Michiel Le Roux (born 24 May 1949) is a South African-born banker, businessman, and billionaire. He founded Capitec Bank and has an 11% stake in the bank, where he worked as CEO until 2004.
Michiel Le Roux Biography
Roux was born on the 24th of May 1949 and is a renowned South African banker who transformed the banking industry in South Africa through his formed Capitec bank, which he started in 2002. Michiel got a Bachelors of Laws (LLB) degree from Stellenbosch University, where he studied. Despite his law degree, Roux never had the intention to practice and so ventured into the banking industry. He first started working with Distillers Corp before managing Boland bank, where he ran for quite a long time before leaving.
Michiel Le Roux started working with Distillers Corp in the mid-1990s and later left to create a new career with the support of his friend Christio Wiese. Roux ran Boland bank for some time before eventually leaving.
Michiel Le Roux, during his career journey, founded the popularly known Capitec bank on March 1st, 2001, and has about an 11% stake in the bank. The bank made its first appearance on the Johannesburg stock exchange(JSE) on February 18, 2002. Capitec bank mainly focuses on providing customers with easy and suitable banking services and encouraging a savings habit. According to results concerning the bank, in 2018, the bank had over 10 million clients over 800 branches with more than 13,000 specialists, and held R19 billion specialties benefit. The bank was rated the best and most economical in South Africa by the solidarity research institute.
Is Capitec Bank Black Owned?
No, it isn’t
How did Michiel le Roux make his money?
He created Capitec Bank in 2001 and owns around 11% of the company. The Johannesburg Stock Exchange-listed bank aims to serve South Africa’s growing middle class. From 2007 until 2016, he was the chairman of Capitec’s board of directors, and he is still on the board.
How much does Capitec CEO earn?
PJ Mouton, the CEO of Capitec makes R93 million.
Michiel Le Roux Age
As of 2022, he is 73 years of age.
Michiel Le Roux is married with children. Even though there is no information on his family, it is said that his son, which is referred to as Michiel Le Roux Day Junior, has also ventured into the business work snd is a creator who recently launched a book named ” The Misfortunes of a COPE Volunteer: My Crash Course in Politics.”
Michael Le Roux has an estimated net worth of $1.9 billion which has seen him become one of the richest men in South Africa.