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South Africa’s Ackerman family, among the wealthiest, has experienced a notable wealth surge over the past 27 days, totaling millions of dollars. Their investment in Pick ‘n’ Pay has rebounded, showing significant growth despite earlier losses this year.
According to market data tracked by Billionaires.Africa, the family’s stake in Pick ‘n Pay has increased by R551.07 million ($29 million) recently. This growth is linked to the recent upswing in the retailer’s shares on the Johannesburg Stock Exchange (JSE).
Pick ‘n’ Pay shares surge 20.4-percent, market cap surpasses $675 million
Founded in 1967, Pick ‘n Pay is a key player in Africa’s retail sector, boasting a network of more than 2,000 stores across eight African countries. As the second-largest retailer in the nation, it trails behind Shoprite Holdings, a retail giant partly owned by South African billionaire Christo Wiese.
Since Jan. 15, Pick ’n Pay shares have surged by 20.4 percent, climbing from R21.67 ($1.139) to R26.09 ($1.327) at the time of reporting. The company’s market capitalization has now exceeded the $675 million mark, leading to significant gains for shareholders, including the Ackerman family.
Ackerman family’s wealth surpasses $170 million as Pick ‘n’ Pay shares soars
The Ackerman family, known for their wealth and diverse investments, presently holds a significant 25.53-percent stake in Pick‘n Pay, equivalent to 124,677,238 shares.
The recent increase in Pick‘n Pay’s shares has led to a R551.07-million ($29 million) surge in the market value of the Ackerman family’s stake over the past 27 days.
The Ackerman family’s combined holdings rose in market value from R2.70 billion ($142.06 million) on Jan. 15 to R3.25 billion ($171.04 million) now. This solidifies the Ackerman family’s standing as significant investors on the JSE.
