South African businessman Barry Swartzberg has seen the market value of his holdings in Discovery Limited surge by nearly $15 million, driven by a sharp rise in the company's shares on the Johannesburg Stock Exchange (JSE) .
According to data gathered by Billionaires.Africa , Barry Swartzberg's stake in Discovery has grown by R270.42 million ($15 million) over the past 23 days. This increase follows a prior gain of $42.5 million between June 6 and July 3 , when the market value of his stake soared from R2.82 billion ($152.4 million) to R3.6 billion ($194.5 million).
Discovery's stock surges by 7.7 percent, lifting market cap above $5 billionDiscovery , founded as a medical insurer in 1992, has grown into one of South Africa's largest and most diversified global financial services firms. The company operates in various sectors, including long- and short-term insurance, asset management, savings, investment, and employee benefits.
Discovery's stock has accrued 7.74 percent on the JSE over the past twenty-three days, rising from R135.57 ($7.51) on July 23 to R146.06 ($8.09) at the time of this report. This surge has pushed the group's market capitalization above $5 billion.
