South African billionaire Saltzman family gains $22.6 million from Dis-Chem stake

Feyisayo Ajayi -

Key Points

  • The Saltzman family’s stake in Dis-Chem Pharmacies has increased by R402.2 million ($22.6 million) in the past 18 days.
  • Dis-Chem shares have risen 4.5% since Aug. 6, boosting the company’s market cap to over $1.7 billion.
  • Dis-Chem shares have gained 22.26% year-to-date, with a $100,000 investment now worth approximately $122,260.

The Saltzman family, founders of South Africa’s leading retail pharmacy chain Dis-Chem Pharmacies, has experienced a significant increase in the value of their investment in the company, driven by recent buying interest 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 has surged by R402.2 million ($22.6 million) over the past 18 days. This follows a previous gain from May 2 to 22, when the value of their stake rose by R249.55 million ($13.68 million), elevating it from R8.27 billion ($453.13 million) to R8.51 billion ($466.81 million).

Dis-Chem shares push market cap above $1.7 billion

Dis-Chem Pharmacies, established by Lynette and Ivan Saltzman over four decades ago, has become one of South Africa’s top retail healthcare groups.

The company provides a wide range of services including dispensaries, family clinics, wound care clinics, and self-medication centers.

Since Aug. 6, Dis-Chem shares on the JSE have risen by 4.5 percent, from R35.1 ($1.98) to R36.52 ($2.07), pushing the company’s market capitalization above $1.7 billion.

Saltzman family’s wealth surges

The Saltzman family, who hold a 29.3-percent stake in the Gauteng-based healthcare group, have benefited greatly from this rise. The stake has increased by R402.2 million ($22.63 million) since Aug. 6, from R8.77 billion ($493.3 million) to R9.17 billion ($515.9 million) since Aug. 6.

This significant increase in the market value of the Saltzman family’s stake in Dis-Chem further solidifies their position among South Africa’s wealthiest families, underscoring their enduring influence on the nation’s economic landscape.

Your Money and Your Life

For shareholders, the year-to-date return on Dis-Chem shares stands at 22.26 percent. An investment of $100,000 in Dis-Chem shares at the beginning of 2024 would now be worth approximately $122,260, reflecting a gain of $22,260.