South African tycoon Giovanni Ravazzotti gains $18.4 million from Italtile stake in just 3 days

Feyisayo Ajayi -

Key Points

  • Giovanni Ravazzotti’s stake in Italtile has grown by $18.4 million over three days, reflecting a 6.57% share price increase.
  • Italtile’s market capitalization has surpassed $880 million, solidifying its position as one of South Africa’s most valuable companies.
  • Year-to-date, Italtile shares have risen by 11.29%, significantly boosting shareholder wealth and investor confidence.

South African businessman Giovanni Ravazzotti has seen a significant boost in his wealth, driven by his stake in Italtile, a leading global retailer of high-quality ceramic and porcelain tiles.

According to data from Billionaires.Africa, Ravazzotti’s stake in Italtile has gained R331.33 million ($18.4 million) in value over the past three days, reflecting a positive trend in the company’s shares on the Johannesburg Stock Exchange (JSE).

This recent boost follows a significant increase of $24.26 million in Ravazzotti’s wealth between June 27 and July 17, as the value of his stake in Italtile rose from R4.88 billion ($269.88 million) to R5.32 billion ($294.14 million).

Italtile’s market cap surpasses $880 million

Italtile, recognized as a premier franchisor, retailer, and manufacturer in the tile and bathroomware sector, operates a range of prominent retail brands, including Italtile Retail, CTM, TopT, and U-Light. Additionally, the company serves as a barometer for measuring consumer expenditure health within the South African market.

In just three days, Italtile shares on the JSE have risen by 6.57 percent, going from R11.26 ($0.62.53) on August 12 to R12 ($0.664). This surge has pushed its market capitalization above $880 million, thus solidifying its position as the 81st most valuable company in South Africa in terms of market capitalization.

Ravazzotti’s Italtile stake surge by $18.4 million

Prominent South African business tycoon and Italtile founder Giovanni Ravazzotti holds a 33.9 percent stake in the company, amounting to 447,746,694 shares. The recent rise in Italtile’s share price strengthens Ravazzotti’s position as a major investor on the JSE.

Thanks to the recent share price increase, Ravazzotti’s stake has grown by R331.33 million ($18.39 million) in just three days, from R5.04 billion ($279.90 million) on August 12 to R5.37 billion ($298.30 million) at the time of drafting this report.

The recent surge in his stake in Italtile, which significantly contributes to his multimillion-dollar fortune, firmly solidifies his position as one of the high-value investors on the JSE and one of the country’s most affluent individuals.

Your Money and Your Life

Italtile shares have delivered an 11.29 percent year-to-date increase on the JSE, significantly boosting shareholder wealth. A $100,000 investment at the beginning of the year would now be valued at $111,295 reflecting a profit of $11,295.