Table of Contents
Key Point
- South African businessman Giovanni Ravazzotti’s stake in Italtile jumps $24 million in 19 days, driven by rising share price.
- Italtile, leading retailer of ceramic tiles sees shares climb 9%, pushing market value above $850 million.
- Year-to-date, Italtile’s stock is up 6%, offering investors a potential return of $6,070 on a $100,000 investment.
South African businessman Giovanni Ravazzotti has experienced a significant increase in his wealth due to the rising market value of his stake in Italtile, a global retailer of high-quality ceramic and porcelain tiles and associated products.
According to data tracked by Billionaires.Africa, Giovanni Ravazzotti’s stake in Italtile has increased by R438.79 million ($24.26 million) over the past 19 days.
This follows an earlier gain of $44.37 million between May 31 and June 24, during which his stake rose from R4.23 billion ($235.43 million) to R5.13 billion ($285.26 million).
Italtile market cap surpasses $850 million
Giovanni Ravazzotti, Italtile’s founder and a leading South African business tycoon, holds a 33.9 percent stake in the company. His leadership has been pivotal in transforming Italtile into a major player in the global retail and manufacturing sectors.
Italtile, a bellwether for consumer spending health in the South African market, has seen its shares on the Johannesburg Stock Exchange (JSE) increase by 9 percent over the past 19 days, climbing from R10.90 ($0.60) on June 27 to R11.88 ($0.66).
This recent bump in share price has pushed its market capitalization above the $850 million mark, delivering substantial gains for shareholders.
Ravazzotti’s stake increases by $24.26 million
Thanks to the recent share price surge, Giovanni Ravazzotti’s stake has increased by R438.79 million ($24.26 million) in recent weeks, rising from R4.88 billion ($269.88 million) on June 27 to R5.32 billion ($294.14 million) at the time of drafting this report, cementing his position as a leading investor and one of South Africa’s wealthiest individuals.
Steady recovery and year-to-date gains
Following significant losses earlier this year, Italtile’s share price has rebounded significantly, delivering a modest year-to-date gain of 6.07 percent on the JSE.
A $100,000 investment in the company’s shares at the start of the year would now be worth $106,070, representing a gain of $6,070.
