Capitec Bank shares soar, boosting Andre du Plessis' wealth by $24 million

Feyisayo Ajayi -

Key Points:

  • Andre du Plessis sees his stake in Capitec Bank surge by $24 million in 22 days, now valued at $129.16 million.
  • Capitec Bank’s shares climb 22.71 percent in 22 days, pushing market cap toward $17 billion.
  • Year-to-date, Capitec Bank shares have risen 28.3%, turning a $100,000 investment into $128,340.

Andre du Plessis, a leading South African businessman and co-founder of Capitec Bank, has seen a significant rise in the market value of his stake in the Stellenbosch-based financial institution amid renewed investor interest on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, du Plessis’ stake in Capitec Bank has surged by R441.8 million ($24 million) over the past 22 days, with his holdings now valued at R2.39 billion ($129.16 million). This follows a previous increase of $15.53 million between April 17 and May 14, when his stake rose from $96.94 million to $112.48 million.

Capitec Bank’s market cap nears $17 billion

Capitec Bank, known for its extensive client base and comprehensive banking services, has solidified its position as a leading South African lender since it was founded over two decades ago. The bank offers a range of financial products including term loans, credit facilities, and credit cards, earning international recognition for its robust banking solutions.

Over the past 22 days, Capitec Bank’s shares on the JSE have climbed by 22.71 percent, increasing from R2,158.60 ($116.79) on June 10 to R2,648.86 ($143.31) as of the latest trading session. This surge has propelled the bank’s market capitalization closer to $17 billion, reflecting investor confidence in its growth prospects.

Andre Du Plessis’s Capitec Bank stake surges by $24 million

Du Plessis, a co-founder of the bank in 2001 alongside South African billionaire Michiel Le Roux, as well as businessmen Jannie Mouton and Riaan Stassen, owns a beneficial 0.78-percent stake in the renowned financial services provider.

The surge in the bank’s share price has propelled the market value of du Plessis’ stake by R441.8 million ($24 million), from R1.95 billion ($105.25 million) on June 10 to R2.39 billion ($129.2 million).

Your Money and Your Life 

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

Investor sentiment remains positive as Capitec Bank navigates a favorable economic landscape, underscoring its resilience and strategic growth initiatives in the financial services sector.