Michiel le Roux Biography
Michiel le Roux is a South African businessman and philanthropist recognized for co-founding Capitec Bank, where he served as CEO and chairman.
| Legal Name | Michiel Scholtz du Pré le Roux |
|---|---|
| Born | May 20, 1949 (Age 77 Years) |
| Alma mater | Stellenbosch University |
| Net Worth | US$3.3 Billion (October 2026) |
Early Life and Education
Michiel Scholtz du Pré le Roux was born on 20 May 1949 in South Africa. He completed his high school education at Hoërskool Alberton in 1966. Following this, he attended Stellenbosch University, where he earned a Bachelor of Commerce and a Bachelor of Laws degree, graduating in 1972.
Career
Le Roux began his professional career at Distillers Corporation, a liquor company in Stellenbosch, where he rose to the position of managing director. In 1994, he transitioned to the banking sector when he was appointed managing director of Boland Bank. His tenure at Boland Bank ended in 1998 following a disagreement with the bank's chairman, which led to a lawsuit.
In 2001, Le Roux co-founded Capitec Bank, initially named Daxacom, with Riaan Stassen and Jannie Mouton. The bank was listed on the Johannesburg Stock Exchange as Capitec Bank Holdings in February 2002. Le Roux served as the inaugural chief executive officer (CEO) from 2001 until 2004, after which he became chairman of the bank from 2007 until 2016. Under his leadership, Capitec Bank focused on the low-income retail market and adopted a digital-first banking model, which contributed to its growth and success.
Business Operations
Capitec Bank has become the largest bank in South Africa by customer numbers, reaching 25 million active clients by mid-2025. The bank's strategy has included a strong emphasis on digital banking, which has allowed it to offer affordable banking products and expand its client base significantly.
As of October 2025, Le Roux owns approximately 11.36% of Capitec Bank's shares. His estimated net worth is $3.3 billion as of January 2025.
Political Activities and Philanthropy
Le Roux has been a notable supporter of the Democratic Alliance (DA), contributing significant financial donations through his private companies, Fynbos Ekwiteit and Fynbos Kapitaal. He has maintained a close relationship with prominent DA figures, including Helen Zille. Between 2021 and 2023, he donated over R50 million to the party, making him one of its largest individual donors.
In 2010, he established the Millennium Trust, a non-profit organization that supports various media and civil society initiatives in South Africa. The trust has been involved in funding organizations such as amaBhungane, GroundUp, and Corruption Watch.
Personal Life
Le Roux resides in Stellenbosch with his wife and children. He is also a trustee of the law faculty at Stellenbosch University. His son, Michiel le Roux Jr., has authored a memoir detailing his experiences in politics.
See where Michiel le Roux ranks on the top 50 list of the richest people in South Africa in 2026.