Home » South African multimillionaire Saltzman family sees $44.1-million loss on Dis-Chem stake

South African multimillionaire Saltzman family sees $44.1-million loss on Dis-Chem stake

Saltzmans' stake in Dis-Chem slides on market downturn

by Mfonobong Nsehe
Ivan Saltzman

The Saltzman family, a renowned South African billionaire family, has seen a substantial $44.1-million decline in the market value of their stake in Dis-Chem Pharmacies, following the recent decline in the company’s shares on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, the market value of the Saltzman family’s stake in Dis-Chem Pharmacies has slumped by R839.74 million ($44.1 million) in the past 27 days — reflecting a shift in investor sentiment on the JSE.

Dis-Chem’s market capitalization declines below $1.5 billion

Dis-Chem Pharmacies, a leading South African retail pharmacy and healthcare group, has solidified its position as a dominant force in the healthcare industry for over four decades since its founding by Lynette and Ivan Saltzman.

The group offers a diversified range of services encompassing dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.

Dis-Chem Pharmacies shares on the JSE have slumped 7.31 percent over the past 27 days, falling from R33.81 (R1.78036) on March 22 to R31.03 (R1.6503). This has brought the market capitalization below R1.5 billion, leading to notable losses for shareholders.

Saltzmans’ stake in Dis-Chem slides on market downturn

Lynette and Ivan Saltzman retain a significant 35.12-percent stake in the Gauteng-based healthcare group. Under their leadership, the company has grown into one of Africa’s largest retail pharmacy chains, boasting over 300 stores and employing more than 20,000 staff members.

The family’s combined stake has fallen by R839.74 million ($44.12 million) over the past 27 days, dropping from R10.21 billion ($536.54 million) on March 22 to R9.37 billion ($492.42 million) as of today. 

Despite the decline, the Saltzmans remain prominent investors on the Johannesburg Stock Exchange (JSE), with a lasting impact on South Africa’s healthcare and pharmacy retail landscape.`

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