South African‑born Nathan Kirsh now Africa’s third‑richest

Cape Town – South African-born billionaire Nathan Kirsh has overtaken Johann Rupert as the wealthiest South African-born businessman after the $29.1 billion sale of his US-based Jetro Restaurant Depot business to Sysco, reports say.

Analysts estimate the deal could lift his fortune to around $20.3 billion, ahead of Rupert’s estimated $15 billion, BusinessTech reported.

Kirsh, born in Potchefstroom in 1932, built a global retail and distribution empire spanning South Africa and the United States. His Jetro Cash & Carry and Restaurant Depot business grew into a major US food-service supplier with 166 warehouse stores across 35 states and annual revenue of about $16 billion.

According to Business Insider Africa, the deal has also pushed Kirsh into Africa’s top wealth rankings, placing him as the continent’s third-richest individual after the sale of Jetro Restaurant Depot LLC to Sysco Corporation.

The publication reports that Kirsh’s net worth rose by about 50% to roughly R249 billion ($29 billion), marking the monetisation of his most valuable asset and the peak of a business career spanning more than seven decades across retail, food distribution, and property.

The report adds that Jetro’s expansion into more than 160 warehouse outlets made it the foundation of Kirsh’s wealth, while the sale to Sysco strengthens the US company’s distribution network.

Kirsh now ranks behind only Aliko Dangote and Rupert among Africa’s richest individuals, reinforcing South Africa’s continued dominance in continental wealth rankings.