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Key Points
- South African tech tycoon Jens Montanana's stake in Datatec has surged by $3.5 million, pushing its market value close to $80 million.
- Datatec shares on the JSE have climbed 4.65 percent since Oct. 14, boosting its market cap to over $490 million and benefiting shareholders.
- Despite the recent surge, Datatec’s share price is down 7.14 percent year-to-date, translating to a $7,140 loss on a $100,000 investment.
South African tech tycoon, Jens Montanana, founder of Datatec, has added $3.5 million to his wealth as the market value of his stake in the tech company surged, reaching nearly $80 million.
Montanana holds a 15.88 percent stake in Datatec, amounting to 37,005,480 shares. Since Oct. 14, the value of his ownership has climbed from R1.33 billion ($75.19 million) to R1.39 billion ($78.68 million), marking a rise of R61.8 million ($3.5 million).
The increase reflects growing investor confidence in Datatec, a leading provider of ICT solutions, with shares rising steadily over the past nine days.
Sustained gains boost investor optimism
The recent increase in Jens Montanana’s shares follows an earlier $3.66 million gain recorded between Aug. 6 and 22, when his stake grew from R1.09 billion ($60.8 million) to R1.15 billion ($64.46 million).
Datatec’s stock on the Johannesburg Stock Exchange (JSE) has risen 4.65 percent in the past nine days, from R35.94 ($2.03) to R37.61 ($2.13), driving the company’s market capitalization beyond $490 million.
Despite these short-term gains, Datatec’s shares remain down 7.14 percent year-to-date. An investment of $100,000 in Datatec at the beginning of 2024 would now be valued at $92,860, reflecting a loss of $7,140.
Leader in tech innovation
Founded in 1986 by Jens Montanana, Datatec offers a range of ICT solutions, including cloud-based services such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS).
Montanana’s growing stake underscores his influence as a top investor in South Africa’s tech sector.
