Home » South African businessman Barry Swartzberg’s stake in Discovery nears $200 million

South African businessman Barry Swartzberg’s stake in Discovery nears $200 million

Barry Swartzberg's wealth surges as stake in Discovery grows by $42.5 million.

by Timilehin Adejumobi
Barry Swartzberg

Key Points:

  • Barry Swartzberg sees his stake surge as Discovery’s shares rise 28% in 27 days, boosting his holdings to nearly $200 million.
  • Swartzberg’s stake, valued at R3.56 billion ($195 million), rebounded from a recent dip below $155 million.
  • Despite earlier losses, Discovery’s recent stock surge cuts its year-to-date losses, now standing at 2.22 percent.

South African businessman Barry Swartzberg has experienced a significant resurgence in his fortune, with the market value of his holdings in Discovery Limited now nearing $200 million. This increase is attributed to a recent surge in the company’s share price.

Since June 6, Discovery’s shares have soared by nearly 28 percent, elevating the market value of Swartzberg’s stake by R786.5 million ($42.5 million) over the past twenty-seven days. His stake now stands at R3.56 billion ($195 million).

This rebound follows a challenging period during which his stake dipped below $155 million, after declining by R171.17 million ($9.21 million) between May 24 and 30.

Discovery’s impressive performance

Discovery, founded as a medical insurer in 1992, has grown into one of South Africa’s largest and most diversified global financial services firms. The company operates in various sectors, including long- and short-term insurance, asset management, savings, investment, and employee benefits.

In the last 27 days, Discovery shares on the Johannesburg Stock Exchange (JSE) have climbed from R109.33 ($5.91) on June 6 to R139.84 ($7.56), pushing the group’s market capitalization past the $5 billion milestone and delivering impressive gains to shareholders.

Swartzberg’s significant stake and long-term commitment

Swartzberg, a co-founder of the Sandton-based financial services group, owns a 3.92% stake in the company, amounting to 25,778,420 ordinary shares. This substantial holding reflects his long-term commitment and influential role in Discovery’s growth.

With the recent surge in share price, the market value of Swartzberg’s stake has increased by R786.5 million ($42.5 million), rising from R2.82 billion ($152.4 million) on June 6 to R3.6 billion ($194.5 million). This solidifies Swartzberg’s position as one of South Africa’s wealthiest businessmen and strengthens his spot among the richest investors on the JSE.

Your Money and Your Life

Thanks to the recent spike in the company’s share price, Discovery is steadily reducing its year-to-date losses.

The recent 27.9 percent increase in its share price over the past 27 days has reduced the previously double-digit year-to-date percent loss to a single-digit percent, now totaling 2.22 percent. 

A $100,000 investment in Discovery at the start of the year would now be worth $97,780, reflecting a loss of $2,220.

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