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South African-born real estate mogul Barry Stuhler has suffered significant losses amounting to $20 million from his stake in Lighthouse Properties, spurred by the recent sell-off in the Malta-based property company and the impact of rand devaluation.
Data gathered by Billionaires.Africa revealed that Stuhler’s stake in Lighthouse has declined by R236.6 million ($19.79 million) since the start of the year as investors on the local bourse continue to reduce their stakes in the Mauritius-based company.
Lighthouse Properties, with a diversified property portfolio that includes retail assets across France, Portugal, Slovenia, Spain, and the United Kingdom, has recently faced a significant downturn in its share price as investors continue to trim down their stakes in the company.
Stuhler, the managing director of Capital Property Fund, who ranks as one of the high-value investors on the Johannesburg Stock Exchange, owns a 9.72-percent stake in Lighthouse Properties. His stake amounts to 172,699,222 shares.
Since the start of the year, Lighthouse Properties shares on the Johannesburg Stock Exchange have declined by 19.91 percent, from R6.88 ($0.3619) to R5.51 ($0.2898) on Sept. 16, owing to profit-taking activities as market participants sold off their stakes in the company to capture profits alongside the lasting impact of the devaluation of the South African rand.
As a result of this double-digit slump in the share price of Lighthouse Properties, the market value of Stuhler’s stake in the company has now declined by R236.6 million ($19.79 million) from R1.19 billion ($69.88 million) to R951.57 million ($50.09 million) at the time of writing.
Despite this year-to-date dip, Stuhler maintains an unwavering influence as a pivotal figure among South Africa’s renowned entrepreneurs. His business acumen and visionary leadership will continue to shape the trajectory of Lighthouse Properties and solidify its position as a leading provider of direct properties.
