Biography
Ivan Saltzman (born in 1950) is a South African business magnate and the co-founder of the corporate retail pharmacy group Dis-Chem.
The pharmacy group is operational in Namibia, South Africa, and Botswana. It specializes in beauty, health food, sports supplements, and health and well-being.
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| Quick Facts | |
| Full Name: | Ivan Saltzman |
| Born: | 1950 (age 71 years) |
| Place of Birth: | Port Elizabeth, Eastern Cape |
| Nationality: | South African |
| Alma mater: | Johannesburg School of Pharmacy |
| Spouse: | Lynette Saltzman |
| Children: | 3 |
| Occupation: | Businessperson |
| Company: | Dis-Chem |
| Net Worth: | over $1 billion |
Early Life
Ivan Saltzman was born in 1950 in South Africa. He grew up in Port Elizabeth, Eastern Cape, South Africa. In 1974, he qualified as a pharmacist at the Johannesburg School of Pharmacy.
Career
After graduating from school, he worked in Mondeor, south of Johannesburg. He offered to buy the business since he had many profitable ideas, and the owner agreed to sell.
When he acquired the business, his wife resigned from her job to join him. They implemented their business ideas and put them to the test.
Ivan has been in the business for over forty years and entered when the market was competitive and fragmented.
At that time, people perceived the pharmaceutical business to be risky and expensive. Ivan saw potentials that others feared were too risky to invest.
In 1978, he and his wife launched their first pharmacy in Mondeor with an R10 000 capital investment. Dis-Chem is now one of the most successful privately owned pharmacy retail groups.
Though the early days were not easy, Dis-Chem broke even in its first year with a revenue of R84 000.
Eventually, the company had its breakthrough in 1982. After opening a location at the Randridge Mall, Randburg, north of Johannesburg, many competing businesses couldn’t survive. In the nineties, the family continued to expand the business.
According to News24, in Feb 2022, the Saltzman sold a total of 782 689 shares at R47 million. Later in the week, he disposed of another 517 311 shares.
CEO Ivan Saltzman and his wife started the family-owned business in 1978 and listed it on the Johannesburg Stock Exchange (JSE) in 2016.
Dis-Chem
The retail pharmacy group has over 165 stores in South Africa, 4 in Namibia, and 1 in Botswana. and 18,000 employees. It has stores in neighboring countries like South Africa and Botswana.
The family owns over 50% of the company, which has grown to one of the top retailers of health products. It records annual sales of over R15 billion. The company shares opened at R18.50.
Personal Life
Ivan Saltzman and his wife Lynette Saltzman met at the university in a pharmacy class. They were doing a science experiment, and she borrowed an eraser.Â
Eventually, they started dating and got engaged in their final year. The couple has three sons. Ivan spends his free time reading and with his family.
Salary
In 2019, Business Tech reported Dis-Chem paid it’s executive directors a combined R34 million. Non-executive directors received R4.9 million.
As CEO, Ivan Saltzman received R12.8 million, and his wife, managing director Lynette Saltzman, was paid R10.4 million.
Net Worth
Ivan and his wife Lynette Saltzman have built a family business that will benefit generations. It sells health, beauty, medications, and sports supplements.
According to Briefly News, they have a net worth of over $1 billion as of October 2022.