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Solidifying his status position South African billionaires, Michiel Le Roux experienced a notable increase in his wealth as his stake in Capitec Bank surged by $42 million due to the sustained rise in the bank’s shares on the Johannesburg Stock Exchange (JSE).
According to stock market data tracked by Billionaires.Africa, Le Roux’s stake in Capitec Bank rose by R796.55 million ($42.37 million) over the past week, reflecting investors’ ongoing interest in the prominent South African lender.
Capitec Bank’s shares rise on JSE: boosting shareholder gains and Le Roux’s wealth
Capitec Bank, founded in 1999 by Le Roux, Jannie Mouton, and Riaan Stassen, has become a prominent retail banking brand, boasting a robust customer base. With a vast network of more than 850 branches and 7,400 ATMs across South Africa, it stands out as a global leader.
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 leading retail banking group — makes him one of the richest men on the African continent.
On the JSE, Capitec Bank’s shares have surged over 3 percent in the past week, climbing from R1,999.61 ($106.377) on Feb. 28 to R2,060 ($109.589). This increase not only delivered substantial gains to shareholders but also significantly boosted Le Roux’s market value.
Michiel Le Roux’s Capitec Bank stake surge by $42.4 million in 7 days
Due to a 3.02-percent increase in the group’s stock value, Le Roux’s ownership in Capitec Bank has risen by R796.55 million ($42.37 million) in the last seven days. His stake, valued at R26.37 billion ($1.40 billion) on Feb. 28, now stands at R27.17 billion ($1.44 billion). This surge solidifies his standing as one of South Africa’s leading businessmen and investors.
Le Roux’s recent wealth gain highlights his entrepreneurial acumen and strategic investments in the banking sector. His significant contributions to the South African financial services industry further affirm his position among the country’s top billionaires.
