Dis-Chem Founder Becomes South Africa’s Newest Dollar Billionaire

• Dis-Chem founder Ivan Saltzman and his family have officially joined the ranks of the world's dollar billionaires, with an estimated fortune of R23 billion after decades of building one of South Africa's biggest pharmacy groups
• The milestone comes just days after Saltzman retired as chairman of Dis-Chem, closing a remarkable chapter that began with a single pharmacy bought for just R10,000 nearly 50 years ago
• Saltzman now joins an exclusive club of South African billionaires that includes Johann Rupert, Nicky Oppenheimer, Patrice Motsepe and Christo Wiese

Dis-Chem founder Ivan Saltzman has officially become South Africa's newest dollar billionaire after he and his family were valued at approximately R23 billion by the Bloomberg Billionaires Index. The milestone, confirmed on 2 July 2026, follows decades of steady growth that transformed a small Johannesburg pharmacy into one of the country's largest healthcare and retail businesses.

According to Business Tech, the achievement also comes only days after the 76-year-old officially retired as chairman of Dis-Chem, ending nearly five decades at the helm of the company he built from the ground up.

Read also

Drake stakes huge sum of money on Canada to defeat Bafana Bafana

Joining South Africa's richest business leaders

Saltzman's entry onto Bloomberg's billionaire ranking places him among an exclusive group of South Africans whose fortunes have surpassed the billion-dollar mark. The list includes luxury goods billionaire Johann Rupert, mining magnate Nicky Oppenheimer, Patrice Motsepe, Naspers veteran Koos Bekker, Capitec co-founder Michiel Le Roux, and retail billionaire Christo Wiese.

Other South Africans featured on global billionaire rankings include members of the Mouton family, who founded PSG and helped launch Capitec, as well as Le Creuset owner Paul van Zuydam. According to reports, Discovery founder Adrian Gore is also closing in on billionaire status as the value of his financial services group continues to grow. Saltzman's inclusion highlights the continued ability of South African entrepreneurs to build globally significant businesses despite the country's challenging economic environment.

From one pharmacy to a national retail giant

The journey began in 1978, when Ivan and his wife Lynette Saltzman, both qualified pharmacists, purchased a small pharmacy in Mondeor, south of Johannesburg. The couple invested just R10,000 into the business after Ivan had previously worked there as a locum pharmacist. Believing the pharmacy could be operated more efficiently, they took the risk of buying the business themselves, a decision that would ultimately change South Africa's retail pharmacy landscape.

Read also

City of Johannesburg cracks down on illegal billboards from big brands

Over the following decades, Dis-Chem steadily expanded its footprint while introducing new healthcare and retail offerings. Today, Dis-Chem has evolved into far more than a pharmacy chain, offering everything from prescription medication and wellness products to beauty, baby, sports nutrition and household goods.

Rapid expansion after listing on the JSE

Dis-Chem entered a new era in 2016 when it listed on the Johannesburg Stock Exchange (JSE). At the time, the company operated around 100 stores and generated annual revenue of approximately R15.5 billion. The public listing gave the retailer access to additional capital while raising its profile among investors.

3 Other Briefly News stories about billionaires

• Wealthy Zimbabwean businessman Kudakwashe Tagwirei has donated a massive sum of money to help transport thousands of citizens back home.
• The African National Congress campaign for billionaire Patrice Motsepe to become the party’s president has been amplified.
• Johann Rupert’s business empire continued to grow in 2026, with Reinet reporting assets of over R127 billion.

Source: Briefly News