Naspers boss sitting on company stock goldmine

Naspers CEO Koos Bekker now has 16.4-million shares in the South African media company; worth over R13-billion were he to cash out at the current share value (R780.01 as of Friday 26 July 2013).

Bekker does not take a salary from Naspers and is instead paid in company stock. In the last financial year, he was paid 3.9-million shares worth R3.1-billion.

In the last financial year, Naspers executive director Steve Pacak earned R7.4-million and received shares valued at R132.5-million. R16-million was spent on wages for the rest of the Naspers board.

Naspers’ stock value has been climbing steadily; now trading at R780/share versus R340/share back in 2010.

The growth is attributed to its lucrative international digital endeavours – a 34% stake in China’s social media company Tencent, and 29% stake in Russian online services company Mail.ru. These two investments have generated R34.6-billion; this is contrasted with R4.3-billion from pay TV ventures (including DStv).

Source: Sunday Times (28 July 2013)

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Naspers boss sitting on company stock goldmine