South African billionaire Michel Le Roux has seen his stake in Capitec Bank swell by over $160 million in just 16 days, driving his holdings closer to the $2.2 billion mark. This boost comes shortly after surpassing the $2 billion milestone earlier this month.
According to data tracked by Billionaires.Africa , Le Roux's stake in Capitec Bank has risen by R2.87 billion ($161.6 million) over the last 16 days. This significant gain is attributed to a sustained increase in Capitec's share price on the Johannesburg Stock Exchange (JSE) .
This follows an earlier gain from June 27 to July 11, when Le Roux's stake increased by $77.03 million , $1.85 billion to $1.92 billion.
Capitec's share price soars, enhancing market valueFounded in 1999 by Michiel le Roux, Jannie Mouton, and Riaan Stassen, Capitec Bank has grown into one of the world's largest retail banking institutions. The bank, which serves over 22 million active clients as of Feb. 29, 2024-a 10 percent increase from the previous year-operates a vast network of over 850 branches and 7,400 ATMs across South Africa.
