South Africa's Saltzman Family Sees 45 Million Wipeout As Dis-chem Shares Plunge

Key Points

• The Saltzman familys stake in Dis-Chem Pharmacies has lost 45.37 million in a month as shares slid 9.58 on the JSE.
• The pharmacy giants stock has fallen 14.91 this year, reflecting broader pressures in South Africas pharmaceutical sector.
• The family's 29.3 stake in Dis-Chem is now worth 428 million, down from 473.47 million just a month ago.

The Saltzman family, one of South Africas wealthiest, has taken a significant hit as the value of their stake in Dis-Chem Pharmacies dropped by 45.37 million. The decline follows a recent slump in the companys shares on the Johannesburg Stock Exchange JSE.

With a 29.3-percent stake in the Gauteng-based healthcare groupamounting to 252,066,319 sharesthe family has seen their investment shrink by R829.3 million 45.37 million in the past month, bringing the total market value of their holdings down to 428 million.

This latest drop comes after a 26.33 million loss earlier in the year . Between Jan. 7 and Jan. 20, the familys stake fell from R9.39 billion 500.43 million to R8.89 billion 474.1 million, marking a rough start to the year for the wealthy South African family.

Dis-Chem Pharmacies, a leading retail pharmacy and healthcare group in South Africa, has grown into one of the countrys top names in retail healthcare since Lynette and Ivan Saltzman founded it over four decades ago. The company offers a wide range of services, including dispensaries, family clinics, wound care clinics, and extensive self-medication centers.