South African billionaire Christo Wiese, who played a central role in building Shoprite Holdings into Africas largest retailer, has seen the value of his stake climb back toward the 1 billion mark as the companys shares rallied strongly on the Johannesburg Stock Exchange.
Wiese, who stepped down as Shoprites 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, Shoprites share price came under pressure, wiping more than 76 million off Wieses stake between late May and mid-June.