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After recording substantial losses several months ago, the Saltzman family, South African billionaires and founders of the retail pharmacy chain and healthcare group Dis-Chem Pharmacies, have seen a remarkable recovery in the market value of their stake in the group.
According to data tracked by Billionaires.Africa, the market value of the Saltzman family’s stake in Dis-Chem Pharmacies has surged by R2.41 billion ($131.18 million) since Oct. 25. This upswing is attributed to the recent surge in the company’s shares on the Johannesburg Stock Exchange (JSE).
This follows a period of losses recorded over two months ago, when the family faced a $22-million decrease between Oct. 11 and Oct. 24. During this time, the market value of their stakes in Dis-Chem slumped from R7.33 billion ($385.25 million) to R6.9 billion ($363.00 million).
Dis-Chem shares surge by over 35 percent, pushing its market cap above $1.4 million
Dis-Chem Pharmacies, a retail pharmacy chain and healthcare group based in South Africa, has evolved into one of the nation’s top retail healthcare groups since its inception over four decades ago by Lynette and Ivan Saltzman. The company boasts a comprehensive array of services, including dispensaries, family clinics, wound care clinics, and extensive self-medication centers.
In recent times, Dis-Chem’s shares on the JSE have increased by 35.2 percent — from R22.70 ($1.234) on Oct. 25 to R30.69 ($1.668) at the time of this report — thus propelling the group’s market capitalization above the $1.4-billion mark.
The Saltzman family’s stake in Dis-Chem surges above $500 million
Lynette and Ivan Saltzman, who presently own a beneficial 35.12-percent stake in the Gauteng-based healthcare group, have steered it to become one of the largest retail pharmacy chains in South Africa by market share, with over 300 retail stores and more than 20,000 staff.
As a result of the recent surge in the group’s shares, the Saltzman family’s collective ownership in Dis-Chem Pharmacies has surged by R2.41 billion ($131.18 million) from its October 25 valuation of R6.86 billion ($372.70 million) to R9.27 billion ($503.88 million) at the time of this report’s drafting.
This noteworthy $131.2 million surge in the market value of the Saltzman family’s stake in Dis-Chem further cements their already formidable standing among South Africa’s wealthiest families, highlighting their enduring impact on the nation’s economic landscape.
