South African billionaire Koos Bekker, known for his expansive tech industry investments, has experienced a substantial $100-million decrease in his net worth over the past 31 days. This decline reflects a notable drop in the market value of his diverse tech-related holdings.
According to reports from Forbes, Bekker, a leading figure among South Africa’s wealthiest individuals and one of Africa’s top billionaires, has witnessed a decline in his net worth from $2.5 billion on July 14 to $2.4 billion as of the date of this report.
The $100 million decrease marks a reversal in his wealth figures, which increased from $2.4 billion on May 9 to $2.5 billion on July 14, propelled by the performance of his expansive investment portfolio.
The recent $100-million contraction in Bekker’s net worth has nullified his year-to-date gains, an outcome attributed to the recent downturn in the market value of his 0.85-percent stake in Africa’s largest publicly traded company, Naspers, as well as the 0.72-percent stake he holds in Prosus N.V., a global internet entity under the South African conglomerate Naspers.
Over the past month, the share price of Naspers on the Johannesburg Stock Exchange has fallen by more than 2.8 percent, dropping from R3,419.63 ($179.41) on July 14 to R3,325.82 ($174.41), thereby pushing the value of Bekker’s stake below the $300-million mark.
Similarly, shares of Prosus on the Euronext Exchange in Amsterdam have experienced a decline of more than 4.7 percent in the preceding 31 days, slipping from €68.38 ($74.68) on July 14 to €65.2 ($71.21) at the time of this report. This decline has caused the market value of Bekker’s stake in Prosus to fall below $600 million.
Despite these setbacks, Bekker remains one of the most affluent billionaires in Africa, boasting a net worth of $2.4 billion. His recent financial challenges underline the inherent volatility of the tech investment landscape, serving as a reminder of the fluctuating nature of wealth in a rapidly evolving industry.
