South African tycoon Jens Montanana’s stake in Datatec falls by $3.9 million

by MMC
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Jens Montanana, South African tycoon and visionary founder of multinational technology group Datatec, has experienced a significant decline in the market value of his stake in the Johannesburg-based company.

According to data tracked by Billionaires.AfricaMontanana’s stake in Datatec has fallen by R73.53 million ($3.9 million) over the past eight days, due to a recent decline in the company’s share price, marking a slowdown compared to previous earnings.

The tech mogul had recently announced impressive earnings, raking in $2 million in just 24 days between August 1 and 25.

Datatec is a South Africa-based company that provides ICT solutions and services, including software and cloud computing solutions such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS).

Montanana, renowned for his leadership and contributions to the technology industry, founded Datatec in 1986 and currently holds a 14.06% stake, equivalent to 31,832,429 ordinary shares in the South African technology company.

Under his leadership, Datatec has expanded to more than 50 countries across North America, Latin America, Europe, Africa, the Middle East and Asia Pacific.

Since September 6, company shares fell by more than six percent from 37.71 rand ($1.995) to 35.40 rand ($1.874) at the time of writing.

Due to the falling share price, Montanana’s stakes in Datatec declined significantly, losing 73.53 million rand ($3.9 million) in eight days and bringing the market value down by 1. 2 billion rand ($63.48 million) to 1.13 billion rand ($59.6 million) at the time of writing.

Despite this setback, Datatec remains a formidable force in the global technology sector.

Montanana firmly maintains his position as one of the wealthiest investors on the Johannesburg Stock Exchange, largely due to his substantial stake in the company.

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