Jannie Mouton, South African billionaire businessman and founder of investment holding firm PSG Group, has witnessed a multi-million dollar surge in his fortune in recent times, thanks to the recent surge in the market value of his stake in Capitec Bank.
According to data tracked by Billionaires.Africa, the market value of Mouton’s stake in Capitec Bank has risen by R1.74 billion ($94.08 million) in the past 16 days, driven by the upswing in the shares of the leading retail bank on the Johannesburg Stock Exchange (JSE).
This increase comes on the heels of a $57.4-million loss recorded between April 8 and 13, when the market value of his stake in Capitec bank slumped from R13.4 billion ($710.61 million) to R12.32 billion ($653.25 million).
Capitec Bank shares surge by 14.56 percent
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.
Capitec Bank shares on the JSE have risen by 14.56 percent within the past 16 days, increasing from R1,981.5 ($107.1) on April 17 to R2,270 ($122.68), thus propelling the leading retail bank’s market capitalization above $14 billion since the year began.
Mouton’s stake in Capitec Bank surges above $740 million
Jannie Mouton, one of the co-founders of Capitec Bank alongside Michiel Le Roux and Riaan Stassen, owns a 5.11-percent stake in the bank through the J.F. Mouton Familietrust. This holding amounts to 6,034,518 shares, valued at above $740 million presently.
As a result of the double-digit percent rise in the bank’s share price, the market value of the stake held by Jannie Mouton has soared by R1.74 billion ($94.02 million) in the past 16 days increasing from R11.96 billion ($646.08 million) on April 17 to R13.70 billion ($740.15 million) at the time of writing.
This surge in Mouton’s stake solidifies his status among the most affluent investors on the JSE, reinforcing his position among the wealthiest individuals in South Africa.
