Naspers share decline costs South African billionaire Koos Bekker $29.5 million

Feyisayo Ajayi -

Key Points:

  • Koos Bekker’s Naspers stake has dropped by R537.52 million ($29.53 million) in the past 30 days due to market volatility.
  • Despite a recent share buyback, Naspers shares have slumped 8.14 percent over the past month, affecting shareholder value.
  • Despite a recent decline, Naspers shares have delivered a 17.83% return year-to-date.

South African billionaire Koos Bekker, renowned for his strategic investments in the technology sector, has experienced a significant decline in the market value of his stake in Naspers over the past 30 days.

This period has been marked by challenging market conditions and heightened volatility in the share price of the leading conglomerate on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaire.Africa, the market value of Bekker’s shares in Naspers has declined by R537.52 million ($29.53 million) over the past 30 days to R6.07 billion ($333.27 million).

This downturn follows a period of steady gains for Bekker, with his stake increasing by $32.59 million between April 25 and May 23.

Naspers share decline despite buyback

Naspers Limited, 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. 

Despite its recent efforts to boost shareholder value through its share buyback program, which saw it repurchase a total of 254,193 shares for $52.57 million between June 17 and 21, Naspers shares have faced a significant decline in recent times on the JSE.

In the past 30 days, Naspers shares have experienced an 8.14 percent slump, dropping from R3,91.32 ($215.004) on May 27 to R3,593.86 ($197.518). This decline has pushed the group’s market capitalization below the $36 billion threshold, resulting in substantial losses for shareholders, including Koos Bekker.

Koos Bekker’s influence and recent losses

Koos 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 downtrend in Naspers shares has translated into a R537.52 million ($29.53 million) decline in the market value of Koos Bekker’s stake, decreasing from R6.60 billion ($362.80 million) on May 27 to R6.07 billion ($333.27 million)

Despite the recent challenges in the market, Bekker retains his status as one of the affluent investors on the JSE. His diversified investment portfolio has contributed to a net worth of $2.9 billion, securing him the 9th position among Africa’s richest individuals.

Your Money and Your Life

Despite the recent decline, Naspers shares have delivered a 17.83 percent return year-to-date. A $100,000 investment at the beginning of the year would now be worth $118,469.32, reflecting a gain of $18,432.64. This performance highlights the company’s potential for long-term growth, even amid short-term market volatility.