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Jens Montanana, the South African tycoon and visionary founder of multinational technology group Datatec, has experienced a significant decline in the market value of his stake in the Johannesburg-based company.
According to data tracked by Billionaires.Africa, Montanana’s stake in Datatec has fallen by R73.53 million ($3.9 million) in the past eight days, driven by a recent pullback in the company’s share price, marking a downturn from earlier gains.
The tech magnate had recently reported impressive gains, raking in $2 million in just 24 days between August 1 and August 25.
Datatec is a South African-based company that provides ICT solutions and services, including software and cloud computing solutions such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS).
Montanana, renowned for his leadership and contributions to the tech industry, founded Datatec in 1986 and currently owns a 14.06-percent ownership stake, equivalent to 31,832,429 ordinary shares in the South African tech company.
Under his leadership, Datatec has expanded to more than 50 countries in North America, Latin America, Europe, Africa, the Middle East, and the Asia-Pacific.
Since Sept. 6, the company’s shares have declined by more than six percent, dropping from R37.71 ($1.995) to R35.40 ($1.874) at the time of writing.
As a result of the share price decline, Montanana’s holdings in Datatec have decreased significantly, shedding R73.53 million ($3.9 million) in eight days and bringing the market value down from R1.2 billion ($63.48 million) to R1.13 billion ($59.6 million) at the time of writing.
Despite this setback, Datatec remains a formidable force in the global tech sector.
Montanana firmly maintains his position as one of the wealthiest investors on the Johannesburg Stock Exchange, largely attributable to his substantial stake in the company.
