South African tycoon Jonathan Jawno suffers $6.3-million loss in 58 days

South African multimillionaire businessman Jonathan Jawno has experienced a substantial decrease of over $6 million in his net worth due to the decline in the market value of his stake in Transaction Capital, a Johannesburg-based financial services group.

According to data tracked by Billionaires.Africa, Jawno, a prominent figure in the country’s business landscape, has seen the market value of his stake in Transaction Capital decline by a staggering R119.17 million ($6.34 million) over the past 58 days.

Transaction Capital is a prominent South African financial services group that specializes in asset-backed lending and niche risk services. The company is a non-deposit financial services entity operating in South Africa and Australia.

As a founding member of Transaction Capital, Jawno holds a significant 9.59-percent stake in the investment holding. The sizeable stake consists of 72,667,000 shares, making Jawno the second-largest shareholder in the group, trailing Public Investment Corporation, Africa’s largest fund manager.

The share price of Transaction Capital has decreased by 28.03-percent over the past 58 days, falling from R5.85 ($0.312) on Aug. 2 to R4.21 ($0.224) at the time of writing this report, as investors continue to offload their shares in the company.

As a result of Transaction Capital’s share price wipeout, the market value of Jawno’s stake in the Johannesburg-based financial services group has seen a sharp decline of R119.17 million ($6.34 million), falling from R425.1 million ($22.63 million) on Aug. 2 to R305.93 million ($16.29 million) at the time of writing this report.