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Michiel Le Roux, who owns 11.39 percent of Capitec Bank, or 13,190,043 shares, has seen the value of his stake decrease from $1.6 billion on May 20 to $1.49 billion.
Founded in 2001 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, Capitec offers transactional banking services along with a suite of loan products
This recent slump compounds a previous loss of $76 million recorded between April 8 and 11, when the market value of his stake in Capitec Bank fell below $1.5 billion.
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.
This dividend payout underscores Capitec Bank’s commitment to shareholder value creation.
Demonstrating its commitment to shareholder returns, Capitec Bank’s board of directors declared a final dividend of R3.345 ($0.1754) per share on April 22, 2024.
The recent slump in his fortune follows the $60-million gain recorded on April 4, when his stake in Capitec Bank soared from $1.48 billion to $1.54 billion.
This surge not only cements Le Roux’s status among South Africa’s billionaires but also strengthens his reputation as a key investor on the JSE.
The recent surge in the lender’s share price comes on the heels of its recent acquisition of a majority stake in Cyprus-based digital non-bank consumer lender, Avafin
Capitec Bank, founded two decades ago by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, has evolved into a globally renowned banking brand.
This surge solidifies his standing as one of South Africa’s leading businessmen and investors.
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.
Le Roux presently owns an 11.39-percent stake in Capitec Bank. This stake makes him one of the richest men on the continent.
Since its inception, Le Roux has played a pivotal role in shaping the landscape of the financial services industry throughout Africa.
Le Roux presently owns an 11.39-percent stake in Capitec Bank. This stake makes him one of the richest men on the continent.
This surge in his fortune reaffirms his position among South Africa’s billionaires — firmly establishing his presence within the ranks of the continent’s financial elite.