Home » South African tycoon Michiel Le Roux gains $70.1 million from Capitec Bank

South African tycoon Michiel Le Roux gains $70.1 million from Capitec Bank

Le Roux’s Capitec stake soars above $1.4 billion

by Feyisayo Ajayi
Michiel Le Roux

South African billionaire Michiel Le Roux has experienced a noteworthy increase in his fortune over the past four days, thanks to the sustained surge in the share price of Capitec Bank — with the recent surge, his stake in the leading retail bank is now worth more than $1.4 billion.

Based on stock market data, the market value of Le Roux’s 11.41-percent stake in Capitec Bank has increased by R1.29 billion ($70.15 million) in just four days — driven by the recent boost in the bank’s shares on the Johannesburg Stock Exchange (JSE).

The recent increase in his stake in Capitec Bank adds to the $208.17-million gain he recorded between Nov. 14 and Dec. 4 when his stake in the leading lender skyrocketed from R21.89 billion ($1.17 billion) to R25.78 billion ($1.38 billion)

Capitec Bank shares surge 5.18 percent, market cap soar above $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.

In recent times, Capitec Bank shares on the JSE have increased by 5.18 percent, from R1,888.86 ($102.627) on Dec. 18 to R1.986.74 ($107.949). This upsurge has propelled the bank’s market cap above $12 billion — returning substantial gains to its shareholders.

Le Roux’s Capitec stake soars above $1.4 billion 

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 surge in the Capitec Bank shares has caused the market value of Le Roux’s stake to increase by R1.29 billion ($70.1 million) over the past four days — from R24.91 billion ($1.35 billion) to R26.20 billion ($1.42 billion). 

This notable increase in his wealth solidifies his standing among South Africa’s billionaires, firmly establishing his presence within the ranks of the continent’s financial elite.

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