Table of Contents
Key Point
- Gerrie Fourie’s stake in Capitec Bank increased by $8.11 million over the past 24 days.
- Capitec Bank’s market capitalization nears $17 billion as shares surge by 5.71% from June 27 to July 21.
- Capitec Bank has delivered a 35.9% year-to-date return, turning a $100,000 investment into $135,900.
South African banking executive Gerrie Fourie has witnessed a substantial increase in the market value of his stake in Capitec Bank, driven by a sustained rise in the share price of the leading retail bank on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaire.Africa, Fourie’s stake in Capitec Bank has grown by R148.65 million ($8.11 million) over the past 24 days. This adds to gains recorded between May 31 and June 21, when the market value of his stake increased by R490.61 million ($27 million), from R2.19 billion ($122.12 million) to R2.67 billion ($149.10 million).
Capitec Bank’s shares surge, market cap nears $17 billion
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 times, Capitec Bank’s shares have experienced a notable uptick, rising 5.71 percent from R2,535 ($138.3) on June 27 to R2,679.65 ($146.2). This increase has pushed the retail bank’s market capitalization near the $17 billion mark.
Gerrie Fourie’s stake in Capitec up by $8.11 million in 22 days
As Capitec Bank’s CEO, Gerrie Fourie holds a 0.89-percent stake in the leading retail 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.
As a result of the recent surge in the group share price, Fourie’s stake in Capitec Bank has increased by R148.65 million ($8.11 million) in the last 24 days, rising from R2.61 billion ($142.17 million) on June 27 to R2.75 billion ($150.28 million).
This rise further solidifies Gerrie Fourie’s status as one of South Africa’s wealthiest executives and firmly establishes his position among affluent investors on the JSE.
Your Money and Your life
Capitec Bank continues to deliver impressive returns to its investors, boasting a year-to-date return of 35.9 percent. A $100,000 investment made at the beginning of the year would now be valued at $135,900, reflecting a gain of $35,900.
