South Africa’s Ackerman family gains $14.25 million as Pick n Pay shares rebound

Key Points

• The Ackerman family's stake in Pick n Pay surged R263.07 million ($14.25 million) in nine days as the grocer's stock rebounded.
• Pick n Pay's shares rose 7.54% on the JSE, lifting its market cap past $1.2 billion and delivering strong gains to investors.
• The family’s stake grew from R3.49 billion ($188.93 million) to R3.75 billion ($203.18 million), reinforcing their influence in South Africa’s retail market.

South Africa’s wealthy Ackerman family, founders of Pick n Pay, has seen a notable rise in their fortune as the market value of their stake in the country’s second-largest grocer bounced back.

The family holds a 16.71-percent stake in Pick n Pay, amounting to 124.68 million shares. In just nine days, they gained R263.07 million ($14.25 million), clawing back some of last year’s losses.

Between Jan. 1 and Dec. 31, 2024, the value of their stake fell from R4 billion ($213.8 million) to R3.81 billion ($211.58 million), wiping out $19.84 million. Now, with shares on the rise, the Ackermans are regaining lost ground.

Pick n Pay shares surge 7.5%, market cap surpasses $1.2 billion

Founded in 1967, Pick n Pay has cemented its status as a retail powerhouse in Africa, operating more than 2,000 stores across eight countries. It remains South Africa’s second-largest grocer, trailing only Shoprite, which is partly owned by billionaire Christo Wiese.

Over the past nine days, Pick n Pay’s stock on the Johannesburg Stock Exchange  has surged 7.54 percent, climbing from R27.98 ($1.52) on Feb. 3 to R30.09 ($1.63). This rally has propelled the company’s market capitalization above $1.2 billion, delivering substantial gains to investors.

Ackerman family’s wealth rises as retail giant rebounds

The recent rise in Pick n Pay’s share price has boosted the Ackerman family’s stake from R3.49 billion ($188.93 million) on Feb. 3 to R3.75 billion ($203.18 million).

This increase not only strengthens their standing as one of the wealthiest investors on the JSE but also highlights their continued influence in South Africa’s retail sector.

With Pick n Pay making a strong comeback, the Ackerman family is well-positioned to gain from the company’s strategic efforts and ability to navigate the competitive retail market—reinforcing their long-standing legacy in African business.