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Key Points
- Terrence Moolman's fortune increased by R165.12 million ($9.23 million) in under a month due to Caxton's share performance on the JSE.
- Moolman’s stake in Caxton now totals nearly $130 million, reinforcing his influence in South Africa's media industry.
- Caxton shares rebounded 7.67% to R12.49 ($0.72), boosting the company’s market cap to over $250 million and benefiting shareholders significantly.
Terrence Moolman, a renowned South African media mogul and multimillionaire investor, has experienced a notable increase in his fortune, driven by the strong performance of the shares of Caxton & CTP Publishers on the Johannesburg Stock Exchange (JSE).
Moolman, who owns a commanding 51.84 percent direct and indirect stake in Caxton, has seen his stake in Caxton increase by R165.12 million ($9.23 million) in under a month. This substantial gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
The recovery follows a brief slump between May 28 and June 3, when his stake dipped by $3.63 million, dropping from $94.4 million to $90.8 million. However, Caxton shares have since rebounded by 7.67 percent, reaching R12.49 ($0.72) as of October 3.
Caxton’s surge reinforces Terrence Moolman’s position
Founded in 1980 by Terrence Moolman and Noel Coburn, Caxton has evolved into one of South Africa’s most influential publishers, printing, and packaging manufacturers. The company manages a portfolio of 88 newspapers, 15 magazines, and diverse printing and packaging operations, positioning itself as a cornerstone of the South African media landscape.
The recent rally in Caxton shares has propelled its market cap to over $250 million, delivering robust returns to shareholders, especially Moolman, whose stake rose from R2.15 billion ($120.35 million) on Sept. 5 to R2.32 billion ($129.58 million). This recovery has recouped prior losses, reinforcing Moolman’s stature in the country’s media and investment sectors.
Your Money and Your Life
Despite facing increased competition and rising raw material costs, Caxton's shares have delivered a 19.42 percent return to shareholders. This growth is attributed to improving investor confidence in the company's ability to navigate these challenges.
A $100,000 investment in the company’s stock at the beginning of the year would now be worth $119,420, reflecting a $19,420 profit. This upswing underscores the company's resilience in a competitive industry and the value Moolman’s leadership continues to bring to shareholders.
