South African billionaire Michiel Le Roux gains $166.76 million as Capitec shares climb

Key Points

• Michiel le Roux’s Capitec holdings jumped by R3.04 billion ($166.76 million) in 12 days, pushing his total stake above $2.3 billion.
• Capitec’s shares gained 7.81% in 12 days, lifting its market value above $20 billion and delivering strong returns for investors.
• The bank’s stock has risen 1.48% year-to-date, with a $100,000 investment now worth $101,480 despite market volatility.

South African billionaire Michiel le Roux has seen his stake in Capitec Bank soar in value, thanks to a strong rally in the financial services company’s share price on the Johannesburg Stock Exchange (JSE).

Le Roux, a former CEO and Chairman of Capitec, holds an 11.36 percent stake—equivalent to 13,193,193 shares—in the bank. Over the past 12 days, the value of his holdings has jumped by R3.04 billion ($166.76 million), pushing his total stake above $2.3 billion.

This latest increase builds on an earlier gain of $185 million between Jan. 28 and Feb. 10, when his stake climbed from R38.39 billion ($2.08 billion) to R41.8 billion ($2.27 billion). The bank’s continued growth has rewarded investors, with Le Roux among the biggest beneficiaries.

Capitec’s strong performance fuels investor confidence

Capitec Bank, which Le Roux co-founded with Jannie Mouton and Riaan Stassen, has grown into one of the world’s leading retail banking brands. With more than 850 branches and 7,400 ATMs across South Africa, it remains a dominant player in the country’s financial sector.

Over the past 12 days, Capitec’s stock has risen 7.81 percent, reflecting strong investor confidence. Shares climbed from R2,950.46 ($161.95) on March 11 to R3,134.34 ($174.59), pushing the bank’s market value above $20 billion. This surge has delivered gains for shareholders, including Le Roux.

Le Roux’s wealth climbs as Capitec strengthens its market position

The sharp rise in Capitec’s stock price has added another R3.04 billion ($166.76 million) to Le Roux’s holdings, bringing their value to R41.96 billion ($2.30 billion) as of March 23. The increase further cements his position among the wealthiest investors on the JSE.

This highlights Capitec’s ability to generate value for shareholders. As the bank continues expanding and delivering strong returns, investors—including Le Roux—stand to benefit from its sustained growth. With confidence in the bank remaining high, its future performance will be closely watched.

A look at returns for everyday investors

Capitec’s shares, among the best-performing on the JSE, have delivered a modest 1.48 percent gain since the start of the year, despite broader market volatility. A $100,000 investment at the beginning of 2024 would now be worth $101,480—an increase of $1,480. As Capitec continues its upward trajectory, investors remain optimistic about its long-term potential.