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South African billionaire Christo Wiese, who played a central role in building Shoprite Holdings into Africa’s largest retailer, has seen the value of his stake climb back toward the $1 billion mark as the company’s shares rallied strongly on the Johannesburg Stock Exchange.
Wiese, who stepped down as Shoprite’s chairman in November 2020, remains a major shareholder with a 10.67 percent stake, equal to 63,118,920 shares. Over the past four weeks, the value of his holdings has surged by R1.36 billion ($76.92 million), climbing from R16.28 billion ($919.14 million) to R17.65 billion ($996.05 million).
The rebound marks a significant turnaround for the billionaire investor. Just weeks earlier, Shoprite’s share price came under pressure, wiping more than $76 million off Wiese’s stake between late May and mid-June.
Shoprite’s strength in African retail
Shoprite, with more than 3,500 stores and 150,000 employees across Africa, has built its reputation as the continent’s leading retailer. Steady earnings, efficient operations, and resilient consumer demand have kept investors confident, allowing the company to hold its ground even in volatile markets.
Its share price climbed from R258 ($14.56) on August 6 to R279 ($15.78), lifting Shoprite’s market value to more than $9.2 billion. The rebound not only rewarded shareholders but also pushed Christo Wiese’s stake close to the $1 billion mark. Wiese, who also holds major positions in Collins Property Group, Brait, Invicta Holdings, and Premier Group, continues to stand out as one of South Africa’s most influential business figures.
Shoprite shares down year-to-date
Shoprite shares have climbed in recent weeks, but they are still down 5.06 percent since the start of the year, showing how unsettled the JSE has been. A $100,000 investment in January 2025 would now be worth about $94,940, a paper loss of $5,060.
Even so, Shoprite continues to rank among the most valuable companies on the exchange, and many investors believe its solid business model will help it ride out the volatility and reward patient shareholders over time.
