Restaurant Depot in 1994, with the two companies later operating together under Jetro Holdings.
In 2003, billionaire investor Warren Buffett reportedly explored buying a minority stake in Jetro Holdings, although the deal was never concluded after the parties failed to agree on terms.
Kirsh also built interests outside food distribution. In the late 1970s he acquired Magal Security Systems from Israel Aerospace Industries and later listed the company on Nasdaq in 1993 before selling his stake in 2014.
Kirsh left South Africa in 1986 after selling much of Kirsh Industries to Sanlam. He now lives in Ezulwini in Eswatini with his wife, Frances, and their family, while also reportedly holding residency in the United Kingdom and the United States.
His brother, Issie Kirsh, founded Johannesburg radio station Radio 702 and media company Primedia.
Behind Kirsh on the rich lists are Rupert and Nicky Oppenheimer, whose fortune Bloomberg estimates at about $14.8 billion. All three fortunes remain far behind that of Pretoria-born billionaire Elon Musk, whose wealth Bloomberg estimates at more than $800 billion.
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