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South African billionaire Koos Bekker, recognized for his strategic investments in the technology sector, has faced a significant decline in the market value of his stake in Naspers over the past 21 days. This period has been marked by challenging market conditions and heightened volatility in share prices.
Data obtained from the Johannesburg Stock Exchange (JSE) reveals that Bekker’s stake in Naspers has decreased by R654.87 million ($34.4 million) since February 12. Local investors have been actively reducing their positions in the Cape Town-based group during this time.
From print to powerhouse: Koos Bekker’s visionary leadership at Naspers
Naspers Limited, a South African multinational conglomerate specializing in internet, technology, and multimedia, boasts a diverse portfolio that includes online retail, publishing, and venture capital investments. With a presence in 100 countries across five continents, Naspers serves more than two billion customers.
Koos Bekker, a top figure in South Africa’s business landscape, is credited with transforming Naspers from a newspaper publisher into a formidable player in e-commerce and cable TV. Currently holding a beneficial 0.85-percent stake in Naspers, equivalent to 1,687,887 ordinary shares, Bekker’s influence remains significant.
Market turbulence hits Naspers: Koos Bekker’s stakes plummet 11.3 percent in 21 days
In the past 21 days, Naspers shares on the JSE have experienced an 11.3 percent slump, dropping from R3,432.95 ($180.42) on February 12 to R3,044.97 ($160.02). This decline has pushed the group’s market capitalization below the $30 billion threshold, resulting in substantial losses for shareholders, including Koos Bekker.
The recent downtrend in Naspers shares has translated into a R654.87 million ($34.4 million) decline in the market value of Koos Bekker’s stake, decreasing from R5.79 billion ($304.54 million) on February 12 to R5.14 billion ($270.12 million).
Despite the recent challenges in the market, Bekker retains his status as one of the affluent investors on the JSE. His diversified investment portfolio has contributed to a net worth of $2.6 billion, securing him the 9th position among Africa’s richest individuals.
