South African media mogul Terrence Moolman loses $7 million from Caxton shares

Key Points

• Terrence Moolman’s stake in Caxton has fallen by $7.06 million over the past 65 days as shares dropped 5.35% on the JSE.
• Caxton stock is down 2.95% year-to-date, cutting a $100,000 investment at the start of the year to roughly $97,050.
• Gains from February, which had briefly lifted Moolman’s stake by $4.06 million, have now been wiped out.

South African media mogul Terrence Moolman has taken a noticeable knock to his wealth, as shares of Caxton & CTP Publishers and Printers Limited (JSE: CAT) continue to lose ground on the Johannesburg Stock Exchange (JSE).

Moolman, the CEO and co-founder of Caxton, holds a 52.48 percent stake—equivalent to 187.91 million shares. Over the past 65 trading days, the value of his stake has dropped by R125.9 million ($7.06 million), bringing it down to $124.85 million, according to market data.

Back in February, things looked more upbeat. Caxton shares had briefly climbed to R12.52, pushing the value of Moolman’s stake up by $4.06 million in just under a week. But that gain has now been erased, showing how quickly market sentiment can shift in the media space.

Investors take a step back as sector challenges mount

Caxton, founded by Moolman and business partner Noel Coburn, has long been a major player in South Africa’s media and packaging scene. The company runs 88 local newspapers and 15 magazines, along with a sizable commercial printing and packaging operation.

But recent months have been rough. Investor interest in legacy media stocks has waned, and broader market signals haven’t helped. Caxton shares are down 5.35 percent since March 20, falling from R12.52 ($0.7020) to R11.85 ($0.6644), wiping tens of millions off the company’s total market value, which now sits below $240 million.

As a result, the value of Moolman’s 52.48 percent stake has dropped from R2.35 billion ($131.91 million) to R2.23 billion ($124.85 million). The decline is a clear sign of the pressure facing media firms as they navigate digital disruption and a tougher economy.

Year-to-date losses highlight market anxiety

Since the beginning of 2025, Caxton’s stock has slipped by 2.95 percent. That might sound small, but for investors, it adds up. A R1.8 million ($100,000) investment in Caxton shares on January 1 would now be worth R1.75 million ($97,050), trimming roughly $2,950 in value.

Despite Caxton’s strong foundation, falling shares and market uncertainty are fueling investor caution, with Moolman’s recent loss reflecting broader concerns in the media sector.