One of South Africa’s richest families, the Saltzmans, has recouped part of their previous losses this year, thanks to the recent upswing in their stake in Dis-Chem Pharmacies, a Gauteng-based healthcare group.
The billionaire Saltzman family — Lynette and Ivan Saltzman — renowned as the founders of the leading retail pharmacy chain and healthcare group Dis-Chem Pharmacies, has seen the market value of their shares in the group rise by R1.89 billion ($103.37 million) since Oct. 24.
The recent upsurge in the family’s wealth has mitigated prior losses incurred in October—a phase marked by a sustained decline in Dis-Chem shares. The dip in Dis-Chem shares last month stemmed from heightened selling pressure on the Johannesburg Stock Exchange.
Dis-Chem share price surges by 27.54 percent, market cap soars above $1.3 billion
Dis-Chem Pharmacies is a leading retail pharmacy chain and healthcare group in South Africa. Since the Saltzmans — Lynette and Ivan Saltzman — founded the company over four decades ago, it has grown into one of the country’s leading retail healthcare groups, with dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.
Lynette and Ivan Saltzman, who currently own 35.12 percent of the Gauteng-based healthcare group, played a pivotal role in steering its growth into one of the largest retail pharmacy chains in South Africa by market share. The group boasts more than 300 retail stores and employs more than 20,000 staff.
The recent 27.54-percent surge in Dis-Chem’s shares on the Johannesburg Stock Exchange — from R22.84 ($1.243) on Oct. 24 to R29.13 ($1.585) — has elevated its market capitalization above the $1.3 billion mark.
The Saltzman family recovers, as Dis-Chem stake surges $103 million amid market rally
Like other shareholders in the group who experienced substantial losses last month, the Saltzman family has now reaped the benefits of the recent surge in Dis-Chem shares on the Johannesburg Stock Exchange.
The market value of the joint Dis-Chem shares held by Lynette and Ivan Saltzman has rebounded by R1.89 billion ($103.37 million) over the past 27 days. This surge propelled the value from R6.89 billion ($375.36 million) on October 24 to R8.79 billion ($478.73 million).
The recent $103.37-million increase in the Saltzman family’s stake solidifies their already well-established position among South Africa’s wealthiest families, reaffirming their enduring impact on the nation’s healthcare and retail landscape.
