Home » South African tycoon Neal Froneman loses $2.1 million in 19 days

South African tycoon Neal Froneman loses $2.1 million in 19 days

by Feyisayo Ajayi
Neal Froneman

South African businessman Neal Froneman, a leading figure in the global precious metal mining industry, has experienced a significant decline in the market value of his stake in Sibanye-Stillwater, a multinational precious metal mining company.

According to Data tracked by Billionaires.Africa, Froneman, who serves as the CEO and executive director of Sibanye-Stillwater, has seen the market value of his stake in Sibanye-Stillwater decline by R40.82 million ($2.11 million) in the past 19 days due to the recent slump in the company’s shares on the Johannesburg Stock Exchange.

Sibanye-Stillwater is a multinational precious metal mining company, with South African holdings. The company has gold and base metals activities, as well as projects in South Africa and the Americas.

The mining organization has grown into the world’s largest primary producer of platinum. It presently ranks as the second-largest primary producer of palladium and its third-largest producer of gold under the leadership of Froneman, who presently owns a 0.3-percent stake, or 8,382,849 ordinary shares, in the precious metal mining group.

Froneman, in 2022, received a total compensation package of R198.03 million ($10.36 million) for his role at the helm of the precious metals mining company. This figure represents a notable decrease of 32.1 percent compared to his 2021 compensation of R291.58 million ($15.26 million).

Over the past 19 days, the share price of Sibanye-Stillwater has declined by 17.29 percent, falling from R32.15 ($1.66) on Sep. 20 to R27.28 ($1.41) at the time of writing, consequently pushing the group’s market capitalization below $4.0 billion.

The double-digit slump in the shares of Sibanye-Stillwater has significantly impacted the market value of Neal Froneman’s stake, which has declined by R40.82 million ($2.11 million) in recent times, falling from R269.51 million ($13.92 million) on Sep. 20 to R228.68 million ($11.81 million) at the time of this report.

Despite this substantial financial setback of $2.11 million, Froneman continues to uphold a distinguished position as one of the top figures in South Africa’s mining industry, as his commitment and leadership continues to shape the sector.

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