Barry Swartzberg’s Discovery stake rises by $18 million

South African tycoon Barry Swartzberg, co-founder of financial services group Discovery Limited, has seen a significant rise in the value of his stake—gaining about $18 million in just 13 days—as the company’s shares climbed on the Johannesburg Stock Exchange (JSE).

Swartzberg stake rises to $351 million

Swartzberg owns 3.92 percent of Discovery, a holding that amounts to roughly 25.95 million shares. The recent rally pushed the market value of his stake from R5.65 billion ($332.62 million) to R5.97 billion ($351.15 million), reflecting a gain of R314.83 million ($18.53 million).

The latest surge adds to a series of gains recorded earlier in the year. Between Oct. 10 and 25, Swartzberg’s holdings appreciated by $16.68 million, rising from R5.48 billion ($316.84 million) to R5.76 billion ($333.52 million).

Discovery’s market performance and investor sentiment

Discovery Limited is one of South Africa’s leading financial services and health insurance groups, offering products that span medical aid, life insurance, investment management, and banking. It is best known for its Vitality wellness program, which has been adopted globally through partnerships in markets including the United Kingdom, China, and the United States.

On the JSE, Discovery’s shares have gained 5.57 percent since Oct. 31, increasing from R217.79 ($12.82) to R229.92 ($13.53). The rally lifted its market cap to $8.9 billion, signaling a renewed sense of confidence among investors after a period of slower growth earlier this year.

Recovery gains strength in 2025

Discovery’s stock has gone up 18.05 percent this year, which means that a $100,000 investment at the start of the year would now be worth about $118,050. For Swartzberg, the recent rally reinforces the long-term value of his stake and underscores his continued confidence in the business he helped build—one that remains a cornerstone of South Africa’s financial landscape.