South African billionaire businessman Jannie Mouton, renowned for founding South African investment holding company PSG Group, has enjoyed a significant boost in his fortune in the past 22 days from his stake in Capitec Bank, a leading Stellenbosch-based financial services provider.
According to data tracked by Billionaires.Africa, the market value of Mouton’s stake in Capitec Bank has increased by R1.74 billion ($95.28 million) in the past 22 days owing to the recent uptick in the market value of the leading retail bank on the Johannesburg Stock Exchange.
It’s worth noting that Mouton faced a setback earlier, with a loss of $43.85 million, as the market value of his Capitec Bank stake dipped from R11.08 billion ($578.74 million) to R10.24 billion ($534.88 million) between Oct. 10 and 25. However, the tables have turned dramatically with the recent resurgence in his fortune, offsetting the previous loss.
Capitec Bank’s recent milestones: 16.99-percent surge propels market cap beyond $10 billion
Capitec Bank is a leading financial institution in South Africa, boasting one of the largest customer bases in the country. With 856 branches and 7,436 ATMs, it has established itself as a trusted retail banking brand over the past two decades.
Mouton is renowned for co-founding Capitec Bank with Michiel Le Roux, and Riaan Stassen. He presently owns a 5.11-percent stake in Capitec Bank, equivalent to 6,034,518 shares, through his Jf Mouton Familietrust.
Since Oct. 25, Capitec Bank shares on the Johannesburg Stock Exchange have surged by 16.99 percent, climbing from R1,696.90 ($92.98) on Oct. 25 to R1,985.25 ($108.76) at the time of writing, thus pushing the market capitalization of the conglomerate above the $10-billion mark.
Mouton’s fortune soars as stake in Capitec hits $650 million amid share price rally
As a result of the recent bump in the bank’s share price, the market value of the stake held by Jannie Mouton has increased by R1.74 billion ($95.28 million), rising from R10.24 billion ($560.72 million) on Oct. 25 to R11.98 billion ($656.00 million) at the time of writing.
This substantial increase in Mouton’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.