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South African billionaire businessman Andre du Plessis’ wealth has risen significantly after his stake in Capitec Bank, a leading South African financial services giant, surpassed $110 million. This highlights investor confidence in the lender.
According to data tracked by Billionaires.Africa, the market value of Du Plessis’ stake in Capitec Bank has risen by 15.53 million ($15.53 million) in the past 27 days. This is driven by the upswing in the bank’s shares on the Johannesburg Stock Exchange (JSE).
Capitec Bank’s market cap tops $14 billion
Capitec Bank, known for its extensive client base, has solidified its position as a top South African lender since its establishment two decades ago. The bank has earned international recognition as a leading banking brand, offering essential transactional banking services and a range of lending products, including term loans, credit facilities, and credit cards.
Shares of Capitec Bank on the JSE have witnessed a remarkable 16-percent surge in the past 27 days, climbing from R1,981.5 ($107.58) on April 17 to R2,299.01 ($124.82) at the time of writing. This has pushed the market capitalization of the leading retail bank beyond $14 billion.
Andre du Plessis Capitec Bank stake up $15 million
Du Plessis, a prominent South African businessman and co-founder of the bank in 2001 alongside South African billionaire Michiel Le Roux, as well as businessmen Jannie Mouton and Riaan Stassen, owns a beneficial 0.78-percent stake in the renowned financial services provider.
The surge in the bank’s share price has propelled the market value of du Plessis’ stake by $15.53 million over the past 27 days, rising from $96.94 million on April 17 to $112.48 million presently. This increase further cements his position among the wealthiest investors on the JSE and as one of the most affluent individuals in the country.
