South African billionaire businessman Jannie Mouton, renowned for founding South African investment holding company PSG Group, has witnessed a substantial increase in his wealth in the past 15 days attributed to the latest surge in his stake in Capitec Bank.
According to data tracked by Billionaires.Africa, the market value of Mouton’s stake in Capitec Bank has surged by R824.56 million ($43.31 million) in the past 15 days, driven by the upswing in the shares of the leading retail bank listed on the Johannesburg Stock Exchange (JSE).
This recent surge follows the $31-million gain that he recorded between Dec. 18 and Dec 24 of the preceding year — when the market value of his stake in Capitec bank soared from R11.39 billion ($616.83 million) to R11.98 billion ($648.22 million).
Capitec Bank shares surge by more than seven percent, propelling market cap above $12 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 the leading retail bank, equivalent to 6,034,518 shares, through his Jf Mouton Familietrust.
In recent times, Capitec Bank shares on the JSE have risen by 7.03 percent, climbing from R1,944.91 ($102.156) on Jan. 4 to R2,081.55 ($109.334) at the time of writing, thus pushing the market capitalization of the leading retail banking group above the $12-billion mark.
Mouton’s Capitec stake nears $660 million amid share-price rally
As a result of the recent uptick in the bank’s shares, Mouton’s stake has experienced a surge of R824.56 million ($43.31 million) in his stake in Capitec Bank which has risen from R11.74 billion ($616.46 million) on Jan. 4 to R12.56 billion ($659.77 million) at the time of writing.
This noteworthy surge in Mouton’s stake solidifies his status among the most affluent investors on the JSE — it also strengthens his position among the wealthiest individuals in South Africa.