South African businessman Barry Swartzberg has experienced a substantial increase in the market value of his stake in Discovery Limited, as shares in the leading financial services group surged on the Johannesburg Stock Exchange.
The market value of Swartzberg’s stake in the leading financial services group has increased by R273.77 million ($14.62 million) over the past 32 days, as investors renewed buying interest in the Sandton-based financial services group.
Discovery shares 8.36-percent surge, market cap nears $5 billion
Discovery Limited, which was founded as a medical insurer in 1992, 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.
Since Oct. 27, Discovery shares on the Johannesburg Stock Exchange have surged from R127.06 ($6.784) to R137.68 ($7.351) at the time of drafting this report—pushing the group’s market cap to nearly $5 billion and returning an 8.36-percent gain to the shareholders over the last 32 days.
Barry Swartzberg’s Discovery stake nears $190 million valuation
As one of the co-founders of the leading group with active operations in South Africa and subsidiaries in the United Kingdom, United States, China, Singapore, and Australia, Swartzberg owns a 3.92-percent stake in the Sandton-based financial services group — this stake amounts to a total of 25,778,420 ordinary shares in the leading financial services group.
According to the data tracked by Billionaires.Africa the market value of Swartzberg’s stake has increased by R273.77 million ($14.62 million), soaring from R3.28 billion ($174.87 million) on Oct. 27 to R3.55 billion ($189.48 million) at the time of drafting this report.
This recent surge further cements Swartzberg’s position not only as one of South Africa’s richest businessmen but also as one of the richest investors on the Johannesburg Stock Exchange.