Home » Bob van Dijk, former CEO of Africa’s largest company, suffers $9-million loss in 57 days

Bob van Dijk, former CEO of Africa’s largest company, suffers $9-million loss in 57 days

by Yusuf Abdulfatai
Bob van Dijk

Bob van Dijk, the renowned South African-born Dutch business executive who steered Naspers to impressive financial milestones during his tenure as CEO until his exit in September 2023, has recently experienced a significant setback.

According to data tracked by Billionaires.Africa, the market value of van Dijk’s stake in the global conglomerate has plunged by more than $9 million in recent times, adding to the losses he recorded earlier this year.

Van Dijk, who held the helm at Naspers from 2014 until his departure, owns a 0.24-percent stake in the company, equivalent to 457,300 ordinary shares.

The conglomerate, with operations spanning multiple continents and segments including classifieds, food delivery, payments, fintech, Etail, Edtech, and e-commerce, is widely recognized as Africa’s most valuable company, boasting a market capitalization exceeding $30 billion.

Over the past 57 days, the value of Naspers shares has been on a downward spiral, plummeting by 11.15 percent from R3356.52 ($181.95) on Sept. 6 to R2982.14 ($161.73) on Nov. 2. This sharp decline has resulted in substantial losses for shareholders, including van Dijk.

Notably, van Dijk’s stake in the company has seen a significant drop in value, down by R171.20 million ($9.27 million) from R1.53 billion ($83.09 million) on Sept. 6 to R1.36 billion ($73.82 million) at the time of writing.

The drop in Naspers’ share value can be attributed to investors reducing their stakes in the multinational holding company. This has raised concerns among shareholders and market observers, particularly given Naspers’ stature as a global internet group with diverse interests in Africa, Asia, Europe, Latin America, and North America.

Despite this challenging market situation, van Dijk retains his status as one of the top investors on the Johannesburg Stock Exchange, underscoring his influence and reputation within the local financial landscape.

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