
Giovanni Ravazzotti’s Italtile shutters stores as crime surges in South Africa
It has urged the government to take action, saying that crime has not only affected its operations but also increased costs related to security.
It has urged the government to take action, saying that crime has not only affected its operations but also increased costs related to security.
This adds to an earlier loss of $46.83 million between Jan. 1 and 13, when his stake in Italtile dropped from $551.82 million to $504.99 million.
This decline comes on the heel of a nearly 30 percent gain experienced in 2024 which added $24.82 million to his stake.
Despite market volatility, Italtile’s stock has shown resilience this year, consistently delivering value to investors.
Italtile’s market surge boosts Ravazzotti’s net worth by $24.82 million in just 15 days.
As the leading shareholder with a 56.46 percent stake, Ravazzotti owns 746,244,490 shares in Italtile.
Ravazzotti’s stake in Italtile nears $330 million thanks to a $21.9-million gain in 14 days.
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.
The recent rise in Italtile’s share price strengthens Giovanni Ravazzotti’s position as a major investor on the JSE.
As a result of the recent share price decline, Ravazzotti, who founded Italtile in 1969 and owns a 33.88-percent stake (447,746,694 shares).
This follows a previous R227.73 million ($16.8 million) loss between March 28 and April 7, when his stake dipped from R4.57 billion ($244.51 million) to R4.25 billion.
Despite the loss, Ravazzotti retains his position as one of the wealthiest investors on the JSE and one of South Africa’s most prosperous businessmen.