South African Mogul Gerrie Fourie Profits $5.5M from Capitec Bank Stock Holdings

Gerrie Fourie, a South African banking executive, has seen a significant boost in the market value of his shareholding in Capitec Bank, owing to the lender’s recent share price gain on the Johannesburg Stock Exchange (JSE).

Fourie’s position in Capitec Bank has increased by R102.08 million ($5.48 million) in the last 17 days. This uptrend builds on his prior profits, which saw his investment increase by $8.6 million between January 4 and March 9.

Capitec Bank, founded 20 years 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.

In recent times, its share price on the JSE has risen by 4.84 percent, from R2,054.10 ($110.433) on March 19 to R2,153.43 ($115.725) at the time of writing, bringing its market capitalization above $13 billion and delivering significant gains 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 share price has increased the market value of Fourie’s interest by R102.08 million ($5.48 million), from R2.11 billion ($113.35 million) on March 19 to R2.21 billion ($118.83 million) as of the time of writing.

This gain strengthens Fourie’s status as one of South Africa’s wealthiest executives, as well as among the Johannesburg Stock Exchange’s affluent investors.

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