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Sim Tshabalala, the CEO and executive director of Standard Bank, has seen a remarkable increase in his net worth, attributed to a recent surge in the market value of his stake in Standard Bank.
According to data tracked by Billionaires.Africa, the market value of Tshabalala’s stake in Standard Bank has surged by R22.5 million ($1.2 million) in the past 12 weeks, thanks to sustained buying interest in the group’s shares on the Johannesburg Stock Exchange.
Standard Bank Group, Africa’s largest banking group by assets, presently operates in 20 countries in Sub-Saharan Africa. The bank’s position and operation under the leadership of Tshabalala enable it to connect the African continent to other emerging and developed markets.
Tshabalala, who assumed the role of CEO in September 2017, holds a minority stake of 0.031 percent, which translates to a total of 511,200 shares in the leading financial services group.
Since May 8, Standard Bank shares have increased from R149.10 ($7.936) on May 8 to R193.10 ($10.277) at the time of writing, accruing a total gain of 29.51 percent to its shareholders, and propelling its market capitalization above $17 billion.
This substantial increase in the lender’s shares has caused the market value of Tshabalala’s stake in Standard Bank to increase by R22.5 million ($1.2 million) since May 8, from R76.2 million ($4.05 million) to R98.7 million ($5.3 million) at the time of drafting this report.
The remarkable $1.2-million surge in Tshabalala’s stake value further solidifies his standing as one of South Africa’s most prosperous executives. Tshabalala’s stake underscores his acumen as a leader and the bank’s robust performance under his leadership.
