South African Billionaire Michiel Le Roux's Capitec Bank Stake Rebounds Above 2.2 Billion
- Michiel le Roux's stake climbs above 2.2 billion as Capitec's stock gains 8.88 on the Johannesburg Stock Exchange.
- His 11.36 stake in Capitec gained R3.41 billion 185 million in two weeks, reversing earlier declines in January.
- Capitecs market cap nears 20 billion, rewarding shareholders with steady gains despite early-year volatility.
South African billionaire Michiel le Rouxs fortune is back on the rise as the value of his stake in Capitec Bank climbs above 2.2 billion. The rebound comes on the heels of a recovery in the retail banks share price on the Johannesburg Stock Exchange JSE.
Le Roux, who owns an 11.36 percent stake in Capitecequivalent to 13,193,193 shareshas seen his holding gain R3.41 billion 185 million in the past two weeks rising above 2.2 billion. This marks a sharp turnaround from earlier losses when his stake dropped by 164.5 million between Jan. 1 and 28, falling from 2.22 billion to 2.05 billion.
Capitec shares climb, boosting Michiel Le Rouxs wealthCapitec Bank, co-founded by Michiel le Roux alongside Jannie Mouton and Riaan Stassen, has grown into one of the worlds top retail banking brands over the past two decades. With more than 850 branches and 7,400 ATMs across South Africa, it remains a dominant player in the countrys financial sector.
Lately, investors have shown renewed confidence in Capitec, pushing its stock up 8.88 percent on the JSEfrom R2,909.50 157.84 on Jan. 27 to R3,168.00 171.87. This surge has lifted the banks market capitalization to nearly 20 billion, rewarding shareholders, including Le Roux.
As a result, le Roux has recovered some of his earlier losses, with the market value of his stake rising by R3.41 billion 185 million in just two weeks. His stake, valued at R38.39 billion 2.08 billion on Jan. 28, is now worth R41.8 billion 2.27 billion, reversing earlier declines and strengthening his wealth.