- South African tycoon Stephen Brookes sees his wealth rise as Balwin Properties shares rally, increasing his stake's market value by 2.53 million.
- Brookes holds a 33.07 controlling stake in Balwin Properties, translating to 171,751,457 shares worth over 20 million.
- Balwin Properties shares have gained 7.83 year-to-date, with an initial 100,000 investment now valued at 107,830.
South African real estate tycoon, Stephen Brookes, has witnessed a significant increase in the market value of his stake, propelled by a recent rally in the shares of Balwin Properties on the Johannesburg Stock Exchange JSE.
Brookes, the founder of Balwin Properties, holds a controlling 33.07-percent stake in the company, translating to 171,751,457 ordinary shares. Over the past 28 days, this stake has surged by R44.66 million 2.53 million, boosting his stake above 20 million.
This follows a previous gain of 2.3 million recorded between Sep. 20 and Oct. 1 , during which his holdings surged from R332.23 million 19.27 to R371.42 million 21.55 million.
Balwin Properties stock gains boost Stephen Brookes wealthFounded in 1996, Balwin Properties, known for its large-scale estates catering to South Africas low-to-middle-income population, prides itself on providing affordable and environmentally efficient apartments with innovative lifestyle offerings for residents.
In recent times, the companys shares on the JSE have increased from R2.08 0.12 on Oct. 3 to R2.34 0.13, representing a 12.5-percent loss for shareholders, boosting its market cap above 65 million and delivering strong returns for shareholders, including Brookes.
