Discovery co-founder Adrian Gore gains nearly $40 million from stock rally

Adrian Gore, the South African insurance magnate and co-founder of Discovery Limited, has seen a substantial rise in his net worth following a sharp rally in the company’s share price on the Johannesburg Stock Exchange (JSE). 

Discovery co-founder’s fortune nears $700 million amid stock rally
Adrian Gore’s stake has climbed by nearly $40 million following a sustained rally in Discovery Limited shares on the Johannesburg Stock Exchange (JSE), pushing the South African insurance magnate closer to the $700 million mark. 

Gore, co-founder and CEO of Discovery, owns a 6.69% stake in the Sandton-based financial services group, equivalent to roughly 45.6 million shares. Over the past 41 days, Discovery’s share price has risen 5.82%, increasing the value of its holdings by R604.17 million ($38.04 million).

Discovery earnings fuel investor confidence
The rally comes after Discovery reported strong financial results, with headline earnings rising from R7.5 billion ($471.36 million) to R9.8 billion ($559.75 million). The growth reflects solid operational performance across its insurance and financial services businesses. 

Founded in 1992 by Gore and Barry Swartzberg, Discovery has evolved from a medical insurance provider into one of South Africa’s leading diversified financial services firms, with operations spanning long-term insurance, asset management and investment products.

Market capitalization climbs above $10 billion
The recent share surge has lifted Discovery’s market capitalization to approximately R166 billion ($10.42 billion), reinforcing its position as one of the Johannesburg Stock Exchange’s heavyweight financial stocks. 

As a result, the value of Gore’s stake has increased from R10.38 billion ($653.42 million) to R10.98 billion ($691.46 million), strengthening his standing among South Africa’s wealthiest business leaders. If Discovery shares reach a record R349 ($21.93), analysts say Gore could potentially cross the billionaire threshold.