Italtiles stock rally added 18.22 million to Giovanni Ravazzottis wealth, lifting his holding to nearly 420 million as of June 23.
Shares rose from R9.70 to R10.14 between June 1923, pushing market capitalization above 740 million amid renewed investor demand.
Despite the rebound, Italtile shares remain down 28.29 in 2025 a 100,000 investment would now be worth roughly 71,710.
South African businessman Giovanni Ravazzotti, the founder and chairman of Italtile Limited, has recorded a significant rebound in his net worth. The surge comes after a recent rally in the share price of Italtile, a leading retailer of premium ceramic and porcelain tiles listed on the Johannesburg Stock Exchange JSE.
Ravazzotti recovers 18 million in four daysRavazzotti, who holds a 56.46-percent stake in the company, comprising over 746 million shares, has seen the value of his holding jump from R7.24 billion 401.74 million on June 19 to R7.57 billion 419.97 million as of June 23. This represents a gain of R328.35 million 18.22 million in just four trading days.
This gain marks a significant recovery for Ravazzotti, whose wealth had recently taken a hit. Between May 7 and May 22, his stakes value dropped from 448.56 million to 414.95 million, a loss of 33.61 million, amid a downturn in Italtile shares.
Market rebound follows previous downturnFounded in 1969 by Giovanni Ravazzotti after his move from Italy to Johannesburg, Italtile has established itself as a leading force in South Africas home and construction sector. Its well-known brandsItaltile Retail, CTM, TopT, and U-Lightoffer a range of products including tiles, bathroom fittings, and lighting solutions.
Italtiles stock has gained 4.54 percent, rising from R9.70 0.538 on June 19 to R10.14 0.563 per share. The surge has propelled the companys market capitalization above 740 million, supported by strong demand from local and international investors.