South African billionaire Michiel le Roux’s Capitec Bank stake nears $2.5 billion

Key Points

• Michiel le Roux’s stake in Capitec Bank nears $2.5 billion, climbing by $247.25 million in 22 days, driven by a strong rally in the bank’s stock.
• Capitec Bank’s profit after tax jumped 30.1% to $742.5 million, boosting its market value close to $22 billion.
• Capitec shares have risen 11.06% since April 17, reinforcing Le Roux’s standing among Africa’s richest investors.

South African billionaire Michiel le Roux is enjoying a fresh boost to his fortune, thanks to a strong rally in Capitec Bank’s share price on the Johannesburg Stock Exchange. The surge has lifted the value of his stake close to $2.5 billion, further cementing his place among the country’s wealthiest investors.

Le Roux’s Capitec Bank stake nears $2.5 billion

Le Roux, who founded Capitec and once served as its CEO and chairman, owns 13,193,193 shares in the retail bank — giving him an 11.36 percent stake. Over the past 22 days, the value of his shares has jumped by R4.51 billion ($247.25 million), bringing his stake’s total value closer to the $2.5 billion mark.

This follows strong gains earlier in April, when his stake increased by $296.42 million. At that time, the value of his shares grew from $1.88 billion to $2.17 billion. Together, these gains reflect not just Capitec’s strong run on the market but also Le Roux’s lasting footprint in South Africa’s financial landscape.

Capitec profit surges, shares advance

Capitec Bank’s success is no accident. The bank, which Le Roux co-founded with Jannie Mouton and Riaan Stassen, has grown into one of South Africa’s most trusted banking brands. With more than 850 branches and 7,400 ATMs across the country, it has built a loyal customer base and a strong grip on the retail banking market.

The retail bank’s latest results have given investors even more reason to cheer. For the fiscal year ending February 2025, Capitec posted a 30.1 percent jump in profit after tax, reaching $742.5 million. Solid interest income, a major push into digital banking, and the growth of services like Capitec Connect helped drive those numbers higher.

These record results sent Capitec’s share price soaring. Between April 17 and early May, the stock climbed 11.06 percent, from R3,092.12 ($169.48) to R3,434.03 ($188.22), lifting the bank’s market value closer to the $22 billion mark, thus making it Africa’s most valuable lender. Shareholders have been handsomely rewarded, and few more so than Le Roux, who remains one of Capitec’s largest investors.

Michiel le Roux’s fortune swells on Capitec rally

Thanks to the latest surge, the value of Michiel le Roux’s stake has jumped by R5.59 billion ($296.42 million) in just two weeks, rising from R40.79 billion ($2.24 billion) to R45.31 billion ($2.48 billion).

The sharp gain not only reinforces his position s as one of South Africa’s top businessmen but also secures his place among Africa’s wealthiest individuals, currently ranking him 12th on the continent’s rich list.

The recent rally has also highlighted Capitec’s growing reputation as a stock market standout. So far this year, Capitec shares have increased by 9.56 percent. A $100,000 investment in the retail bank’s shares at the beginning of 2025 would now be worth about $109,560, a gain of $9,560 on paper.