Zimbabwean Billionaire John Moxon’s Stake in Meikles Now Exceeds $100 Million

John Moxon’s holding in Meikles Limited, a multinational conglomerate based in Harare, has lately risen past $100 million in market value, cementing his status as one of the country’s wealthiest Zimbabwean businessmen.

Moxon, one of the biggest investors on the Zimbabwe Stock Exchange, has seen a significant increase of $18.37 million in the last 22 days as a result of the current boom in Meikles shares.

This follows a $3.91 million drop in Moxon’s stake between Oct. 31 and Nov. 3 from $86.75 million to $82.84 million.

Thomas Moxon founded Meikles Limited in 1894 as a department store chain, and it has since grown into a diverse Harare-based conglomerate with significant holdings in hotels, retail, supermarkets, agricultural, and financial services.

The business has a strong portfolio of top brands under Moxon’s leadership, including the famed Victoria Falls Hotel, TM Supermarkets, Meikles Stores, Meikles Centar Mining, and Tanganda Tea Company. Notably, the agro-allied firm’s shares will be listed independently on the Zimbabwe Stock Exchange in 2022.

Meikles shares on the Zimbabwe Stock Exchange have risen 22.18 percent, jumping from $2.96 on Nov. 3 to $3.62 at the time of writing, taking the company’s market capitalization above $900 million.

Moxon, who was instrumental in converting Meikles Limited into one of Zimbabwe’s major conglomerates, controls 10.8 percent of the company, or 27,933,226 shares.

As a significant shareholder in the Harare-based company, Moxon’s stock has increased in value by $18.37 million in the last 22 days, rising from $82.84 million on Nov. 3 to $101.21 million.

This $18.4 million increase solidifies his status as one of Zimbabwe’s richest businesses and one of the major investors on the Zimbabwe Stock Exchange.

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