South African tycoon Stephen Brookes gains $2.3 million from Balwin stake in 10 days

Feyisayo Ajayi -
Key Points
  • Stephen Brookes's wealth surged by more than $2.2 million in 10 days, driven by Balwin Properties's share price rally.
  • Balwin’s share price has risen 11.79% since Sept. 20, pushing the company’s market capitalization above $65 million.
  • Balwin shares have jumped 6.62% year-to-date, delivering a $6,621 gain for investors who invested $100,000 at the year’s start.

South African real estate tycoon Stephen Brookes, the founder of Balwin Properties, has seen his wealth rise by more than $2.2 million over the last 10 days, thanks to a strong rally in the share price of Balwin Properties.

Stephen Brookes, a South African real estate mogul who founded Balwin Properties in 1996, holds 170,374,031 shares, or a 36.08-percent stake.

Since Sept. 20, Brookes’ stake has increased by R39.19 million ($2.27 million), raising the market value of his shares from R332.23 million ($19.27 million) to R371.42 million ($21.55 million). 

This reversal follows a prior downturn, during which his holdings decreased by R37.48 million ($2.01 million) between March 20 and April 3, dropping from R323.71 million ($17.34 million) to R286.23 million ($15.33 million).

Balwin shares jump 11.79 percent

Balwin Properties, known for its large-scale estates catering to South Africa’s low-to-middle-income population, prides itself on providing affordable and environmentally efficient apartments with innovative lifestyle offerings for residents. 

The share price of Balwin Properties has surged 11.79 percent over the last 10 days, rising from R1.95 ($0.113) on Sept. 20 to R2.18 ($0.127).

This rise, fueled by strong buying interest on the Johannesburg Stock Exchange, has pushed Balwin’s market capitalization to more than $65 million, delivering substantial returns to its investors.

Your Money and Your Life

Balwin Properties' shares have been able to book some gains this year, jumping 6.62 percent year-to-date on the Johannesburg Stock Exchange (JSE) coupled with the strengthening of the Rand against the dollar.

Investors who invested $100,000 in the leading lender's shares at the beginning of the year have seen their investment grow to $106,621, representing a substantial $6,621 gain.