The Saltzman family, famed South African billionaires and Dis-Chem Pharmacies founders, have seen a huge increase in wealth as the market value of their stake in the top retail pharmaceutical firm has rebounded recently.
Over the last six days, the market value of the Saltzman family’s Dis-Chem investment has climbed by R433.55 million ($23.05 million). This increase is due to the recent jump in Dis-Chem’s shares on the Johannesburg Stock Exchange (JSE).
From March 22 to April 18, the family’s interest in Dis-Chem decreased by R839.74 million ($44.12 million), from R10.21 billion ($536.54 million) to R9.37 billion ($492.42 million).
Lynette and Ivan Saltzman started Dis-Chem Pharmacies, a renowned South African retail pharmacy and healthcare firm, over four decades ago. It has since grown to become one of the country’s top healthcare providers. The organization provides a wide range of services, including pharmacies, family clinics, wound treatment facilities, and large self-medication areas.
Dis-Chem’s shares on the Johannesburg Stock Exchange (JSE) have risen 5.62 percent in the last six days, from R30.62 ($1.63) to R32.34 ($1.72). This growth catapulted Dis-Chem’s market capitalization past $1.5 billion, resulting in large returns for stockholders.
Lynette and Ivan Saltzman, who own a large 29.3 percent share in the Gauteng-based healthcare firm, have seen their investments benefit handsomely from the recent recovery.
The recent share price gain has increased the market value of the Saltzman family’s ownership by R433.55 million ($23.05 million), bringing it from R7.72 billion ($411.2 million) on April 24 to R8.15 billion ($434.2 million) at the time of writing.
This increase in the market value of their stake strengthens the Saltzman family’s position as one of South Africa’s wealthiest families and highlights their long-term impact on the country’s economy.
