Another South African becomes a dollar-billionaire – and Adrian Gore is not far behind
Dis-Chem founder Ivan Saltzman and his family are now worth $1.3 billion after being ranked by the Bloomberg Billionaires Index for the first time.
The milestone places Saltzman alongside some of South Africa’s wealthiest businesspeople. This includes Johann Rupert, Nicky Oppenheimer, Koos Bekker, Patrice Motsepe, Michiel Le Roux and Christo Wiese.
Forbes’ separate billionaire ranking also includes the Mouton family, which founded PSG and was an early investor in Capitec, and Paul van Zuydam, the owner and president of Le Creuset.
Saltzman’s entry onto the list comes at the end of a remarkable career that began nearly five decades ago
At the end of June 2026, the 76-year-old retired as Dis-Chem’s chairman, marking the end of an era for the pharmaceutical giant.
He and his wife, Lynette, both qualified pharmacists, launched the business in 1978 after investing R10,000 to purchase a small pharmacy in Mondeor.
Saltzman had worked there as a locum pharmacist and believed it could be run more effectively. That decision would lead to the creation of one of South Africa’s largest pharmacy retail groups.
Over the following decades, Dis-Chem expanded steadily. The company introduced its private-label product range in 1997 and established the Dis-Chem Foundation in 2006.
By the time it listed on the Johannesburg Stock Exchange in 2016, the retailer had grown to 100 stores and was generating annual revenue of R15.5 billion.
At the time of the listing, Saltzman described the move as “an important next phase” in the company’s development, while remaining committed to leading the business alongside his wife.
Dis-Chem has continued to expand since then. By 2026, it operated 330 stores, comprising 285 pharmacies and 45 baby outlets, while its market capitalisation had grown to R28.48 billion.
Although Saltzman has stepped down as chairman, the founding family remains deeply invested in the company.
Before his retirement, he and Lynette transferred 217 million Dis-Chem shares to two of their sons, ensuring the family continues to own more than a quarter of the JSE-listed retailer.
Another South African is closing in on the billionaire’s list
While Saltzman has now secured his place among South Africa’s dollar-billionaires, another prominent business leader appears to be closing in on the same milestone.
Discovery co-founder and chief executive Adrian Gore has seen his personal fortune rise sharply this year as investors have rewarded the financial services group’s strong performance.
In less than six months, Gore’s wealth has increased by approximately R2.44 billion, or about $125.6 million, as Discovery’s share price rallied on the JSE.
His 6.69% shareholding in the company is now valued at close to $1 billion, putting him within reach of joining the exclusive billionaire club if Discovery’s strong momentum continues.
The company’s recent financial performance has helped fuel the rally. Discovery’s earnings have climbed from roughly R7.5 billion to R9.8 billion, reinforcing investor confidence in the group’s long-term growth prospects.
The surge in the share price has also lifted Discovery’s market value to more than $11 billion, or around R183 billion, strengthening its position as one of the largest listed companies on the JSE.
Market analysts have noted that if Discovery’s shares continue to rise and hit projected price targets, Gore’s net worth could soon exceed $1 billion.
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