Jens Montanana, the South African tech tycoon and visionary founder of multinational technology group Datatec, has experienced a significant decrease 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 slumped by R120.96 million ($6.46 million) over the past 20 days, driven by a sustained decline in the company’s share price, marking yet another downturn in his investment portfolio.
This recent decline follows a loss of $3.9 million he recorded between Sept. 6 and 14, when the market value of his stake in Datatec dropped from R1.2 billion ($63.48 million) to R1.13 billion ($59.6 million).
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 presently owns a 14.06-percent ownership stake, equivalent to 31,832,429 ordinary shares in the South African tech company.Â
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 Oct. 12, Datatec shares have declined by more than nine percent, dropping from R38.80 ($2.072) to R35 ($1.869) at the time of writing, resulting in losses for shareholders, including Montanana, renowned as one of South Africa’s leading tech tycoons.
As a result of the sustained slump in Datatec shares, Montanana’s stake in Datatec has experienced a substantial decrease of R120.96 million ($6.46 million) over the past 20 days, sliding from R1.24 billion ($65.96 million) on October 12 to R1.11 billion ($59.50 million) at the time of writing.
Nevertheless, despite this setback, Datatec continues to assert itself as a robust player in the global tech sector, and Montanana maintains his status as one of the wealthiest investors on the Johannesburg Stock Exchange, thanks to his substantial stake in the company.
