Home » South African billionaire Koos Bekker gains $200 million amid tech stock frenzy

South African billionaire Koos Bekker gains $200 million amid tech stock frenzy

by Omokolade Ajayi
Koos Bekker

South African billionaire businessman Koos Bekker has experienced a surge in his net worth this year due to the frenzied buying of tech stocks on the Johannesburg Stock Exchange (JSE) and European markets, which has resulted in a substantial boost in the market value of his equity holdings.

Bekker, a visionary entrepreneur and a driving force behind the success of companies such as Naspers, a multinational holding company based in Cape Town, and Prosus N.V., an Amsterdam-based investment group, is one of Africa’s richest individuals.

According to data tracked by Billionaires.Africa, the South African billionaire has seen his net worth increase by $200 million since the start of the year, from $2.4 billion on Jan. 1 to $2.6 billion at the time of drafting this report.

The significant increase in Bekker’s net worth of $200 million can be attributed to the exceptional performance of Naspers‘ and Prosus‘ shares on both the JSE and the Euronext Stock Exchange.

This is primarily due to his substantial holdings in Naspers, where he holds a 0.96-percent stake, and in the Amsterdam-based investment group, Prosus NV.

Since the start of the year, Naspers and Prosus have seen a significant boost in their shares, with an increase of more than 10 percent. This growth can be attributed in part to the recent strategic move to streamline operations by reducing the corporate workforce by 30 percent.

The bold decision was made in an effort to lower operating expenses, enhance earnings, and increase investment opportunities in top tech companies.

As stated by Bob van Dijk, CEO of Prosus and Naspers, the job cuts, which will be implemented over the course of 12 months across 15 locations, including corporate centers in Hong Kong, Amsterdam, and South Africa, are expected to result in a profitable outcome by 2025.

Prosus, is dedicated to streamlining expenses across its extensive portfolio of more than 80 invested companies. This process will vary in terms of timeline and scope, as outlined by Van Dijk.

To date, the company has successfully shut down several offices and implemented cost reductions in others.

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