South African-born real estate mogul Barry Stuhler has recorded gains amounting to millions of dollars from his stake in Lighthouse Properties. The Malta-based property firm witnessed a remarkable double-digit surge in its shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Stuhler, who is one of the richest investors on the JSE, has seen his stake in the Malta-based property company increase by R115.71 million ($6.12 million) cementing his position as one of South Africa’s most affluent individuals.
From South Africa to Europe: Stuhler’s diverse real estate holdings
Lighthouse Properties boasts a diversified property portfolio that includes retail assets in France, Portugal, Slovenia, Spain, and the United Kingdom. Stuhler owns a 9.72-percent stake in Lighthouse Properties, which amounts to 172,699,222 ordinary shares in the company.
With over 30 years of experience in the real estate sector, Stuhler who is the visionary co-founder of Resilient Real Estate Investment Trust (REIT) also owns stakes in Pangbourne Properties, a top-performing property investment company founded in 2007.
Stuhler’s wealth soars as Lighthouse Properties’ market cap on JSE surges above $740 million
Since the start of the year, Lighthouse Properties shares on the JSE have increased 9.2 percent, rising from R7.28 ($0.38509) on Jan., 1 to R7.95 ($0.4205) at the time of writing. The recent surge in the company’s share price has pushed its market capitalization above $740 million.
As a result of the 9.2-percent surge in the group’s share price, the market value of Stuhler’s stake in Lighthouse Properties has now risen by R115.71 million ($6.12 million), rising from R1.26 billion ($66.50 million) on Jan. 5 to R1.37 billion ($72.62 million) at the time of writing.
This recent $6.12-million gain cements Stuhler’s position not only as a high-value investor on the Johannesburg Stock Exchange but as one of the richest individuals in the country.