Barry Swartzberg’s Discovery stake yields $83 million so far this year

Feyisayo Ajayi -
Key Points
  • Barry Swartzberg’s stake in Discovery has surged by $83.5 million this year, driven by a 37.8% increase in the insurer’s share price.
  • Discovery’s market capitalization now exceeds $7.4 billion, marking significant growth and driving investor demand locally and internationally.
  • A $100,000 investment in Discovery at the start of 2024 would now be worth $139,370, reflecting a $39,370 profit.

South African businessman Barry Swartzberg has seen a significant surge in the market value of his stake in Discovery this year, driven by a steady rise in the company's share price on the Johannesburg Stock Exchange (JSE).

Swartzberg gains $83 million year-to-date

As a co-founder of the Sandton-based financial services group, Swartzberg owns a 3.92 percent stake, equivalent to 25,954,540 shares.

Since the start of 2024, the value of his holdings has surged by R1.41 billion ($83.5 million), reflecting the stock’s strong rally. This increase has propelled his year-to-date gains to $83.5 million, more than doubling the $28.81 million he earned during the same period in 2023.

The continued upward trend throughout the year further cements Swartzberg's status as one of South Africa’s most prominent business magnates and strategic investors.

Discovery’s stock surges 37.8% YTD, market cap hits $7.4 billion

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.

Since the start of the year, Discovery's shares have surged 37.8 percent on the JSE, propelling its market capitalization to $7.4 billion. The stock rose from R143.68 ($8.034) on January 1 to R197.99 ($11.07), fueled by strong demand from local and international investors.

Swartzberg's stake in Discovery has gained R1.41 billion ($83.5 million) year-to-date, increasing its value from R3.73 billion ($203.85 million) on January 1 to R5.14 billion ($287.30 million). The surge reflects strong investor confidence in the South African insurer.

Your Money and Your Life

Discovery's stock has surged 37.8 percent this year, outpacing rivals and solidifying its leadership in Africa’s insurance market. The gain has been even more lucrative for foreign investors, with a strong South African Rand boosting returns to 40.94 percent.

A $100,000 investment in Discovery shares at the start of the year would now be worth $140,943, yielding a profit of $40,943.