South African businessman Adrian Gore has seen the market value of his stake in Discovery surge by over $21 million in just six days, driven by the recent rebound in the shares of the Sandton-based insurance giant.
Data gathered by Billionaires.Africa revealed that Gore’s stake in Discovery has increased by R389.21 million ($21.10 million) in less than a week as investors on the Johannesburg Stock Exchange renew buying interest in the leading financial services group.
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 financial services groups, specializing in long- and short-term insurance, asset management, savings, investment, and employee benefits.Â
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 owns a 12.96-percent stake in Discovery, which amounts to 87,267,598 ordinary shares.
Since Oct. 27, Discovery’s shares on the local bourse have increased from R127.06 ($6.889) to R131.52 ($7.131) at the time of writing this report, representing a more than three-percent gain for shareholders.
The surge in the company’s share price, representing a single-digit percent increase, has boosted the market value of Gore’s stake by R389.21 million ($21.10 million) in just six days. This surge has seen his stake value rise from R11.09 billion ($601.18 million) on Oct. 27 to R11.48 billion ($622.28 million) at the time of drafting this report.
This notable increase further solidifies Gore’s status as one of the wealthiest investors on the Johannesburg Stock Exchange and reinforces his position as one of South Africa’s most affluent business figures.
