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Key Points
- Barry Swartzberg’s stake in Discovery Limited surged by $15 million over 23 days, driven by a 7.7% rise in stock price.
- Discovery’s market capitalization surpasses $5 billion after a 7.74% stock price increase in 23 days.
- Swartzberg’s stake in Discovery grew from $193.7 million to $208.7 million, reflecting a significant 23-day value surge.
South African businessman Barry Swartzberg has seen the market value of his holdings in Discovery Limited surge by nearly $15 million, driven by a sharp rise in the company’s shares on the Johannesburg Stock Exchange (JSE).
According to data gathered by Billionaires.Africa, Barry Swartzberg’s stake in Discovery has grown by R270.42 million ($15 million) over the past 23 days. This increase follows a prior gain of $42.5 million between June 6 and July 3, when the market value of his stake soared from R2.82 billion ($152.4 million) to R3.6 billion ($194.5 million).
Discovery’s stock surges by 7.7 percent, lifting market cap above $5 billion
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.
Discovery’s stock has accrued 7.74 percent on the JSE over the past twenty-three days, rising from R135.57 ($7.51) on July 23 to R146.06 ($8.09) at the time of this report. This surge has pushed the group’s market capitalization above $5 billion.
Barry Swartzberg’s stake in Discovery surges by $15 million
Swartzberg, a co-founder of the Sandton-based financial services group, holds a 3.92% stake in the company, equivalent to 25.78 million shares. This reflects his long-term commitment and influence in Discovery’s growth.
Discovery’s recent share price increase has boosted the market value of Barry Swartzberg’s stake by R270 million ($15 million), rising from R3.49 billion ($193.7 million) on July 23 to R3.76 billion ($208.7 million).
Your Money and Your Life
Discovery shares have gained 1.66 percent year-to-date on the JSE. A $100,000 investment at the start of 2024 is now worth $101,660, yielding a profit of $1,660.
