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Key Points
- Barry Swartzberg’s stake in Discovery Limited has surged by $23.41 million, increasing his holdings to $5.09 billion as shares soar on the JSE.
- Discovery’s stock rallied 9.02% in three weeks, boosting its market cap to over $7.3 billion and driving investor demand locally and internationally.
- Discovery shares have risen 36.62% year-to-date, contributing to significant gains for investors, including Swartzberg, alongside a stronger South African rand.
South African businessman Barry Swartzberg has experienced a significant increase in the value of his holdings in Discovery Limited, as shares in the financial services conglomerate continue to soar on the Johannesburg Stock Exchange (JSE).
Swartzberg, a co-founder of Discovery, owns a 3.92 percent stake in the Sandton-based financial services group, amounting to 25,954,540 shares. Over the past three weeks, his Discovery stake has surged by R421.5 million ($23.41 million), propelling his fortune to new heights.
This latest gain follows a $43.3 million increase between Sep. 11 and Oct. 28, when his holdings rose from R3.85 billion ($218.12 million) to R4.62 billion ($261.41 million).
Barry Swartzberg’s stake surge as Discovery’s stock rally
Founded by Swartzberg alongside Adrian Gore, Discovery has grown into one of South Africa’s largest and most diversified financial services providers. It operates in various sectors, including long- and short-term insurance, asset management, savings, investment, and employee benefits.
Discovery's shares have surged 9.02 percent on the JSE, pushing its market capitalization above $7.3 billion. The stock rose from R180.05 ($9.96) to R193.94 ($10.73) in three weeks, fueled by strong demand from local and international investors.
The rally has boosted Barry Swartzberg’s stake by R421.5 million ($23.41 million), increasing its value from R4.67 billion ($259.54 million) on Oct. 31 to R5.09 billion ($282.95 million), this solidifies Swartzberg's position as one of South Africa's richest and a key investor on the JSE.
Your Money and Your Life
Discovery has outperformed in 2024, with shares rising 36.62 percent year-to-date, a performance further bolstered by the strengthening of the South African rand.
An investment of $100,000 in Italtile shares at the beginning of the year would now be worth $136,620, reflecting a gain of $36,620.
