South Africa’s Saltzman family sees $45 million wipeout as Dis-Chem shares plunge

Key Points

• The Saltzman family’s stake in Dis-Chem Pharmacies has lost $45.37 million in a month as shares slid 9.58% on the JSE.
• The pharmacy giant’s stock has fallen 14.91% this year, reflecting broader pressures in South Africa’s pharmaceutical sector.
• The family’s 29.3% stake in Dis-Chem is now worth $428 million, down from $473.47 million just a month ago.

The Saltzman family, one of South Africa’s wealthiest, has taken a significant hit as the value of their stake in Dis-Chem Pharmacies dropped by $45.37 million. The decline follows a recent slump in the company’s shares on the Johannesburg Stock Exchange (JSE).

Wealthy family’s healthcare stake drops again

With a 29.3-percent stake in the Gauteng-based healthcare group—amounting to 252,066,319 shares—the family has seen their investment shrink by R829.3 million ($45.37 million) in the past month, bringing the total market value of their holdings down to $428 million.

This latest drop comes after a $26.33 million loss earlier in the year. Between Jan. 7 and Jan. 20, the family’s stake fell from R9.39 billion ($500.43 million) to R8.89 billion ($474.1 million), marking a rough start to the year for the wealthy South African family.

Dis-Chem stock drops, market value falls

Dis-Chem Pharmacies, a leading retail pharmacy and healthcare group in South Africa, has grown into one of the country’s top names in retail healthcare since Lynette and Ivan Saltzman founded it over four decades ago. The company offers a wide range of services, including dispensaries, family clinics, wound care clinics, and extensive self-medication centers.

Over the past month, Dis-Chem’s stock has taken a hit, dropping 9.58 percent. Shares have fallen from R34.33 ($1.88) on Feb. 7 to R31.04 ($1.70) today, wiping out market value and dealing a heavy blow to shareholders.

Saltzmans lose millions as Dis-Chem drops

Dis-Chem’s recent stock drop has wiped R829.3 million ($45.37 million) off the Saltzman family’s combined stake over the past month, bringing it down from R8.65 billion ($473.47 million) on Feb. 7 to R7.82 billion ($428.09 million) today. Despite the hit, the family remains a dominant force in South Africa’s healthcare and pharmacy retail sector.

So far this year, Dis-Chem’s shares have fallen 14.91 percent, reflecting broader struggles in the pharmaceutical industry. For context, a $100,000 investment at the start of the year would now be worth $85,090—a $14,910 loss.