South African billionaire Michiel le Roux has seen a major boost to his fortune, with the value of his stake in Capitec Bank climbing by nearly $300 million. The surge follows a strong rise in the share price of the retail banking giant on the Johannesburg Stock Exchange (JSE).
Le Roux, who previously served as CEO and chairman of Capitec, owns 13,193,193 shares in the bank—representing an 11.36 percent stake. In just under two weeks, the value of that stake has jumped by R5.59 billion ($296.42 million), pushing his total holding back above $2.1 billion and reinforcing his position as one of the richest investors on the JSE.
This fresh increase comes on top of an earlier gain of $166.76 million between Mar. 11 and 23, which had already lifted the value of his stake to R41.96 billion ($2.30 billion). With Capitec shares continuing to perform well, Le Roux remains one of the biggest winners from the bank’s strong run on the market.
Capitec stock rally lifts market cap above $19 billion
Capitec Bank, co-founded by Michiel le Roux alongside Jannie Mouton and Riaan Stassen, has grown into one of South Africa’s most recognized banking brands. With over 850 branches and 7,400 ATMs nationwide, it continues to hold a firm grip on the country’s retail banking market.
In the past two weeks, the bank’s share price has surged by more than 15 percent on the Johannesburg Stock Exchange. Shares rose from R2,680.7 ($142.25) on Apr. 4 to R3,104.09 ($164.72), boosting Capitec’s market capitalization beyond the $19 billion mark. This rally has delivered strong returns for investors—especially for Le Roux, who remains one of the bank’s largest shareholders.
Michiel le Roux’s wealth rises with Capitec’s climb
Thanks to the recent surge, Le Roux’s stake in Capitec has climbed by R5.59 billion ($296.42 million) in just two weeks, growing from R35.37 billion ($1.88 billion) to R40.95 billion ($2.17 billion), reinforcing his position as one of South Africa’s wealthiest businessmen and a major player on the JSE.
With his stake in Capitec now worth more than $2.1 billion, Le Roux remains one of the most influential figures in the local banking scene. His growing fortune highlights just how much value Capitec has delivered to long-term backers.
Capitec’s year-to-date dip still modest
Despite the recent rally, Capitec shares are still down 0.97 percent since January. The modest dip reflects broader market jitters and ongoing global economic uncertainty. A $100,000 investment in Capitec Bank at the start of 2025 would now be worth around $99,030—a small paper loss of $970.
Source: Billionaires Africa / Digpu NewsTex