Saltzman family’s stake in Dis-Chem drops below $600 million
Renowned South African family’s net worth takes a hit as stake in Dis-chem declines.
Renowned South African family’s net worth takes a hit as stake in Dis-chem declines.
The recent sale aligns with a broader trend in the South African retail industry, where founding families reduce their control over companies.
The South African billionaire Saltzman family holds a 35.1 percent stake in the company, valued at R9.97 billion ($529.23 million).
This increase follows earlier gains recorded between April 24 and April 30, when the market value of the family’s stake surged by R433.55 million ($23.05 million)
The family’s recent financial gains come after experiencing losses between March 22 and April 18, during which the family’s joint stake in Dis-Chem fell by $44.1 million.
Despite the decline, the Saltzmans remain prominent investors on the Johannesburg Stock Exchange (JSE).
The $21.08-million increase in the market value of the Saltzman family’s stake in Dis-Chem solidifies their position as significant investors on the JSE.
By owning these critical assets outright, Dis-Chem aims to enhance its operational efficiency and ensure long-term strategic stability.
The market value of the Saltzman family’s joint stake in Dis-Chem Pharmacies has declined from $487.7 million on Jan. 1 to $465.61 million.
Lynette and Ivan Saltzman own a beneficial 35.12-percent stake in the Gauteng-based Dis-Chem Pharmacies.
The Saltzman family, who own 35.12 percent of Dis-Chem, played a key role in steering its growth into one of South Africa’s largest retail pharmacy chains.
The billionaire Saltzman family, who currently own a 35.1-percent stake in Dis-Chem, have solidified their status as one of the wealthiest families in South Africa.
South African billionaire Saltzman family presently owns a beneficial 35.12-percent stake in Dis-Chem Pharmacies.
Since the Saltzmans founded Dis-Chem Pharmacies more than four decades ago, it has grown into one of the country’s leading retail healthcare groups.