Alan Pullinger, CEO of Africa’s most valuable bank, gains $1.69 million in 17 days

Alan Pullinger, the CEO of FirstRand, Africa’s most valuable financial services group, has recorded another gain of nearly $1.7 million from his stake in the leading financial services group.

According to the data gathered by Billionaires.Africa, the market value of Pullinger’s stake in the leading financial services provider has increased by R31.95 million ($1.69 million) in the past 17 days as the investors increased their stake on the local bourse.

FirstRand, known for its integrated financial services portfolio comprising FNB, RMB, WesBank, and Aldermore, holds active operations in South Africa, the UK, and regional markets in Sub-Saharan Africa. The financial institution has firmly established itself as a major player in the industry.

Pullinger, a multimillionaire business executive and CEO of the financial services group, owns a minority stake of approximately 0.1 percent in the leading financial services group, or 5,634,679 ordinary shares in the lender.

Since July 26, FirstRand’s shares on the Johannesburg Stock Exchange have increased by 8.48 percent, climbing from R66.87 ($3.528) to R72.54 ($3.828), thus returning gains to shareholders and pushing the group’s market capitalization further above $400 billion.

As a result of the latest single-digit percent increase in FirstRand shares, the market value of Alan Pullinger’s stake has increased by R31.95 million ($1.69 million) from R376.79 million ($19.88 million) on July 26 to R408.74 million ($21.57 million) at the time of writing.

The $1.69-million surge in his stake further cements his position as one of South Africa’s most affluent executives and one of the richest investors on the Johannesburg Stock Exchange.