South Africa’s Giovanni Ravazzotti sees Italtile stake slip below $400 million

Key Points

• Giovanni Ravazzotti’s stake in Italtile falls below $400 million as sustained pressure on the Johannesburg Stock Exchange weighs on shares.
• Ravazzotti loses $26.47 million in four weeks as Italtile’s stock plunges 6.36 percent amid weak demand and rising crime in South Africa.
• Italtile’s market value drops below $700 million, with shares down 31.33 percent in 2025, reflecting deepening economic challenges.

South African businessman Giovanni Ravazzotti, founder and chairman of Italtile Limited, has taken another hit as the value of his stake in the bathroom and home products retailer falls below the $400 million mark. The latest drop comes amid a sustained slump on the Johannesburg Stock Exchange (JSE) and growing concerns among investors about the company’s outlook.

Ravazzotti loses $26.47 million in four weeks

Ravazzotti, who holds a controlling 56.46-percent stake, equivalent to 746.24 million shares, has seen his holdings decline by R492.52 million ($26.47 million) over the past four weeks alone. At the time of writing, his stake is worth around $389.36 million, down sharply from early April. This fresh setback extends a rough stretch for Ravazzotti, whose fortune had already taken a heavy blow earlier in the year.

Between Feb. 6 and Apr. 3, the value of his stake fell by $83.47 million, slipping from R9.25 billion ($492.86 million) to R7.69 billion ($409.39 million). The latest decline deepens those earlier losses and highlights the mounting pressure facing both Ravazzotti and Italtile as economic headwinds gather.

Italtile battles rising crime pressures in South Africa

Founded by Ravazzotti in 1969, Italtile has built a strong presence in South Africa’s home improvement and construction market, with popular brands like Italtile Retail, CTM, TopT, and U-Light under its belt.

In the past month alone, Italtile’s share price has fallen 6.36 percent, slipping from R10.37 ($0.5572) on April 3 to R9.71 ($0.5218). The drop has pushed the company’s market value below the $700 million mark, wiping out shareholder gains and sparking fresh concerns about its future.

Italtile’s troubles reflect broader challenges in South Africa’s economy. Since the start of the year, the company’s shares have been weighed down by weakening consumer demand, tough economic conditions, and rising crime, which has disrupted retail operations across the country. As shoppers pull back and crime hits store operations, investors have grown wary, fueling a steady selloff in Italtile’s stock.

Italtile shares drop, Ravazzotti’s stake falls

With Italtile’s share price still under pressure, Giovanni Ravazzotti’s stake has lost another R492.52 million ($26.47 million) in value over the past month, falling from R7.74 billion ($415.82 million) on April 3 to R7.23 billion ($389.36 million) at the time of writing. Even with the latest hit, Ravazzotti remains one of South Africa’s wealthiest individuals and a key figure in the country’s retail and manufacturing sectors.

The numbers paint a tough picture for investors. So far this year, Italtile’s shares have dropped 31.33 percent. A $100,000 investment at the start of 2025 would now be worth just $68,670—a loss of $31,330. Still, despite the sharp decline, Italtile remains one of the more valuable companies on the JSE, and shareholders are hoping the coming months will bring some much-needed stability.