Adrian Gore, a South African millionaire, has watched the market value of his Discovery stock increase by more than $32 million in the last six days. This increase is due to the continued rise in the share price of the Johannesburg Stock Exchange (JSE)-listed insurer.
Gore’s investment in Discovery has climbed by R596.9 million ($32.38 million) in the last six days. This increase follows a period of consistent gains for Gore, who saw his Discovery investment expand by $22 million between May 15 and 29.
Gore and Barry Swartzberg co-founded Discovery, a major financial services firm, in 1992 and is located in Sandton, South Africa. The company started out as a medical insurer and has since evolved into long- and short-term insurance, asset management, savings, investments, and employee perks.
Discovery’s share price has risen by 6.26 percent, from R109.33 ($5.93) on June 6 to R116.17 ($6.30) as of this writing. This increase has pushed the company’s market capitalization past $4 billion, resulting in significant returns for owners, including Adrian Gore.
Adrian Gore, Discovery’s co-founder and CEO, owns 12.96 percent of the corporation, or 87,267,598 ordinary shares. The insurance has played a significant part in Gore’s recent financial success.
The recent share price surge has caused the market value of Gore’s stock to climb by R596.91 million ($32.38 million), from R9.54 billion ($517.51 million) on June 6 to R10.14 billion ($549.89 million) at the time of writing this report.
Despite Gore’s recent financial success, buyers should exercise caution and perform due diligence before purchasing Discovery shares. The stock price is down 19.15% year to date.
Investors who bought Discovery on January 1 are down 19.15 percent. A $100,000 investment would now be worth $80,850, down $19,150.
