Gerrie Fourie, a South African banking executive, has seen the market value of his stock in Capitec Bank climb significantly as the share price of the top retail bank on the Johannesburg Stock Exchange (JSE) has risen steadily over time.
Over the last 24 days, Fourie’s position in Capitec Bank has increased by R148.65 million ($8.11 million). This builds on gains made between May 31 and June 21, when the market value of his stake climbed by R490.61 million ($27 million), from R2.19 billion ($122.12 million) to R2.67 billion ($149.10 million).
Capitec Bank, founded 23 years ago by South African millionaire Michiel Le Roux, along with notable businesspeople Jannie Mouton and Riaan Stassen, has developed to become a significant retail bank. It provides a variety of services, including transactional banking and financial products such term loans, credit facilities, and credit cards.
Capitec Bank’s shares have recently increased significantly, jumping 5.71 percent from R2,535 ($138.3) on June 27 to R2,679.65 ($146.2). This gain has raised the retail bank’s market capitalization to around $17 billion.
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.
Fourie’s holding in Capitec Bank has climbed by R148.65 million ($8.11 million) in the last 24 days, from R2.61 billion ($142.17 million) on June 27 to R2.75 billion ($150.28 million).
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.
Capitec Bank continues to provide exceptional returns for its investors, with a year-to-date return of 35.9 percent. A $100,000 investment made at the start of the year would now be worth $135,900, representing a $35,900 return.
