Key Points:
- Algerian-born French cosmetics CEO Sue Nabi’s Coty stake dropped $28.5 million as the company’s stock price fell nearly 9%.
- The beauty giant’s shares are down by 8.78 percent in the past 23 days, pushing its market cap below $8.5 billion.
- Year-to-date, Coty shares are down 21.34 percent, resulting in significant losses for investors.
Algerian-born French entrepreneur and business executive Sue Youcef Nabi (Sue Nabi) has witnessed a significant decrease in the market value of her stake in Coty Inc. over the past 23 days amid a recent decline in the shares of the beauty company on the New York Stock Exchange (NYSE).
According to data tracked by Billionaires.Africa, Sue Nabi’s stake in Coty has declined by $28.49 million, reflecting reduced buying interest in Coty among investors on the NYSE. This adds to Nabi’s previous losses, with her stake decreasing by $33.6 million on May 3 to 22, dropping from $351.5 million on May 3 to $317.9 million at the time of this update.
Coty market cap falls below $8.5 billion
Coty Inc., an American multinational beauty company founded in 1904 by François Coty, has grown into a global leader in the fragrance industry. It holds the second-largest market share in hair color and styling products and ranks third in color cosmetics.
Coty develops, manufactures, markets, and distributes a wide range of beauty products, including fragrances, skincare, nail care, and both professional and retail hair care products. The company boasts ownership of approximately 77 brands as of 2018.
Coty shares on the NYSE have declined by 8.78 percent in recent times, dropping from $10.71 on May 28 to $9.77 as of this report, thus pushing the group’s market capitalization below $8.5 billion.
Sue Nabi’s Coty shares drop $28 million
Nabi, who is also the founder of the vegan skincare line Orveda, owns a significant 3.53-percent stake in Coty, which translates to 30,304,786 shares valued at nearly $300 million. With the recent plunge in the group’s share price, the market value of Nabi’s stake has slumped by $28.49 million, declining from $324.56 million on May 28 to $296.08 million.
Despite the decline, Sue Nabi remains a key player in the beauty industry. As Coty’s CEO, her visionary leadership continues to significantly impact the global beauty landscape. She also ranks as one of the wealthiest African-born business executives globally.
Your Money and Your Life: Coty shares down 21% YTD
Coty shares have experienced a significant downturn this year, leading to notable losses for individual investors. Year-to-date, Coty’s shares on the NYSE have declined by 21.34 percent.
As a result, a $100,000 investment in Coty Inc. at the beginning of the year would now be worth $78,668, representing a loss of $21,332.
