South African business magnate Laurie Dippenaar has seen a remarkable rebound in the market value of his stake in FirstRand, following a recent rally in the stock price of the financial services conglomerate on the Johannesburg Stock Exchange (JSE) .
According to data tracked by Billionaires.Africa , stake in FirstRand has surged by R581.5 million ($32.61 million) over the past 13 days, reinforcing his standing among South Africa's wealthiest individuals. This recovery comes after a $17.1 million loss recorded between July 17 and Aug. 7 , when the market value of his holdings dropped from $435.48 million to $418.37 million.
FirstRand's market cap tops $26 billionFirstRand, Africa's largest financial services group by market capitalization, boasts a diversified portfolio that includes FNB, RMB, WesBank, and Aldermore. The group operates actively in South Africa, the UK, and various African regional markets.
Recently, FirstRand's shares experienced a significant uptick, rising by 7.52 percent from R78.3 ($4.39) on August 6 to R84.19 ($4.72). This surge has propelled the company's market capitalization beyond $26 billion.
