This shift follows the sale of his United States-based business, Jetro Restaurant Depot, to food-service giant Sysco in a deal valued at $29.1 billion. Forbes now estimates Kirsh's net worth at $17.8 billion, placing him ahead of Rupert's $15.9 billion.
Background
Kirsh was born in Potchefstroom in 1932. He began his business career working in his family's malt factory. In 1970, he acquired Moshal Gevisser, a South African wholesale food distributor. During apartheid, he supplied independent black shopkeepers who were restricted from directly accessing white-owned business networks.
He built a massive retail empire through his holding company, Kimet, eventually acquiring major South African brands like Checkers, Dion, and Russell’s. At its peak, his operations controlled over 12% of South Africa’s consumer goods market. However, in the 1980s, political instability, economic pressures, and a corporate partnership with Sanlam caused Kirsh to lose control of his empire.
Rebuilding in the United States
Following the loss of his South African businesses, Kirsh focused his attention on the United States. He had already launched Jetro Cash & Carry in New York in 1976. The business targeted small independent retailers using a low-cost warehouse model that eliminated delivery expenses and credit risk. Customers selected their own stock, paid upfront, and transported the goods themselves.
The business later expanded significantly by acquiring Restaurant Depot. Today, the combined network operates 166 warehouse stores across 35 US states. In 2025, the company generated $16 billion in revenue.
Having lost control of his South African empire decades earlier, Kirsh opted to keep Jetro strictly private and under tight family control. In March 2026, Sysco announced it would acquire the company for $29.1 billion, including debt.
Shareholders are set to receive $21.6 billion in cash alongside 91.5 million Sysco shares. Based on his roughly 70% stake in Jetro, analysts estimate the transaction leaves Kirsh with approximately $20.3 billion in cash and shares, solidifying his position at the top of the South African rich list.