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Key Points
- Giovanni Ravazzotti’s fortune has risen by nearly $140 million in 2024, pushing the market value of his holdings closer to $590 million.
- Italtile’s stock has gained 29.88% year-to-date, lifting its market cap to over $1 billion and driving growth in Ravazzotti’s $590 million stake.
- Italtile’s strong performance has delivered robust returns, with a $100,000 investment in January now worth $130,547, reflecting steady growth for investors.
South African businessman Giovanni Ravazzotti, founder of Italtile, has solidified his position among the country’s wealthiest individuals, buoyed by a remarkable surge of nearly $140 million in the market value of his stake in the company since the start of 2024.
Ravazzotti owns a 56.46 percent stake in Italtile, comprising over 746 million shares, currently valued at $590 million. Since January 1, the value of his stake has risen by R2.46 billion ($137.19 million), driven by a robust rally in Italtile's share price on the Johannesburg Stock Exchange (JSE).
Despite market volatility, Italtile’s stock has shown resilience this year, consistently delivering value to investors. Between Oct. 28 and Nov. 12, the stock experienced a notable surge, adding $24.82 million to Ravazzotti’s stake and lifting its valuation to R10.27 billion ($569.11 million) during that period.
Italtile powers Giovanni Ravazzotti’s fortune
Italtile, founded in 1969 by Giovanni Ravazzotti after his move from Italy to Johannesburg, has established itself as a leading force in South Africa’s home and construction sector. Its portfolio includes Italtile Retail, CTM, TopT, and U-Light, all specializing in tiles, bathroom ware, and lighting solutions.
Italtile’s stock has gained 29.88 percent year-to-date, rising from R11.01 ($0.6171) at the start of 2024 to R14.30 ($0.786) per share. The surge has propelled the company’s market capitalization above $1 billion, supported by strong demand from local and international investors.
This has significantly boosted the market value of Ravazzotti’s stake in the company. His holdings increased by R2.46 billion ($137.19 million), reaching R10.67 billion ($586.31 million), up from R8.22 billion ($449.12 million) at the beginning of the year.
Your Money and Your Life
Italtile’s recent performance has yielded strong returns for shareholders, with local investors seeing a 29.88 percent year-to-date gain and foreign investors benefiting from a slightly higher 30.55 percent increase.
This underscores the company’s position as a solid performer in Africa’s market. For example, a $100,000 investment in January would now be worth $130,547, marking a $30,547 profit.
