South African billionaire Koos Bekker has experienced a substantial rebound in his net worth, recovering from a staggering $200-million slump earlier this year.
According to Forbes, a leading U.S. business magazine that tracks the fortunes of world’s ultra-high-net-worth individuals (UHWIs), Bekker’s net worth has increased by $100 million in the past 66 days, reaching $2.5 billion as of July 14, from $2.4 billion on May 9.
The recent increase comes on the heels of a decline that saw Bekker’s wealth figures drop from $2.6 billion to $2.4 billion between February 2 and May 9.
However, the latest surge in his net worth can be attributed to the recent boost in the share price of Naspers, the Cape Town-based multinational investment holding company led by Bekker himself.
Naspers, renowned for its diverse portfolio encompassing publishing, online retail, and venture capital investments in the consumer internet sector, has seen its share price soar by more than 12 percent between May 9 and July 14.
This impressive double-digit surge in its share price on the Johannesburg Stock Exchange comes despite a significant decline in earnings during its 2023 fiscal year that ended on March 31, 2023.
According to Naspers’ recently published annual report, the company’s profit after tax plummeted by more than 46 percent during the review period.
The decline can be attributed to the decrease in gains from the partial disposal of equity-accounted investments, including the sale of its stake in the Chinese multinational technology conglomerate Tencent, as well as the impact of dilution losses on equity-accounted investments.
With a net worth of $2.5 billion, Bekker ranks among the wealthiest billionaires on the African continent. Most of his fortune stems from his 0.85-percent stake in Naspers and a 0.72-percent stake in Prosus, the Amsterdam-based investment group.
