South African billionaire Michiel Le Roux loses $422 million on Capitec Bank stake

South African billionaire Michiel Le Roux has seen the value of his stake in Capitec Bank take a significant hit over the past 28 days, following a drop in the bank’s share price on the Johannesburg Stock Exchange (JSE).

Le Roux, who owns an 11.34% stake in Capitec, equivalent to 13.19 million shares, has seen the value of his holdings drop by $422.23 million since peaking on Feb. 18 at R4,788.22 ($284.01). The decline has trimmed his stake’s market value to $3.31 billion, as the lender grapples with broader market pressures.

The drop marks a shift from the gains Le Roux saw in Feb. 18 2026, when the value of his Capitec stake climbed above $3.7 billion. The recent downturn, however, reflects a combination of profit-taking and the broader market volatility that is affecting shareholders across the board.

Capitec Bank has been navigating challenges over the past 28 days
Capitec Bank, co-founded by Michiel Le Roux alongside Jannie Mouton and Riaan Stassen, has established itself as one of the world’s leading retail banking brands over the past two decades. The bank boasts a network of more than 850 branches and 7,400 ATMs across South Africa.

Over the past 28 days, Capitec Bank’s shares on the JSE have dropped by 11.32%, falling from R4,788.22 ($284.01) on Feb. 18 to R4,246.07 ($251.85). This decline has reduced the bank’s market value to R488 billion ($28.96 billion), causing notable losses for shareholders, including Le Roux.

Capitec shares slide amid market volatility
The drop has hit Le Roux hard, with his stake in Capitec losing R7.14 billion ($422.23 million) in value over the past 28 days. His stake fell from R63 billion ($3.73 billion) on Feb. 18 to R55.9 billion ($3.31 billion), equivalent to losses exceeding $15 million per day, as it mirrors the broader pressure on the bank’s shares.

Capitec remains a key player in South Africa’s retail banking sector and is eyeing global expansion. While market volatility poses risks, the bank’s solid foundation, widespread branch network, and focus on improving regulatory compliance could help it weather these challenges and position itself for sustainable growth in an increasingly competitive financial environment.