Solidifying his position once more as one of South Africa’s most affluent executives, Paul Hanratty, the CEO of Sanlam, Africa’s largest insurer, has recorded significant gains in his equity stake in the company in the last 52 days.
As one of South Africa’s most affluent executives, Hanratty’s stake in Sanlam has surged by more than $3 million in just 52 days, setting him apart from other business leaders struggling to achieve impressive gains in their equity interests.
Sanlam, a leading insurer in South Africa, is partly owned by Ubuntu-Botho Investments, an investment holding company owned by Patrice Motsepe.
Hanratty, a leading executive with a minority 0.23-percent stake in Sanlam, has seen his equity interest grow from R254.07 million ($14.16 million) on May 30 to R313.33 million ($17.47 million) at the time of writing.
This surge in the market value of his stake has positioned him among South Africa’s top executives who have reaped substantial gains from their company stakes. This can be attributed to the remarkable performance of Sanlam’s shares in the last 52 days.
The company’s exceptional 2022 financial results and sustained interest from investors have driven its shares to rise by 23.32 percent on the Johannesburg Stock Exchange.
Sanlam’s shares increased from R51.84 ($2.90) on May 30 and closed at R63.93 ($3.58) on Fri., July 21, resulting in impressive shareholder gains. The recent surge in Sanlam’s shares drove the group’s market capitalization above the $7.5 billion mark.
Hanratty assumed the role of Sanlam’s group CEO on July 1, 2020, after serving as a board of directors member since 2017. During his tenure, Hanratty has been an executive director and chair of the Audit Committee, offering his expertise as the committee’s financial expert.
With the impressive surge in the market value of his stake in Sanlam and extensive business sector experience, Hanratty solidifies his position among South Africa’s executives who have enjoyed significant returns from their stakes in the companies they lead.