South African billionaire Adrian Gore’s Discovery expects earnings to surge by 35 percent
Discovery Limited is a Sandton-based insurance conglomerate led by South African businessman Adrian Gore.
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Discovery Limited is a Sandton-based insurance conglomerate led by South African businessman Adrian Gore.
Gore holds a significant 7.48-percent stake in Discovery, which amounts to 48,599,758 ordinary shares.
Gore, who founded Discovery in 1992 and ranks as one of South Africa’s richest businessmen, owns a 7.48-percent stake in the Sandton-based insurance giant.
Gore owns a 7.38-percent stake in Discovery, or 48,599,758 ordinary shares.
Gore’s net worth plummets by $34.9 million as Discovery’s shares face significant pullback.
Gore’s stake in Discovery is presently valued at $320 million.
Gore revealed that the move is a strategic attempt to deliver value.
Swartzberg owns a 3.93-percent stake of the Sandton-based company.
Earlier, the founders sold off close to $4.86 million of their shares in the diversified multinational financial service group.
His partner Barry Swartzberg joined him in selling off a huge chunk of shares.