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South African banking executive, Gerrie Fourie, has experienced a substantial increase in the market value of his stake in Capitec Bank, attributed to a recent surge in the group’s shares on the Johannesburg Stock Exchange (JSE).
Data compiled by Billionaires.Africa reveals that Gerrie Fourie’s stake in Capitec Bank has surged by nearly $24 million over the past 72 days, further solidifying his stature among South Africa’s top executives.
Capitec Bank, established twenty years ago by South African billionaire Michiel Le Roux, along with distinguished businessmen Jannie Mouton and Riaan Stassen, has risen to prominence as a foremost retail bank, offering an array of services, including transactional banking and a range of loan products such as term loans, credit facilities, and credit cards.
Gerrie Fourie, who is the retail bank’s CEO, possesses a notable 0.89-percent stake in the bank, or 1,027,673 ordinary shares. The stake not only positions him as one of the most affluent bankers in the nation but also places him in the upper echelons of the country’s wealthiest investors.
In recent times, the share price of Capitec Bank on the Johannesburg Stock Exchange has increased significantly, surging by an impressive 32.37 percent, from R1350.00 ($71.67) on May 31 to R1787.03 ($94.87) at the time of this report.
This surge in the group’s share price has propelled the market value of Gerrie Fourie’s stake in Capitec Bank up by R449.12 million ($23.97 million) within the past 72 days, from R1.39 billion ($74.03 million) on May 31 to R1.84 billion ($98 million) on Aug. 11.
This surge further cement Gerrie Fourie’s position as one of the most affluent executives in South Africa and also as one of the richest investors in the Johannesburg Stock Exchange.
