South African billionaire Jannie Mouton sees $46.9 million loss on Capitec shares

Omokolade Ajayi -

Key Points:

  • South African billionaire Jannie Mouton’s stake in Capitec saw a $46.9 million decline due to a recent decline in the stock price on the JSE.
  • The retail bank’s stock slumped 6.28% on the JSE, pushing its market cap below $15 billion.
  • Despite the recent loss for investors, Capitec has delivered a substantial year-to-date gain of 6.62% to investors.

South African billionaire Jannie Mouton, renowned for founding South African investment holding firm PSG Group, has suffered a substantial decline in the market value of his stake in Capitec Bank amid sustained selling pressures on the Johannesburg Stock Exchange.

According to data tracked by Billionaires.Africa, the market value of Mouton’s stake in Capitec Bank has decreased by R873.38 million ($46.9 million) in the past 23 days, driven by the single-digit percent decline in the shares of the financial services provider.

This comes on the heels of a $94 million gain recorded between April 17 and May 4 when the market value of his stake in Capitec Bank surged from R11.96 billion ($646.08 million) to R13.70 billion ($740.15 million).

Capitec Bank’s market value falls below $15 billion

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 fallen by 6.28 percent within the past 23 days, plummeting from R2,305.17 ($123.556) on May 7 to R2,160.44 ($115.798), thus pushing its market capitalization below $15 billion, leading to a loss for shareholders.

Jannie Mouton’s Capitec stake falls as share price drops

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 $700.07 million presently.

Due to the single-digit percent rise in the bank’s share price, the market value of Jannie Mouton’s stake has slumped by R873.38 million ($46.90 million) over the past twenty-three days, falling from R13.91 billion ($746.97 million) on May 7 to R13.04 billion ($700.07 million) at the time of reporting.

This plunge 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.

Your Money and Your Life

Despite a recent decline in the market value of Mouton’s Capitec Bank stake, the bank’s share price has delivered some returns to investors in terms of year-to-date performance — underscoring the resilience of the financial sector.

In view of this, Capitec Bank shares have surged by 6.62 percent YTD, showcasing investor confidence in the leading South African retail bank. A $100,000 investment at the start of the year would now be worth $106,620, reflecting a gain of $6,620.