Home » South African tycoon Gerrie Fourie’s stake in Capitec Bank nears $150 million

South African tycoon Gerrie Fourie’s stake in Capitec Bank nears $150 million

Banking executive Gerrie Fourie sees remarkable growth in holdings

by Timilehin Adejumobi
Gerrie Fourie

Key Points:

  • Gerrie Fourie’s stake in Capitec Bank nears $150 million, thanks to a recent surge in the bank’s share price.
  • Capitec Bank’s stock has risen by 22.1% in recent weeks, significantly increasing shareholder value and pushing market capitalization above $16 billion.
  • Capitec Bank delivers a 28.34% year-to-date return, turning a $100,000 investment into $128,340, reflecting robust financial performance.

South African banking executive Gerrie Fourie has witnessed a remarkable increase in the value of his stake in Capitec Bank, with his holdings now nearing the $150 million mark. This significant rise is fueled by a recent surge in the bank’s share price.

Capitec Bank’s stock has experienced a surge in recent weeks, driving the value of Fourie’s stake up by R490.61 million ($27 million) over the past three weeks. His stake is now worth R2.67 billion ($149.1 million). This increase follows a R140.7 million ($7.62 million) gain between April 24 and May 11, when his stake rose from $120.14 million to $127.76 million.

Impressive returns for Capitec investors

Capitec Bank, founded 23 years ago by South African billionaire Michiel Le Roux, along with distinguished businessmen Jannie Mouton and Riaan Stassen, has grown into a leading retail bank. It offers a range of services, including transactional banking and various loan products such as term loans, credit facilities, and credit cards.

In recent weeks, the bank’s shares on the Johannesburg Stock Exchange (JSE) have increased by 22.1 percent, rising from R2,129.9 ($118.83) on May 31 to R2,600.63 ($145.1), pushing the group’s market capitalization above $16 billion, and returning substantial gains to shareholders.

Gerrie Fourie’s stake nears $150 million mark

As Capitec Bank’s CEO, Gerrie Fourie holds a 0.89-percent stake in the bank, equivalent to 1,027,673 ordinary shares. This makes him one of the nation’s most prosperous bankers and positions him among the top investors in the country.

Thanks to the recent surge in Capitec Bank’s shares, the market value of Fourie’s stake has increased by R490.61 million ($27 million), rising from R2.19 billion ($122.12 million) on May 31 to R2.67 billion ($149.10 million). This solidifies Fourie’s position as one of South Africa’s wealthiest executives and cements his position among the affluent investors on the JSE.

Your Money and Your Life: Capitec’s year-to-date performance

Capitec Bank continues to offer impressive returns to its investors, boasting a year-to-date return of 28.34 percent. A $100,000 investment at the start of the year would now be valued at $128,340, reflecting a gain of $28,340.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.