Barry Swartzberg's stake in Discovery Limited has gained 37.81 million over the past month as shares surged on the Johannesburg Stock Exchange.
Swartzbergs 3.92 stake in Discovery, 25.95 million shares, increased by R690.39 million 37.81 million as the companys stock rebounded.
Discoverys share price climbed 6.25 this year, outperforming peers, and rewarding early investors like Swartzberg amid renewed market confidence.
South African businessman Barry Swartzberg, co-founder of financial services giant Discovery Limited, has seen a strong comeback in the value of his stake, gaining 37.81 million over the past month as Discoverys shares surged on the Johannesburg Stock Exchange JSE.
Swartzberg, a top figure in South Africas financial services industry, owns a 3.92-percent stake in Discovery, about 25.95 million shares. As of May 7, the value of his stake has risen by R690.39 million 37.81 million, lifted by a steady rise in the companys share price.
This rebound comes after a rough patch in April, when Swartzberg saw the value of his stake drop by 40.1 million during a period of broader market weakness. His recovery mirrors a wider lift in South African stocks, helped by strong earnings reports, a stronger rand, and renewed investor confidence in the countrys financial services sector.
Discovery crosses 7.5 billion market cap as shares outperform peersSwartzberg co-founded Discovery with Adrian Gore, and together they built one of South Africas largest and most diversified financial services groups. Discovery now operates across insurance, asset management, savings, investment, and employee benefits.
Over the past 28 days, Discoverys share price has climbed from R180.34 9.88 on April 9 to R206.94 11.33, pushing its market capitalization past the 7.5 billion mark. The rally has rewarded shareholders handsomely, with Swartzbergs stake alone growing from R4.68 billion 256.32 million to R5.37 billion 294.13 million.