South African billionaire Koos Bekker, renowned for his entrepreneurial prowess and strategic leadership, has experienced a significant decline in the market value of his stake in Naspers, Africa’s largest publicly listed company.
In recent weeks, a new wave of selling interest has swirled around the shares of select South African companies, impacting the fortunes of businessmen and investors across the country.
Bekker, who is one of the wealthiest businessmen in South Africa and the entire African continent, has seen the market value of his 0.85-percent stake in Naspers decline by R509.96 million ($26.4 million) over the past 19 days.Â
The sharp decline can be attributed to the single-digit percent drop in the company’s shares, which has resulted in billions of dollars in losses for shareholders.
According to data tracked by Billionaires.Africa, Naspers’ share price has plunged by 8.75 percent since May 17, settling at R3,152.72 ($163.4) on June 5. This has pushed the company’s market capitalization below the $75 billion mark, leaving investors concerned.
As a result of this recent decline, Koos Bekker’s stake in Naspers has now shrunk from R5.83 billion ($302.22 million) on May 17 to R5.32 billion ($275.8 million) at present, with a decrease of R509.96 million ($26.4 million).
Despite this recent setback, the market value of Bekker’s stake in Naspers has seen a net increase of R554.27 million ($28.73 million), solidifying his position as a leading investor on the Johannesburg Stock Exchange.
Bekker’s entrepreneurial journey began in 1985 when he founded M-Net, a pay-television company that later transformed into MultiChoice.
In 1997, he assumed the role of CEO at Naspers, where his strategic leadership played a pivotal role in the company’s success. He also made significant contributions to Amsterdam-based investment group Prosus N.V.
Earlier this year, Bekker demonstrated his business acumen once again by selling $190.4 million worth of Prosus shares through a family trust.
This marked the first time in over eight years that the trust sold Naspers or Prosus shares, showcasing Bekker’s long-term commitment to his investment portfolio.
The proceeds from the transactions, totaling approximately €173.4 million ($190.4 million), will be utilized to develop hotels in various countries.
