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 41 days. This reflects a slump in the market value of his diverse tech-related holdings.
According to data tracked by the U.S. business magazine Forbes, Bekker, a top figure among South Africa’s richest individuals and one of Africa’s top billionaires, has seen his net worth slump by $100 million in recent times, from $2.4 billion on Aug. 14 to $2.3 billion at the time of drafting this report.
The recent $100-million slump in Bekker’s net worth has overturned his previous year-to-date gains of $100 million to a year-to-date loss of $100 million, 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 41 days, the share price of Naspers on the Johannesburg Stock Exchange has fallen by more than 6.28 percent, dropping from R3,325.82 ($177.33) on Aug. 14 to R3,117.02 ($166.20), thereby pushing the value of Bekker’s 1,687,887 stake below the $285-million mark.
Similarly, shares of Prosus on the Euronext Exchange in Amsterdam have experienced a decline of more than 4.4 percent recently, slipping from €29.98 ($31.98) on Aug. 14 to €28.66 ($30.57) at the time of this report. This decline has caused the market value of Koss 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 $2.3 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.
