South African billionaire Michiel Le Roux has experienced a remarkable increase in his fortune over the past month, thanks to the sustained surge in the share price of Capitec Bank in recent times. The market value of his stake in the leading retail bank is now approaching $1.4 billion.
According to stock market data, the market value of Le Roux’s 11.41-percent stake in Capitec Bank has increased by R3.88 billion ($208.17 million) —o wing to the recent bump in the bank’s shares on the Johannesburg Stock Exchange (JSE).
This latest surge in Le Roux’s stake in Capitec Bank comes on the heels of the $100-million loss he suffered between Oct. 21 and Nov. 14 — when his net worth plunged from $1.2 billion to $1.1 billion.
Capitec Bank shares skyrocket 17.74 percent, market cap surpasses $12 billion
Capitec Bank, co-founded by Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its standing over the past two decades, amassing a substantial customer base. With a network of more than 850 branches and 7,400 ATMs across South Africa, the bank has earned a reputation as one of the world’s leading retail banking brands.
Recent market performance highlights a 17.72-percent surge in Capitec Bank shares — from R1,660.21 ($89.058) on Nov. 1 to R1954.43 ($104.841). This has propelled the bank’s market cap above $12 billion — returning substantial gains to its shareholders
Michiel Le Roux’s Capitec stake surges above $1.3 billion amid market surge
Le Roux presently owns an 11.39-percent stake in Capitec Bank. This stake — which translates to a total of 13,190,043 ordinary shares in the group — makes him one of the richest men on the continent.
According to Data tracked by Billionaires.Africa, the recent share price rally has boosted the market value of Le Roux’s stake by R3.88 billion ($208.17 million) over the past 32 days—from R21.89 billion ($1.17 billion) to R25.78 billion ($1.38 billion) at the time of drafting this report.
This impressive surge in his fortune reaffirms his position among South Africa’s billionaire — firmly establishing his presence within the ranks of the continent’s financial elite.