Andre Du Plessis becomes $11 million richer as Capitec shares soar

South African businessman Andre Du Plessis has recorded a significant surge in the market value of his stake in Capitec Bank as investors on the Johannesburg Stock Exchange renewed interest in the Stellenbosch-based financial services provider.

According to data tracked by Billionaires.Africa, Du Plessis, who ranks among the wealthiest investors on the Johannesburg Stock Exchange, has seen the market value of his stake in Capitec Bank surge by R213.79 million ($11.07 million) in the past 88 days owing to the recent uptick in the share price of the leading retail bank.

Capitec Bank, known for its extensive client base, has emerged as one of South Africa’s top lenders since its establishment two decades ago. The bank has earned a reputation as one of the world’s most respected banking brands, providing valuable transactional banking services and offering lending products such as term loans, credit facilities, and credit cards.

Du Plessis, a prominent South African businessman and co-founder of the bank in 2001 alongside South African billionaire Michiel Le Roux, as well as businessmen Jannie Mouton and Riaan Stassen, owns a beneficial 0.78-percent stake in the renowned financial services provider.

His stake in Capitec Bank, which amounts to a total of 901,106 shares, is presently valued at more than $80 million, positioning him as one of the most affluent investors on the Johannesburg Stock Exchange.

In the past 88 days, Capitec shares on the Johannesburg Stock Exchange have surged by 15.42 percent, rising from R1,538.70 ($79.65) on July 11 to R1,775.95 ($91.93) on October 7, thus pushing the group’s market capitalization above the $10-billion mark and resulting in substantial gains for retail bank’s shareholders.

As a result of the bank’s impressive 15.42-percent increase in share price, Du Plessis’ stake in Capitec Bank has grown by R213.79 million ($11.07 million), skyrocketing from R1.39 billion ($71.77 million) on July 11 to R1.60 billion ($82.84 million) as of the time of this report.

This substantial increase in Du Plessis’s stake further solidifies his status among the wealthiest investors on the Johannesburg Stock Exchange and positions him as one of the most affluent individuals in the country.