- Adrian Gores stake in Discovery has risen by 78.73 million, pushing its value closer to half a billion-dollar fortune in just 37 days.
- Discoverys stock surged 19.28, driving the groups market cap closer to 7 billion and boosting investor confidence.
- Discoverys shares have delivered a 28.92 return to shareholders this year, turning a 100,000 investment into 128,915.
South African insurance tycoon and co-founder of Discovery, Adrian Gore, has strengthened his position among South Africas top businessmen. His 7.19 percent stake48.3 million sharesin the Sandton-based insurer is now approaching 500 million, driven by stock gains on the Johannesburg Stock Exchange JSE.
Recent rally elevates Gores fortuneAdrian Gore, one of South Africas most affluent executives, owns 7.19 percent shares of Discovery. In the last 37 days, the value of his stake has increased by R1.38 billion 78.72 million, riding the stock surge.
Discoverys shares have climbed 16.5 percent over the past 37 days, from R 148.46243.81 on Sept. 11 to R 177.09284.05. As a result, Gores stake grew from R7.18 billion 408.25 million to R 8.56 billion 486.98 million, marking a 78.73 million gain in value during the period.
Discoverys stock surges 28.92 YTDFounded in 1992 by Gore and Barry Swartzberg, Discovery began with medical insurance and has since expanded into long-term and short-term insurance, asset management, and investment services.
Discoverys stock is up 28.9 this year, outpacing peers and strengthening its position in South Africas insurance sector. A 100,000 investment at the start of the year would now be worth 128,915, delivering a 28,915 profit.
