South African tycoon Jens Montanana loses $5 million from Datatec stake

Jens Montanana, the South African tech tycoon and visionary founder of multinational technology group Datatec, has seen the market value of his stake in Datatec decline in recent times.

According to data tracked by Billionaires.Africa, Montanana’s stake in Datatec has decreased by R96.45 million ($5.11 million) in the past 17 days, due to the sustained slump in the shares of the Johannesburg-based company.

Datatec shares drop by 7.88%, market cap sinks below $450 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).

Under Jens Montanana’s leadership, Datatec has expanded to more than 50 countries in North America, Latin America, Europe, Africa, the Middle East, and the Asia-Pacific.

In recent times, Datatec shares have declined by 7.88 percent, falling from R38.46 ($2.038) to R35.43 ($1.883)  at the time of writing, thus pushing the group market capitalization below $450 million and resulting in losses for shareholders, including Montanana, renowned as one of South Africa’s leading tech tycoons.

Jens Montanana’s stake declines below $60 million amid slump in Datatec shares

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.

As a result of the double-digit decline in Datatec shares, Montanana’s stake in Datatec has witnessed a significant decrease of R96.45 million ($5.11 million) in the past 17 days, slumping from R1.22 billion ($64.87 million) on November 6 to R1.13 billion ($59.76 million) at the time of writing.