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Key Points
- Barry Swartzberg’s Discovery stake fell by $13.7 million in nine days, dropping from $320.11 million to $306.24 million.
- Discovery shares slid 4.33% since July 21, trimming its market value to under $8 billion on the Johannesburg Stock Exchange.
- Despite recent losses, Discovery stock remains up 8.15% year-to-date, turning $100,000 into $108,150 by late July.
South African tycoon Barry Swartzberg, co-founder of Discovery Limited, has seen the value of his stake in the financial services group fall by $13.7 million in just over a week. The dip reflects a broader wave of investor caution sweeping across the Johannesburg Stock Exchange, where financial stocks have come under pressure.
Swartzberg's stake slides with Discovery
Swartzberg, who played a key role in shaping Discovery’s early strategy, marketing, and expansion, holds a 3.92-percent stake in the Sandton-based insurer. That stake has lost some ground recently, dropping in value from R5.71 billion ($320.11 million) to R5.47 billion ($306.24 million) over the past nine days, as Discovery’s share price slipped by 4.33 percent.
The decline follows a short-lived rebound between June 24 and July 9, when Discovery shares climbed after the company posted better-than-expected interim results. At the time, Swartzberg’s stake briefly rose by about $12 million, up from $307.7 million to $320.1 million, as investors warmed up to the stock once again.
Nine-day drop hits Discovery stock
Discovery Limited started out in 1992 as a health insurer but has since grown into a broader financial services group, offering everything from life insurance and asset management to investment products and employee benefits. Today, it operates not only in South Africa but also in the UK and parts of Asia.
Still, the past couple of weeks haven’t been easy for the company on the Johannesburg Stock Exchange. Its shares have fallen 4.33 percent over the last nine trading days, knocking its market value below $8 billion. The stock has dropped from R220.19 ($12.33) on July 21 to R210.65 ($11.80) at the time of writing.
Discovery shares up 8.15% YTD
Despite a recent dip, Discovery’s stock is still up 8.15 percent for the year. A $100,000 investment in Discovery shares at the start of 2025 would now be worth $108,150, reflecting steady investor confidence.
Barry Swartzberg, a co-founder and major shareholder, remains a key force behind Discovery’s direction. His early role was vital in shaping its integrated healthcare and insurance model, cementing the company’s place in South Africa’s financial sector.
