South African billionaire Koos Bekker loses $400 million in two months

South African billionaire Koos Bekker, one of the founders of M-Net and its sister company Multichoice, has seen his net worth drop by $400 million over the past two months as the value of his investment portfolio slipped. Bekker, 73, is chairman of Naspers, Africa’s largest consumer internet and technology company, and its Amsterdam-based unit Prosus.

According to Forbes, his net worth fell from $4 billion on Jan. 14 to $3.6 billion, costing him a spot among the world’s top 1,000 richest individuals. He also fell behind South African mining magnate Patrice Motsepe, whose fortune dropped from $4.4 billion to $3.7 billion.

Naspers, Prosus shares drop 13 percent

The decline tracks recent losses in the market value of Bekker’s stakes in Naspers and Prosus. He owns 0.93 percent of Naspers, roughly 1.69 million shares, and 0.76 percent of Prosus, about 19.65 million shares. Since January, Naspers and Prosus shares have fallen more than 13 percent, reducing their market caps to under $45 billion and $130 billion, respectively, and directly affecting Bekker’s holdings.

Investors have reacted to multiple pressures, including uncertainty stemming from the conflict in Iran. Market turbulence has prompted a shift toward safer assets, pulling down shares in companies seen as sensitive to energy shocks. At the same time, global attention on AI has led investors to favor high-profile U.S. tech companies, leaving other tech stocks vulnerable.

Pressure also came from China, where Naspers and Prosus hold a 24.6 percent stake in Tencent Holdings. Investor concerns over Tencent’s cautious approach to AI development—compared with heavy AI investments by Alibaba and ByteDance—have weighed on the stock. Tencent’s AI tools, including Yuanbao, have far fewer daily users than ByteDance’s Doubao or Alibaba’s Qwen, reflecting investor hesitation.

Bekker’s investments span media, tech, hospitality

Koos Bekker’s career spans print media, global tech investing, and luxury hospitality. His MBA project, with a few young colleagues, at Columbia Business School in 1984 helped lay the foundation for M-Net and Multichoice, and he was a founding director of MTN in the 1990s. He famously backed Tencent in 2001, when Naspers invested $34 million in the then-small Chinese internet company, which is now valued at over $550 billion.

In December, Bekker sold nearly R2.5 billion ($150.3 million) in shares through his family trust to fund hospitality projects in South Africa, the U.K., and Italy. Naspers reported he sold just under 800,000 shares for R860.5 million ($51.7 million), and disposed of 1.55 million Prosus shares at €51.24 ($60.37) to €53.68 ($63.23).

Bekker and his wife, Karen Roos, have developed a growing hospitality portfolio. They own Babylonstoren, a historic wine estate in South Africa’s Cape Winelands, The Newt in Somerset, and Vignamaggio near Florence. In February 2024, they opened Blou, a small beachside retreat near Plettenberg Bay. Their properties have hosted guests worldwide and sponsored events like the Chelsea Flower Show, highlighting Bekker’s focus beyond media and technology.