South African billionaire Saltzman family gains $23 million from Dis-Chem stake

The Saltzman family, renowned South African billionaires and founders of Dis-Chem Pharmacies, have witnessed a significant surge in their wealth, thanks to the recent rebound in the market value of their stake in the leading retail pharmaceutical group.

According to data from Billionaires.Africa, the market value of the Saltzman family’s stake in Dis-Chem has increased by R433.55 million ($23.05 million) over the past six days. This gain is attributed to the recent surge in Dis-Chem’s shares on the Johannesburg Stock Exchange (JSE).

The family’s recent financial gains come after experiencing losses between March 22 and April 18, during which the family’s stake in Dis-Chem fell by R839.74 million ($44.12 million), dropping from R10.21 billion ($536.54 million) to R9.37 billion ($492.42 million).

Dis-Chem shares surge over 5 percent, market cap hits $1.5 billion

Dis-Chem Pharmacies, a leading South African retail pharmacy and healthcare group founded over four decades ago by Lynette and Ivan Saltzman, has grown into one of the nation’s top healthcare providers. The company offers a comprehensive suite of services, including pharmacies, family clinics, wound care centers, and extensive self-medication areas.

Dis-Chem’s shares on the Johannesburg Stock Exchange (JSE) have gained 5.62 percent over the past six days, climbing from R30.62 ($1.63) to R32.34 ($1.72). This increase propelled Dis-Chem’s market cap above $1.5 billion, delivering significant returns to shareholders.

Saltzman family’s stake surges by $23 million

Lynette and Ivan Saltzman, who hold a significant 29.3 percent stake in the Gauteng-based healthcare group, have seen their holdings benefit handsomely from the recent upswing.

The recent share price increase has boosted the market value of the Saltzman family’s holding by R433.55 million ($23.05 million), rising from R7.72 billion ($411.2 million) on April 24 to R8.15 billion ($434.2 million) at the time of writing.

This surge in the market value of their stake further cements the Saltzman family’s position among South Africa’s wealthiest families and underscores their lasting impact on the nation’s economic landscape.