South African billionaire Christo Wiese has witnessed a significant surge in his wealth, with his stake in Shoprite Holdings, Africa's largest retailer, increasing by $107 million thanks to the recent rally in the retailer's share price on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa , Wiese's stake in Shoprite has soared by R1.93 billion ($107.3 million) over the past 53 days, pushing his stake further above $1.1 billion. This trails previous gain of $153.66 million in June , reflecting sustained interest.
Shoprite shares surge, pushing market cap towards $10 billionShoprite Holdings , South Africa's leading grocer and Africa's largest retail conglomerate by store count, operates over 3,600 outlets and employs more than 150,000 people across the continent.
Currently ranked as the 15th most valuable company on the JSE, Shoprite has seen its share price rise by 10.1 percent, climbing from R279.01 ($15.5) on June 27 to R307.35 ($17.08). This increase has brought its market capitalization close to the $10 billion mark.
