Alan Pullinger nets $1.95 million in year-to-date gains from FirstRand stake

Timilehin Adejumobi -
Key Points
  • Alan Pullinger’s stake in FirstRand has grown by $1.95 million in 2024, driven by a rally in the bank's shares on the JSE.
  • FirstRand’s market cap has surpassed $23 billion, fueled by a 6.83% rise in shares this year, highlighting investor confidence.
  • Pullinger’s wealth grows to $30.54 million, positioning him as one of the wealthiest investors on the JSE.

South African banker Alan Pullinger, former CEO of FirstRand, has seen the value of his stake climb by nearly $2 million this year, fueled by a rally in the bank’s shares on the Johannesburg Stock Exchange (JSE).

Since the start of the year, Alan Pullinger’s 0.13 percent stake in FirstRand, equivalent to 7,079,000 ordinary shares, has increased by R35.54 million ($1.95 million), underscoring investor confidence in one of Africa’s largest financial institutions.

FirstRand shares surge, market cap tops $23 billion

FirstRand, known for its diverse portfolio that includes FNB, RMB, WesBank, and Aldermore, operates not only in South Africa but also in the UK and regional markets across Sub-Saharan Africa. The group has cemented its status as a key player in the industry.

The leading lender’s shares have gained 6.83 percent this year, rising from R73.51 ($4.04) to R78.53 ($4.31). The rally has pushed FirstRand’s market capitalization above $23 billion, providing significant returns for shareholders.

Pullinger’s wealth rises to $30.54 million

The rally has boosted the market value of Alan Pullinger’s stake by R35.54 million ($1.95 million), raising his holdings from R520.38 million ($28.59 million) on Jan. 1 to R555.91 million ($30.54 million) today.

This growing fortune not only reinforces his standing as one of South Africa's most affluent executives but also cements his place among the wealthiest investors on the JSE.

Your Money and Your Life

Year-to-date returns for FirstRand stand at 6.83 percent, reflecting ongoing investor confidence in the group’s long-term growth potential.

A $100,000 investment in FirstRand shares at the start of 2024 would now be worth $106,830, marking a gain of $6,830. This solid increase underscores the lender’s ability to deliver strong shareholder returns.