South African tycoon Jens Montanana sees $3.5-million gain in Datatec stake

Feyisayo Ajayi -

Key Points

  • Jens Montanana’s stake in Datatec has risen by $3.66 million in 16 days, nearing a market value of $65 million.
  • Datatec’s market capitalization exceeds $470 million, with a 6% increase in share price over the past 15 days.
  • Despite recent gains, Datatec shares are down 8.54% year-to-date, showing an $8,538 loss on a $100,000 investment.

South African tycoon Jens Montanana, the founder of Datatec, has experienced a significant rebound in his wealth, with the market value of his stake rising by more than $3.5 million. This uptick brings his stake’s market value close to the $65-million mark.

According to data tracked by Billionaires.Africa Montanana’s stake in Datatec has increased by R64.46 million ($3.66 million) over the past 16 days. This recovery follows a previous decline of $4.31 million in his stake between July 16 and 29, when its value fell from R1.21 billion ($65.83 million) to R1.13 billion ($61.52 million).

Datatec’s market cap surges past $470 million

Datatec, headquartered in South Africa, specializes in providing information and communication technology (ICT) solutions, including Infrastructure as a Service (IaaS) and Software as a Service (SaaS).

Over the last 15 days, Datatec’s shares on the Johannesburg Stock Exchange (JSE) have risen by six percent, from R34.1 ($1.91) on Aug. 6 to R36.15 ($2.03). This uptick has propelled the company’s market capitalization above $470 million.

Jens Montanana’s stake hits $64.46 million

Jens Montanana, who founded Datatec in 1986, holds a 14.49-percent stake in the company, amounting to 31,832,429 ordinary shares.

The recent surge in Datatec’s share price has boosted the market value of Montanana’s stake from R1.09 billion ($60.8 million) on Aug. 6 to R1.15 billion ($64.46 million).

This gain further solidifies Montanana’s status as a leading investor on the JSE and a prominent figure in South Africa’s technology sector.

Datatec’s shares have risen recently but remain down 8.54 percent year-to-date. A $100,000 investment at the start of the year is now worth $91,462, reflecting an $8,538 loss. This highlights ongoing market risks despite recent gains.