Johannesburg: Koos Bekker, the South African billionaire and long-time chair of Naspers and Prosus, has sold shares in the two companies worth about $136 million, according to regulatory filings published this week.
The sales were carried out by a family trust linked to Bekker over three trading days between December 17 and 19,2025. The money raised will be used to finance property development and refurbishment at hospitality assets owned by the family in South Africa, the United Kingdom and Italy.
In Johannesburg, the trust sold 792,800 Naspers N ordinary shares, generating about R860.5 million, or roughly $46 million. Most of the shares were sold on December 17 and 18 at average prices just above R1,084 a share, with a smaller portion sold on December 19, 2025 at a slightly higher price.
A larger transaction took place in Amsterdam, Netherlands where the trust sold 1.56 million shares in Prosus for around €81.7 million, equivalent to about $90 million. Prosus is Naspers’ international investment arm and holds the group’s most valuable asset, its stake in Tencent.
Both companies said the share sales were undertaken purely to fund the hospitality projects and should not be interpreted as a change in Bekker’s long-term involvement or confidence in the businesses. After the transactions, the trust still holds about 90 percent of its previous stake in both Naspers and Prosus.
The disposals were disclosed in line with Johanesburg stock-exchange rules that require directors and senior insiders to report significant share dealings. For investors, the move appears to reflect personal portfolio rebalancing rather than any shift in strategy at either company.
More broadly, founder or insider sales often raise questions, but they are common at mature companies, particularly where a large portion of personal wealth is tied to one stock. In this case, Bekker remains closely aligned with other shareholders, especially given Prosus’ continued reliance on Tencent and its broader portfolio of growth assets.
For investors, Bekker’s share sale looks like personal portfolio management rather than a warning signal. The trust sold a small portion of its holdings, retained about 90 percent of its stake, and said the proceeds are being used for unrelated property projects. That suggests no change in confidence or strategy at Naspers or Prosus. The core investment drivers Tencent exposure, capital allocation, and discount to net asset value remain unchanged.
