South African Media Tycoon, Terrence Moolman Gains $5.61M Boost To His Fortune

Terrence Moolman, a South African media magnate, has added millions to his vast fortune, cementing his position as one of Africa’s leading media entrepreneurs. This is related to the recent increase in the market value of his shares in Caxton & CTP Publishers Limited.

Moolman’s position in Caxton & CTP Publishers Limited has increased by R102.44 million ($5.61 million) in the last 47 days, following a 5.6% increase in the publisher’s share price on the Johannesburg Stock Exchange.

Caxton, founded in 1980 by Moolman and Noel Coburn, has grown to become South Africa’s premier publisher, printer, and packaging producer. The organization oversees 88 newspapers and 15 periodicals and provides a variety of printing and packaging options.

Caxton’s JSE share price has increased from R9.8 ($0.53) to R10.35 ($0.54) since April 3, resulting in a market capitalization of almost $200 million. This expansion has resulted in significant returns for Moolman and other stockholders.

As Caxton’s CEO and co-founder, Moolman owns 51.84 percent of the firm, or 186,262,725 shares. The recent 5.6% gain in Caxton shares increased Moolman’s investment by R102.44 million ($5.61 million), bringing its value up from R1.83 billion ($99.99 million) to R1.93 billion ($105.6 million).

Moolman is a major player in the Southern African media industry, with a substantial impact on the country’s publishing and print sectors. His leadership continues to mold Caxton’s future and position it as a leading force in the industry.

However, not every news is good for Caxton. The company’s shares have decreased by over 6% since the beginning of the year, ranking 290th on the JSE in terms of year-to-date performance. An initial investment of $100,000 at the beginning of the year is now worth $93,460, a loss of $6,540.

Caxton’s financials for the first half of the 2024 fiscal year show issues, including a 3.3% decrease in sales to R3.7 billion ($202.6 million) and a 30.8 percent decrease in profit from R404.82 million ($22.12 million) to R280.18 million ($15.34 million). Investors looking for higher returns on the JSE may want to investigate alternative choices.

 

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