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Key Points
- 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.
- Capitec’s market cap nears $20 billion, rewarding shareholders with steady gains despite early-year volatility.
South African billionaire Michiel le Roux’s 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 bank’s share price on the Johannesburg Stock Exchange (JSE).
Le Roux, who owns an 11.36 percent stake in Capitec—equivalent to 13,193,193 shares—has 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 Roux’s wealth
Capitec Bank, co-founded by Michiel le Roux alongside Jannie Mouton and Riaan Stassen, has grown into one of the world’s 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 country’s financial sector.
Lately, investors have shown renewed confidence in Capitec, pushing its stock up 8.88 percent on the JSE—from R2,909.50 ($157.84) on Jan. 27 to R3,168.00 ($171.87). This surge has lifted the bank’s 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.
Your Money and Your Life
Capitec Bank shares have edged up 1.07 percent since Jan. 1, despite an early dip in January. A $100,000 investment at the start of the year would now be worth $101,070, reflecting a modest gain of $1,070. While the increase is measured, investors remain confident in the bank’s long-term potential, pointing to its resilience and strong footing in the financial sector.
