Barry Swartzberg’s Discovery stake rebounds above $330m

South African businessman Barry Swartzberg has seen the market value of his stake in Discovery Limited climb back above the $330 million mark after the recent rebound in the insurer’s shares on the Johannesburg Stock Exchange (JSE).

Swartzberg, a co-founder and major shareholder in Discovery, owns 3.92 percent of the company—about 25.95 million shares. Over the past 15 days, the value of his holdings has risen by R288.35 million ($16.68 million), recovering part of the losses he faced earlier this year.

Recovery follows earlier decline

The recovery comes after a rough stretch between Sept. 9 and Oct. 9, when Discovery’s share price slipped and the value of Swartzberg’s stake fell by $33.25million—from R5.88 billion ($342.68 million) to R5.31 billion ($309.42 million).

Discovery began as a health insurance company in 1992, but it has since grown into a behemoth that offers a wide range of financial services. It offers life insurance, asset management, financial products, and perks for employees. Its broad businesses have also expanded outside of South Africa, including operations in the UK and parts of Asia.

On the JSE, its shares have gained 5.27 percent since Oct. 10, rising from R211 ($12.2075) to R222.11 ($12.85). That rise has lifted Discovery’s market capitalization to around $8.7 billion, reflecting a renewed sense of confidence among investors after a challenging few months. 

Signs of steady investor confidence

The stock’s rebound has also boosted Swartzberg’s holdings, now valued at about R5.76 billion ($333.52 million), up from R5.48 billion ($316.84 million) on October 10. The increase reflects his long-term commitment to Discovery. 

So far in 2025, Discovery’s stock has risen 14.04 percent. That means a $100,000 investment at the start of the year would now be worth about $114,040, a sign that the company is earning back investors’ confidence while delivering steady returns.