Key Points:
- South African tech giant Naspers’ stock surges, boosting Koos Bekker’s stake by $32 million.
- The company’s share repurchase program highlights its commitment to shareholder value.
- Naspers’ strong YTD performance reflects a broader trend in tech stocks delivering impressive returns.
South African tech mogul Koos Bekker has seen the value of his stake in Naspers, Africa’s largest listed company, climb significantly in recent weeks, fueled by a strong run in the conglomerate’s share price on the Johannesburg Stock Exchange (JSE).
According to data from Billionaire.Africa, the market value of Bekker’s Naspers holding has surged by R600.74 million ($32.59 million) over the past 28 days to roughly R6.64 billion ($359.94 million). This upswing follows a period of steady gains for Bekker, with his Naspers holdings increasing by $36.75 million between April 17 and 25.
Naspers repurchases shares, market cap tops $37 billion
Naspers, a South African multinational with a global footprint in internet, media, and technology, boasts a diversified portfolio spanning online retail, publishing, and venture capital. The company operates across five continents and serves over two billion customers.
Underscoring its commitment to shareholder value, Naspers recently initiated a $56.33-million share buyback program, repurchasing 331,645 shares. This move reflects the company’s strategic approach to navigating the dynamic global internet landscape.
Naspers’ shares on the JSE have skyrocketed 9.96 percent year-to-date, climbing from R3,575.13 ($193.96) on April 25 to R3,931.04 ($213.26), propelling the group’s market capitalization above $37 billion and generating substantial returns for investors.
Bekker’s Naspers stake soars
Bekker, a titan of South African business, is credited with transforming Naspers from a traditional newspaper publisher into a leading player in e-commerce and cable TV. Despite holding a relatively modest 0.85 percent stake (1,687,887 ordinary shares), Bekker’s influence on the company’s direction remains significant.
The recent surge in Naspers’ share price has fueled a R600.74 million ($32.59 million) increase in the market value of Bekker’s stake over the past 28 days, rising from R6.03 billion ($327.35 million) on April 25 to R6.64 billion ($359.94 million).
This gain solidifies Bekker’s position as a prominent South African business leader and a top investor on the JSE. His diversified portfolio has propelled his net worth to an estimated USD 2.9 billion, securing his place among Africa’s wealthiest individuals.
Your Money and Your Life
Naspers shares are just one example of the many companies that have delivered impressive returns to investors year-to-date.
The company’s shares on the JSE have surged 28.88 percent year-to-date, meaning a $100,000 investment at the start of the year would be worth $127,950.60 today, representing a gain of $27,914.
