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South African billionaire Michiel Le Roux, the founder of Capitec Bank, has seen his wealth climb by about $87 million in September after a rally in the lender’s share price on the Johannesburg Stock Exchange (JSE).
Le Roux’s Capitec Bank stake hits $2.7 billion
Le Roux, who previously served as Capitec’s chief executive and chairman, owns 13.19 million shares in the bank, representing an 11.36 percent stake. By Sept. 22, the value of his holding had risen to R46.75 billion ($2.7 billion), up from R44.9 billion ($2.59 billion) earlier this month.
The latest increase adds to gains he recorded earlier this year. Between April 17 and May 9, the value of his shares grew by $296.42 million, moving from R40.79 billion ($2.24 billion) to R45.31 billion ($2.48 billion). For investors, the steady climb in Capitec stock has been rewarding, and Le Roux remains one of the largest beneficiaries.
Founder’s fortune rises with Capitec Bank rally
Le Roux co-founded Capitec Bank with Jannie Mouton and Riaan Stassen. The retail banking giant has grown from a tiny player to one of South Africa's biggest banking conglomerates. The bank has become the leader in the country's retail sector by offering simple, low-cost banking services. It has more than 850 locations and 7,400 ATMs around the country.
Capitec’s market performance underscores that growth. In the past 18 days, its shares have risen more than 4 percent, climbing from R3,402.95 ($196.51) on Sept. 4 to R3,543.85 ($204.65). The surge lifted its market capitalization above $24 billion, cementing its position as Africa’s second most valuable banking group. So far this year, the stock has gained more than 13 percent.
Strong market performance
For shareholders, that momentum has translated into real money. A $100,000 investment at the start of 2025 would now be worth about $113,070. For Le Roux, who continues to hold a significant stake the rise adds to an already considerable fortune shaped by one of South Africa’s most prominent financial success stories.
