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South African billionaire Christo Wiese has recorded a significant bump in his fortune in 2023, as the market value of his stake in Shoprite Holdings increased by more than $100 million thanks to a year-to-date surge in the company’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, the market value of Wiese’s 11.63-percent stake in Shoprite Holdings has increased by R1.99 billion ($104.59 million) from R14.26 billion ($749.24 million) on January 1 to R16.25 billion ($853.83 million) at the time of writing.
Shoprite Holdings Limited is Africa’s largest and leading food retailer in South Africa. The company employs over 142,000 people across 2,989 locations on the African continent.
Wiese, a South African billionaire who played an instrumental role in Shoprite’s growth, owns 11.63 percent of the company, which is valued at more than $900 million.
In addition to his common stock, the tycoon owns 305.6 million non-convertible, non-participating, no-par value deferred shares, accounting for 32.2 percent of Shoprite’s voting rights.
Since the start of the year, Shoprite Holdings shares on the Johannesburg Stock Exchange have experienced a substantial bump of 13.96 percent, climbing from R226.00 ($11.83) on January 1 to R257.55 ($13.48) at the time of writing, thus pushing its market capitalization above R150 billion ($7.8 billion).
As a result of the double-digit percent bump in Shoprite’s shares, the market value of the stake held by Wiese has increased by R1.99 billion ($104.59 million) since the start of the year, climbing from R14.26 billion ($749.24 million) on Jan. 1 to R16.25 billion ($853.83 million) at the time of writing.
The substantial year-to-date gain of more than $100 million in Wiese’s stake cements his position as not only one of the wealthiest investors on the Johannesburg Stock Exchange but also one of the most affluent billionaires in Africa, boasting a net worth of $1.1 billion, according to Forbes.
