South African billionaire loses $112 million as US targets Tencent in Chinese military blacklist

Omokolade Ajayi -
Key Points
  • Koos Bekker's investment portfolio has dropped by $112 million in 2025, mainly due to declining stakes in Prosus and Naspers.
  • Tencent’s blacklisting by the U.S. has caused a 10% drop in its stock, affecting Prosus and Naspers.
  • Bekker’s net worth declines to $2.8 billion, with $112.7 million lost in his stakes in Prosus and Naspers.

South African billionaire Koos Bekker has suffered a $112-million decline in his investment portfolio since the start of 2025.

His holdings include significant stakes in Amsterdam-based consumer internet group Prosus and its South African parent company, Naspers, which together are valued at over $1 billion.

Earlier this week, the United States blacklisted Chinese technology giant Tencent Holdings, the world’s largest gaming publisher, for alleged links to the Chinese military.

This unexpected move, coming just weeks before Donald Trump’s return to the White House, also targeted several other Chinese firms, including CATL, a major Tesla supplier, and shipbuilding giants such as Cosco Shipping Holdings Co and China State Shipbuilding Corp.

The Pentagon’s decision to classify these companies as linked to the People’s Liberation Army has been met with strong opposition from Tencent and others, who insist they have no military affiliations.

Tencent slump weighs on Prosus and Naspers shares

Although the blacklist imposes no direct penalties, it discourages U.S. firms from engaging with the affected companies and underscores heightened scrutiny of Chinese firms in sectors like marine transport and shipbuilding.

Tencent’s stock has plunged over 10 percent this year on the Hong Kong Stock Exchange, a downturn that has rippled through to its largest shareholder, Prosus.

Prosus, which held a 24.3-percent stake in Tencent as of Sept. 30, 2024. Its parent company, Naspers, based in Cape Town, South Africa, has also felt the impact.

The troubles facing Tencent have dragged down the share prices of both Prosus and Naspers, with declines of 9.4 percent and 11.5 percent, respectively, since the start of the year.

This has reduced their market capitalizations to under $90 billion on the Amsterdam Stock Exchange and $40 billion on the Johannesburg Stock Exchange, respectively.

Naspers, Prosus stake declines hit Koos Bekker’s wealth

As a result, Koos Bekker, the chairman of both companies, has seen the market value of his stakes in Prosus and Naspers drop sharply.

His 0.76-percent stake in Prosus, amounting to 19,646,498 shares, has fallen by $73 million this year, declining from $776 million to $703 million.

Similarly, his 0.93-percent stake in Naspers, representing 1,687,887 ordinary shares, has lost $39.6 million in value, dropping from $372.3 million to $332.6 million.

Combined, the value of his stakes in both companies has fallen by $112.7 million, from $1.148 billion to $1.035 billion at the time of this report.

Forbes estimates Bekker’s net worth has also taken a hit. Since the start of the year, his wealth has declined by over $100 million, dropping from $2.9 billion to $2.8 billion, reflecting the broader challenges faced by Prosus and Naspers.