Capitec rally pushes Michiel Le Roux stake to $3 billion

South African billionaire Michiel Le Roux has seen the market value of his stake in Capitec Bank reach $3 billion, following a recent rally in the bank’s share price on the Johannesburg Stock Exchange, highlighting renewed investor confidence in Africa’s most valuable retail banks.

Michiel Le Roux's Capitec Bank stake hits $3 billion

Le Roux, a former chief executive and chairman of Capitec, owns 13.19 million shares, representing an 11.36 percent stake. The market value of his shares rose from R45.21 billion ($2.61 billion) on Oct. 2 to R52.11 billion ($3 billion).

This latest increase builds on gains Le Roux recorded earlier this year. Between Sept. 4 and Sept. 22, the value of his stake climbed by $87 million, rising from R44.9 billion ($2.59 billion) to R46.75 billion ($2.7 billion). Investors in Capitec have benefited from this steady advance, with Le Roux among the largest recipients of the rising share price.

Stock gains lift Capitec Bank’s market cap above $24 billion

Le Roux co-founded Capitec Bank alongside Jannie Mouton and Riaan Stassen. Since 2001,  Capitec has grown from a small lender to one of Africa’s leading financial services providers.

According to the retail bank’s latest annual report, profit after tax rose by 19.62 percent—from R4.69 billion ($272.5 million) in H1 2025 to R5.6 billion ($326 million) in H1 2026. The jump highlights how Capitec has continued to grow its business while keeping costs in check.

Over the past 18 days, Capitec shares have climbed over 4 percent, rising from R3,402.95 ($196.51) on Sept. 4 to R3,543.85 ($204.65). The increase lifted the bank’s market capitalization above $24 billion, solidifying its position as the country’s largest retail bank.

Forbes values Le Roux at $2.9 billion

Shareholders have benefited from the stock’s increase. A $100,000 investment in Capitec shares at the start of the year would now be worth about $126,000. Le Roux, holding a significant stake, has seen his wealth rise with the bank’s performance. Forbes estimates his net worth at $2.9 billion.