
South African billionaire Rob Hersov to launch media empire
The entrepreneur aims to launch a platform like ‘The Daily Wire’ for South Africa, expanding his influence in media and politics.
The entrepreneur aims to launch a platform like ‘The Daily Wire’ for South Africa, expanding his influence in media and politics.
The recent dip means Oppenheimer has lost $250 million year-to-date, reversing the $550 million gain recorded just 38 days ago.
The deal will add 462 stores across South Africa, Botswana, Lesotho, Namibia, and Eswatini to Pepkor’s expanding retail network, strengthening its position in the adultwear market.
The boost in Mouton’s wealth is largely attributed to Capitec Bank, where he holds a 5.1 percent stake through the J.F. Mouton Familietrust.
This latest increase builds on an earlier gain of $185 million between Jan. 28 and Feb. 10, when his stake climbed from $2.08 billion to $2.27 billion.
This decline follows a steeper loss earlier this year, when his stake dropped by $817.53 million between Jan. 24 and Feb. 23.
The move is aimed at consolidating control, unlocking shareholder value, and streamlining operations.
This follows a strong start to the year, when his net worth surged by $3.32 billion, rising from $13.7 billion to $17 billion by early March.
His leadership has reshaped CAF’s financial outlook, attracting record sponsorship deals and boosting revenue streams.
Motsepe’s net worth surged to $3 billion for the first time since August 2024, marking a significant recovery.
The company, which has been expanding into renewable energy, is weighing whether to hold or offload its 11.8 percent stake in Harmony, South Africa’s largest gold miner.
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
The decline reflects growing pressure on retail stocks in South Africa, as investor sentiment shifts on the Johannesburg Stock Exchange.
The company’s headline earnings fell 49 percent to R1.52 billion ($83.43 million), down from R2.96 billion ($162.2 million) a year earlier.
Harmony Gold posted $1.98 billion in H1 revenue, driven by surging gold prices, cost control, and a record dividend, despite a slight dip in production.
The payout reflects the company’s commitment to rewarding shareholders while navigating economic pressures.