South African businessman Giovanni Ravazzotti has seen a significant boost in his wealth, driven by his stake in Italtile, a leading global retailer of high-quality ceramic and porcelain tiles.
According to data from Billionaires.Africa , Ravazzotti's stake in Italtile has gained R331.33 million ($18.4 million) in value over the past three days, reflecting a positive trend in the company's shares on the Johannesburg Stock Exchange (JSE).
This recent boost follows a significant increase of $24.26 million in Ravazzotti's wealth between June 27 and July 17 , as the value of his stake in Italtile rose from R4.88 billion ($269.88 million) to R5.32 billion ($294.14 million).
Italtile's market cap surpasses $880 millionItaltile , recognized as a premier franchisor, retailer, and manufacturer in the tile and bathroomware sector, operates a range of prominent retail brands, including Italtile Retail, CTM, TopT, and U-Light. Additionally, the company serves as a barometer for measuring consumer expenditure health within the South African market.
