CAPE TOWN – Over the past five years, JSE-listed Naspers was the third fastest growing technology stock in the world with a current market valuation above US$100 billion, which was pipped only to the post by Tencent, in second place, in which it has a 33.2% stake, as well as by graphics card giant Nvidia at the top of the list.
An investment in Naspers five years ago would have elicited a 581.8% return, which is a better return than that offered by US technology giants such as Amazon.com, Facebook and Googleparent Alphabet. Naspers has lagged Tencent, which has shown a great rise by 751.9% over five years and by 132.7% in the past 12 months.
Global tech shares, which have shown a great rise over the past five years, now dominate the top 10 most valuable companies worldwide. The list does not, however, include telecommunication companies.
Nvidia tops the list of best performers over the past five years, with an incredible rise of 1790.8% in that period. The rise was driven by the demand for computing power by crypto-currency miners as well as the demand from gamers for high-end graphics cards to power the latest videogames. Nvidia was only beaten by Tencent.
The list, though, remains dominated by US companies, with 13 companies, and other nations to feature on the list being China, Korea, South Africa, and Germany.