South African billionaire businessman Koos Bekker, chairman of multinational holding company Naspers and Amsterdam-based investment group Prosus, has suffered a decline in his net worth due to the recent slump in the market value of his stakes in both companies.
After recording a significant bump in his net worth in the first 32 days of 2023, his wealth figures have fallen by $200 million in the past 96 days from $2.6 billion on Feb. 2 to $2.4 billion as of today.
This recent decline in his net worth has been linked to the slump in his stakes in Naspers (0.96 percent) and Prosus (0.89 percent).
Despite the decline in his net worth, the 70-year-old tycoon remains one of the wealthiest businessmen in South Africa, thanks to his billion-dollar fortune, which is made up of stakes in both Naspers and Prosus.
Bekker has been an active businessman since 1985 when he founded pay-television company M-Net, before serving as CEO of Naspers in 1997.
Recently, he sold $190.4 million worth of Prosus shares via a family trust to finance the development of hotels in various countries.
This sale, executed in three separate transactions valued at about €173.4 million ($190.4 million), marks the first time in over eight years that the trust has sold Naspers or Prosus shares. In 2015, Bekker himself sold R20 billion ($147.5 million) in Naspers stock options.
The decline in Bekker’s net worth may be a cause for concern for some investors, given his positions as chairman of both Naspers and Prosus.
However, experts suggest that his recent sale of Prosus shares may indicate that he has confidence in the future growth of the company, and is simply freeing up funds to invest in other ventures.
Bekker’s shareholding in Naspers is presently worth R13.53 billion ($710 million), while his stake in Prosus is presently worth $1.3 billion.
The total market value of his stake in Prosus and Naspers is presently put at $2.01 billion, in line with the $2 billion estimate by Forbes.
