Latest news with #NatieKirsh
IOL News
30-04-2025
- Business
- IOL News
How two of SA's wealthiest men multiplied their billions despite Donald Trump's tariff shake-up
Despite global market turmoil, two of South Africa's wealthiest men, Johan Rupert and Natie Kirsh, have significantly increased their fortunes this year Image: Graphic by Se-Anne Rall/IOL Despite a massive rout in markets across the world, two of South Africa's three richest men have seen their fortunes gain in multiples of billions of rands since the start of the year. Both Johan Rupert and his family as well as wholesale mogul Natie Kirsh have had massive gains this year, with valuations in the billions of dollars. These two wealthy men – 142 and 296 respectively on the Bloomberg Billionaire Index – have seen their investments outperform that of the S&P500 and Nasdaq, both key measures of investment sentiment. How SA's richest men have seen their fortune grow this year Image: Bloomberg Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Except for China. His angst against the Communist country was such that it faced taxes of as much as 145% just because of 'Liberation Day'. In total, Americans were set to pay 245% extra to buy Chinese goods. That changed in recent days, with Trump saying that he was willing to negotiate with China. However, the damage has been done, and billions of dollars have been lost. Not so for two South Africans. Rupert, chairman of the Swiss-based luxury goods company Richemont, is worth $15.5 billion – that's R287.5 billion. His value, and that of his family, has gained $1.84bn, or R34 billion since the start of the year. Now at 142 on the Bloomberg Billionaire Index, he has moved up two slots since the middle of April, when IOL last reported on the figures. Natie Kirsh, who is the last South African on Bloomberg's list, has reversed the declines IOL reported on in the middle of April. At 296 on the list, he has seen his value climb 6.8% this year to $9.97bn – almost R185 billion. The 93-year-old Kirsh earned most of his money from New York state cash and carry operation Jetro Holdings, owner of Restaurant Depot and Jetro Cash & Carry. To put all of that in perspective, last year, South Africa's total gross domestic product was R7.5 trillion. IOL
IOL News
30-04-2025
- Business
- IOL News
How two of SA's wealthiest men multiplied their billions despite Donald Trump's tariff shake-up
Despite global market turmoil, two of South Africa's wealthiest men, Johan Rupert and Natie Kirsh, have significantly increased their fortunes this year Image: Graphic by Se-Anne Rall/IOL Despite a massive rout in markets across the world, two of South Africa's three richest men have seen their fortunes gain in multiples of billions of rands since the start of the year. Both Johan Rupert and his family as well as wholesale mogul Natie Kirsh have had massive gains this year, with valuations in the billions of dollars. These two wealthy men – 142 and 296 respectively on the Bloomberg Billionaire Index – have seen their investments outperform that of the S&P500 and Nasdaq, both key measures of investment sentiment. How SA's richest men have seen their fortune grow this year Image: Bloomberg Except for China. His angst against the Communist country was such that it faced taxes of as much as 145% just because of 'Liberation Day'. In total, Americans were set to pay 245% extra to buy Chinese goods. That changed in recent days, with Trump saying that he was willing to negotiate with China. However, the damage has been done, and billions of dollars have been lost. Not so for two South Africans. Rupert, chairman of the Swiss-based luxury goods company Richemont, is worth $15.5 billion – that's R287.5 billion. His value, and that of his family, has gained $1.84bn, or R34 billion since the start of the year. Now at 142 on the Bloomberg Billionaire Index, he has moved up two slots since the middle of April, when IOL last reported on the figures. Natie Kirsh, who is the last South African on Bloomberg's list, has reversed the declines IOL reported on in the middle of April. At 296 on the list, he has seen his value climb 6.8% this year to $9.97bn – almost R185 billion. The 93-year-old Kirsh earned most of his money from New York state cash and carry operation Jetro Holdings, owner of Restaurant Depot and Jetro Cash & Carry. To put all of that in perspective, last year, South Africa's total gross domestic product was R7.5 trillion. IOL
Bloomberg
08-04-2025
- Business
- Bloomberg
Billionaires Seek to Take Companies Private Amid Market Mayhem
For some of the world's wealthiest people, the bedlam in global markets has added greater urgency to take major portfolio companies private. As stock markets sank everywhere Monday, South Africa-born billionaire Natie Kirsh's investment company announced it had teamed up with US-listed Public Storage on a take-private deal for Abacus Storage King. Kirsh is the biggest shareholder in the Australian self-storage group, which the offer values at about A$1.9 billion ($1.1 billion). The 93-year-old businessman had a fortune estimated at $9.2 billion as of Monday, the Bloomberg Billionaires Index shows.
