Michiel le Roux
- Net worth $4 billion
- Status -
- Country South Africa
- Source(-s) of wealth Businessman, Entrepreneur
How much is Michiel le Roux Worth? Michiel le Roux Net Worth in 2026
Michiel le Roux’s net worth is estimated at $4.0 billion as of November 2026. The Capitec co-founder owns 13,164,393 shares in the bank, about 11.4 percent, and that one holding was worth R65.6 billion at the November 10 close. Capitec pays him roughly R1.05 billion a year in dividends before tax, yet in July 2026 he still chose to borrow against shares worth R6.56 billion rather than sell any.
| Net worth | $4.0 billion (our estimate, range $3.5 billion to $4.4 billion) |
|---|---|
| Estimated annual income | About $63 million in Capitec dividends before tax |
| Age | 77 |
| Country | South Africa |
| Known for | Co-founder, first CEO and former chairman of Capitec Bank |
| Main income sources | Capitec shares and dividends, family investment companies |
How much is Michiel le Roux worth in 2026?
We estimate $4.0 billion. The heart of it is a listed stake, priced at R4,983.19 on the Johannesburg Stock Exchange on November 10, 2026 and converted at R16.58 to the dollar, that day’s mid-market rate. The harder part is the borrowing his investment companies have done against the shares, and what they did with the money. We net those two off, as explained below, and give a range for the uncertainty.
How we got to $4.0 billion
| Source | Our estimate | What it rests on |
|---|---|---|
| Capitec shares | $3.96 billion | 13,164,393 shares at R4,983.19 is R65.6 billion. |
| Borrowing against Capitec shares | minus $396 million | Our upper bound: the July 2026 Kalander Sekuriteit deal covers 1,374,356 shares worth R6.56 billion at the time. The loan amount was not disclosed and cannot exceed the put strike times those shares, which is below their market value. |
| Family investment companies, including the Stormers stake | $396 million | Our assumption: the borrowed money sits in his private holdings. The family raised its share of the Stormers rugby business to 71.5 percent in 2026. No values are published, so we set this row equal to the loan row. |
| Total | $4.0 billion | $3.96 billion before rounding. Dividends received over the years are assumed spent, taxed or already inside the private holdings. |
Borrowing instead of selling
On July 7, 2026 Capitec published a filing showing that Kalander Sekuriteit, one of his investment vehicles, had cash-settled an older hedging deal from May 2023 and replaced it with a new one over 1,374,356 shares, BusinessDay reported. The counterparty lends to Kalander for the life of the deal, and the bank said his maximum obligation can never exceed the hedged shares times the put strike. Nothing was sold. The R6.56 billion was the value of the hedged shares; the loan amount was not published, although one report described the full sum as borrowed.
It is a habit. Billionaires.Africa listed earlier deals: 1.25 million shares hedged through Limietberg Sekuriteit in December 2018, 672,220 shares refinanced in June 2025 with a put strike of R2,825.66, and 350,000 shares in a new arrangement in October 2025.
Our calculation: the July 2026 deal covers 10.4 percent of his shares. Those 1,374,356 shares were worth R6.85 billion on November 10, up from R6.56 billion when the deal was signed, and the loan against them is capped below their value by the put strike. Selling the same shares would have cut his stake in a bank that is still growing. Borrowing kept every share in his name.
A liquor company man who built a bank
Before Capitec he ran Boland Bank and worked at Distillers Corporation. He co-founded Capitec in 2001 with Jannie Mouton and Riaan Stassen, was its first chief executive until 2004 and chaired the board from 2007 to 2016. He is now its second-largest shareholder after the Public Investment Corporation. Capitec reached R4,911.71 on November 5, 2026 after a 6.08 percent one-day jump, which made it the most valuable bank on the JSE at about R566 billion.
The dividend has grown with it. Capitec’s total dividend for the year to February 2026 rose 23 percent to R79.80 a share. On his 13.16 million shares that is about R1.05 billion before dividend tax, roughly $63 million, by our math.
Why other estimates disagree
Capitec is a volatile stock, so estimates struck a few weeks apart can differ by hundreds of millions of dollars. Some subtract the share-backed loans and forget the cash they raised; others ignore the loans entirely. A few describe the stake only as more than 10 percent and round down.
What would move the figure
Every R100 move in Capitec’s share price changes his stake by about $79 million. A sharp fall would matter more than usual because of the hedges: below a put strike, the counterparty, not he, absorbs the loss on the pledged shares. The next dividend comes with Capitec’s results for the year to February 2027.
Michiel le Roux net worth FAQ
What is Michiel le Roux’s net worth?
About $4.0 billion as of November 2026 by our estimate, almost all of it his Capitec stake.
How many Capitec shares does Michiel le Roux own?
13,164,393 shares, about 11.4 percent of the bank, held across his investment vehicles.
How much did Michiel le Roux borrow against his Capitec shares?
The amount was not disclosed. The July 2026 refinancing through Kalander Sekuriteit covers 1,374,356 shares worth about R6.56 billion, roughly $396 million, and the loan cannot exceed the put strike times those shares.
How much does Michiel le Roux earn from Capitec dividends?
About R1.05 billion a year before tax, based on the R79.80 per share paid for the year to February 2026.
Who founded Capitec?
Michiel le Roux, Jannie Mouton and Riaan Stassen, in 2001. Le Roux was the first CEO and later chaired the board until 2016.
How is his net worth estimated?
We price his Capitec shares at the November 10, 2026 close, deduct the July 2026 share-backed borrowing and add the same amount back as assumed private holdings funded by it.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.