South African businessman Adrian Gore’s stake in Discovery Group has experienced a significant surge, bolstered by sustained buying interest in the financial services group’s shares on the Johannesburg Stock Exchange.
According to data tracked by Billionaires.Africa, Gore’s stake in Discovery Group has soared by R1.5 billion ($81.6 million) since the start of this year, further cementing his status as one of the wealthiest investors in the local bourse.
Headquartered in Sandton and co-founded in 1992 as a medical insurer by Gore and Barry Swartzberg, Discovery is one of South Africa’s largest and most diverse global financial services firms, specializing in long- and short-term insurance, asset management, savings, investment, and employee benefits.
The Sandton-based insurance giant has played a pivotal role in Gore’s recent financial success. As the founder of the leading financial services group, Gore holds an impressive 7.38-percent stake in Discovery, which amounts to 48,599,758 ordinary shares.
Since the beginning of the year, Discovery’s shares on the local bourse have surged from R123.35 ($6.6129) to R154.65 ($8.3608) at the time of writing this report, representing a substantial 25.37 percent gain for shareholders, including its co-founders, Gore and Swartzberg, who continue to hold significant stakes in the company.
Consequently, the market value of Gore’s stake in Discovery has increased from R5.99 billion ($321.54 million) at the start of the year to R7.52 billion ($403.13 million) at the time of reporting.
This remarkable surge solidifies Gore’s position as one of the wealthiest investors on the Johannesburg Stock Exchange and cements his status as one of South Africa’s most affluent business people.
