Table of Contents
Key Points:
- Sue Youcef Nabi’s Coty stake drops $37.9 million over 27 days, falling from $316.4 million to $278.5 million.
- Coty Inc.’s stock declines 12% in the past 27 days, reducing market cap below $8 billion.
- Coty’s stock has fallen 26% this year, reducing a $100,000 investment to $73,990, reflecting a $26,010 loss.
Algerian-born French entrepreneur Sue Youcef Nabi has experienced another setback with her investment in American beauty giant Coty Inc., adding to prior declines in her portfolio.
According to data tracked by Billionaires.Africa, Nabi’s stake in Coty has dropped by $37.9 million over the past 27 days. This decline is part of a continuing trend that has seen her stake decrease from $324.56 million to $296.08 million between May 28 and June 21.
Coty suffers 12-percent stock decline, market cap drops below $8 billion
Coty Inc., an American multinational beauty company founded in 1904 by François Coty, has grown into a global leader in the fragrance industry. It holds the second-largest market share in hair color and styling products and ranks third in color cosmetics.
The company’s shares on the NYSE have fallen by 112 percent over the last 27 days, from $10.44 on July 12 to $9.19. This recent downturn has caused Coty’s market capitalization to drop below $8 billion, translating into significant losses for shareholders, including Nabi.
Sue Nabi’s Coty stake falls $37.9 million
Nabi, who is also the founder of the vegan skincare line Orveda, owns a significant 3.53-percent stake in Coty, which translates to 30,304,786 shares. Due to the recent plunge in the group’s share price, the stake has declined by $37.9 million over the past 27 days, from $316.4 million on July 12 to $278.5 million.
Despite these financial setbacks, Sue Nabi remains a powerful figure in the global beauty industry. As the CEO of Coty and the founder of the vegan skincare line Orveda, her leadership continues to influence the market. Nabi also ranks among the wealthiest African-born business executives.
Coty Inc. is among the companies experiencing negative returns in 2024. The company’s shares have dropped by 26 percent year-to-date. For investors, this translates into significant losses; a $100,000 investment in Coty at the start of the year would now be worth $73,990, reflecting a loss of $26,010.
