Gerrie Fourie, a South African banking executive, has seen the market value of his Capitec Bank holding climb significantly as a result of the lender’s recent share price gain on the Johannesburg Stock Exchange (JSE).
Fourie’s stake in Capitec Bank increased by R140.7 million ($7.62 million) in the last 17 days. This reversal follows a previous dip, in which his assets fell by $11.9 million from April 8 and 22, from R2.28 billion ($119.39 million) to R2.06 billion ($107.55 million).
Capitec Bank, founded more than two decades ago by South African billionaire Michiel Le Roux and distinguished businessmen Jannie Mouton and Riaan Stassen, has risen to prominence as a leading retail bank, providing a wide range of services including transactional banking and a variety of loan products such as term loans, credit facilities, and credit cards.
Its share price on the JSE has recently climbed by 6.35 percent, from R2,157.46 ($117.040) on April 24 to R2,294.37 ($124.467) at the time of writing, bringing its market capitalization above $14 billion and providing significant returns to owners.
Gerrie Fourie, Capitec Bank’s CEO, owns a 0.89 percent ownership in the leading retail bank, which is equivalent to 1,027,673 ordinary shares. As a result, he is one of the country’s wealthiest bankers and one of its most successful investors.
The recent increase in Capitec Bank’s stock price has increased the market value of Fourie’s stake by R140.70 million ($7.62 million), from R2.22 billion ($120.14 million) on April 24 to R2.36 billion ($127.76 million) as of this writing.
This increase validates Gerrie Fourie’s standing as one of South Africa’s wealthiest executives, as well as his position among affluent investors on the Johannesburg Stock Exchange.
