Home » South African tycoon Adrian Gore’s Discovery stake surpasses $660 million

South African tycoon Adrian Gore’s Discovery stake surpasses $660 million

Adrian Gore's wealth surges as stake in Discovery increases by $93 million

by Timilehin Adejumobi
Adrian Gore

Key Point


  • South African tycoon Adrian Gore’s Discovery stake surges above $660 million, adding $93 million to his wealth in 26 days.
  • Gore, co-founder of Discovery, holds a 12.96% stake, totaling 87,267,598 shares, contributing to his recent financial gains.
  • Discovery’s recent stock surge has narrowed its year-to-date losses to 3.95%, benefiting shareholders like Gore despite earlier declines.

South African billionaire Adrian Gore has seen a significant boost in his wealth, with the market value of his stake in Discovery surging above $660 million. The Sandton-based insurance giant added a total of $93 million to his fortune, thanks to the recent surge on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, Gore’s stake in Discovery, has surged by R1.69 billion ($93.31 million) over the past 26 days. This increase follows a notable gain of $32.38 million between June 6 and 13, when the market value of his stake rose from R9.54 billion ($517.51 million) to R10.14 billion ($549.89 million).

Adrian Gore’s 12.96 percent stake in Discovery

Discovery, headquartered in Sandton, South Africa, is a leading financial services group co-founded in 1992 by Gore and Barry Swartzberg. The company began as a medical insurer and has since expanded into long- and short-term insurance, asset management, savings, investment, and employee benefits.

Gore, who ranks as one of South Africa’s leading business figures, owns a 12.96-percent stake in Discovery. His stake, amounting to a total of 87,267,598 shares, has played a key role in his recent financial achievements.

Discovery stock rises 16.38 percent

Discovery’s share price on the JSE has surged by 16.38 percent, rising from R118.58 ($6.53) on June 13 to R138 ($7.60) at the time of writing. This growth has elevated the company’s market cap above $5 billion, delivering significant gains for shareholders, including Gore.

The recent double-digit uptick in Discovery shares has caused the market value of Gore’s stake to increase by R1.69 billion ($93.31 million) over the past 26 days. His stake has grown from R10.35 billion ($569.75 million) on June 13 to R12.04 billion ($663.06 million), reinforcing his status as one of South Africa’s most successful businessmen.

Your Money and Your Life 

Discovery’s recent share price surge has helped narrow its year-to-date losses. The stock’s 16.38 percent gain has reduced its previously double-digit year-to-date loss to single-digit, bringing it to 3.95 percent.

Investors who purchased Discovery shares on Jan. 1 are now facing a 3.95 percent loss. A $100,000 investment in Discovery shares would now be worth $96,050, representing a loss of $3,950.

You may also like

logo

The world’s premier source of news on Africa’s billionaires and UHNWIs.

Newsletter

Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.