Gerrie Fourie, a South African banking executive, has seen the market value of his Capitec Bank investment rise significantly due to a recent surge in the group’s shares on the Johannesburg Stock Exchange (JSE).
According to estimates, Gerrie Fourie’s shareholding in Capitec Bank has increased by about $24 million in the last 72 days, cementing his position as one of South Africa’s top executives.
Capitec Bank, founded twenty 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 such as transactional banking and a variety of loan products such as term loans, credit facilities, and credit cards.
Gerrie Fourie, the retail bank’s CEO, owns a significant 0.89 percent ownership in the company, or 1,027,673 ordinary shares. The shareholding not only positions him as one of the country’s wealthiest bankers, but also among the highest echelons of the country’s wealthiest investors.
Capitec Bank’s share price on the Johannesburg Stock Exchange has recently surged dramatically, rising 32.37 percent from R1350.00 ($71.67) on May 31 to R1787.03 ($94.87) at the time of this article.
Gerrie Fourie’s shareholding in Capitec Bank has increased by R449.12 million ($23.97 million) in the last 72 days, from R1.39 billion ($74.03 million) on May 31 to R1.84 billion ($98 million) on August 11.
This increase solidifies Gerrie Fourie’s status as one of South Africa’s wealthiest executives as well as one of the Johannesburg Stock Exchange’s wealthiest investors.