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South African billionaire Koos Bekker, lauded for his tech vision and strategic acumen, has seen the value of his stake in Naspers, Africa’s largest listed company, slump significantly amidst a recent wave of selling pressure on select South African stocks.
The past 41 days have witnessed a surge in selling interest targeting specific South African companies, impacting the fortunes of prominent businessmen and investors across the nation — Naspers is among those caught in the crossfire of these selling pressures.
Bekker’s stake in Naspers has borne the brunt of this market sentiment. Over the past 41 days, the market value of his stake in Naspers has declined by R1.25 billion ($66.95 million) as the company’s shares slumped by double digits on the Johannesburg Stock Exchange.
Naspers’ shares take a hit, pushing market cap below $30 billion
With the latest move on the Johannesburg Stock Exchange, Naspers, owner of diverse assets in publishing, online retail, and consumer internet venture capital, has shed over 20 percent of its market value since mid-November, tumbling below the $30 billion mark.
Data compiled by Billionaires.Africa shows Naspers’ share price plummeted 21.2 percent from R3,480.14 ($187.01) on Nov. 15 to R2,742.35 ($147.36) at press time. This sharp decline, fueled by a double-digit percentage drop in the stock, has inflicted billions in losses on investors.
Bekker’s stake in Naspers slumps below $250 million
As a result of the recent slump in Naspers shares, Bekker, one of South Africa’s richest men and a leading figure on the Johannesburg Stock Exchange, has seen his stake in the group dwindle in recent weeks.
At 0.85 percent, Bekker holds a smaller piece of the tech investor. His shares, valued at R5.87 billion ($315.82 million) on Nov. 15, have declined to R4.63 billion ($248.86 million) at the time of writing, a R1.25 billion ($66.95 million) dip over the past 41 days.
Despite this recent setback, Bekker remains a top figure among South African businessmen. His entrepreneurial journey began in 1985 with the founding of M-Net, which later evolved into MultiChoice. In 1997, he took the helm at Naspers, where his strategic vision drove the company’s rise. He also played a key role in shaping the Amsterdam-based group Prosus N.V.
