Algerian-born French entrepreneur Sue Nabi gains $27 million from Coty stake

Yusuf Abdulfatai -

Algerian-born French entrepreneur and business executive Sue Youcef Nabi (Sue Nabi)  has seen a $27 million increase in the value of her Coty Inc. shares over the past thirteen days.

This surge coincides with a recent upswing in the multinational beauty company’s stock price on the New York Stock Exchange (NYSE).

Billionaires.Africa data shows Nabi’s stake in Coty has risen by $27 million in the last 13 days, reflecting heightened investor interest. This follows a decline of $83.6 million between February 27 and April 16, when her stake dropped from $401.8 million to $318.2 million.

Coty shares jump, market cap tops $10 billion

Coty, founded in 1904 by François Coty, has become a global leader in the fragrance industry. It holds the second-largest market share in hair color and styling products and the third-largest in color cosmetics.

The company, along with its subsidiaries, develops, manufactures, markets, and distributes fragrances, cosmetics, skincare, and nail care products. It also offers professional and retail hair care products, owning around 77 brands as of 2018.

Recent trading on the NYSE has seen Coty’s shares rise 8.37 percent, climbing from $10.63 on April 17 to $11.52 at the time of writing. This surge has propelled the company’s market capitalization above $10 billion, leading to substantial gains for shareholders like Nabi.

Nabi’s Coty stake gains $27 million

Sue Nabi, who also founded the vegan skincare line Orveda, holds a significant 3.53 percent stake in Coty, translating to 30,304,786 shares currently valued at nearly $350 million.

Thanks to the recent bump in Coty’s share price, the market value of Nabi’s stake has risen by $27 million, from $322.14 million on April 17 to $349.11 million at the time of writing.

This surge reaffirms Nabi’s position as a prominent figure in the ever-evolving beauty sector. As one of the wealthiest African-born executives globally, her visionary leadership continues to make a significant impact on the industry.