Raymond Ackerman

Raymond Ackerman Net Worth : $500 Million

Ackerman was born on March 10, 1931 in South Africa and attended the University of Cape Town, where he graduated with a Bachelor of Commerce. He bought Pick N Pay Group, which is a successful supermarket chain with about 870 stores in South Africa, Australia and Zimbabwe. Ackerman remained as chairman of the company until 2010 when he voluntarily stepped down. Even though he does not have executive powers at Pick N pay, Ackerman still owns 53% of the stock. 

Ackerman is also renowned for his philanthropic activities. Today, he is ranked among the wealthiest people in South Africa, with an estimated net worth of $500 million. He is the 10th wealthiest person in South Africa, and the 38th wealthiest person in Africa. 

Business Involvements

At the age of 20 (in 1951), Ackerman became part of the Greatermans Group in the Ackermans Division and assumed the post of Trainee Manager. Ackermans was founded immediately after the First World War by Ackerman’s father, but later on sold the company to Greatermans Group in the early 1940s. In the due course, he was offered a post at Greatermans head office in Johannesburg. 

In early 1950s, Ackerman was put in charge of Checkers, a food retailer that Greatermans chairman, Norman Herber, decided to open. This is where Ackerman started to make a reverberating success out of the business. At the age of 35 (in 1966), he was promoted to the position of Managing Director of a total of 85 Checkers stores. Unfortunately, he was fired the same year. 

After his firing, Ackerman took a bank loan and added it to his severance pay and managed to buy four stores in Cape Town. These four stores were trading under the name Pick ‘n Pay. When asked what it took for him to start Pick ‘n Pay, Ackerman’s response was - “10 percent capital and 90 percent guts”. Under his headship, this retail brand has grown into one of the largest supermarket chains in Africa, with 14 hypermarkets, 179 franchised outlets and over 124 supermarkets. The Pick ‘n Pay group now has over 30,000 employees in various South African Countries. 

Philanthropy 

Ackerman is a philanthropist and he is committed in causes related to education and health. He founded The Ackerman Family Educational Trust that offers support to 60 university students, as well as caters to the physically and mentally disabled. 

Achievements and Awards

In 1965, Ackerman was presented with the Outstanding Youth South African Award. In 2004, he was voted 79th in the Top 100 Great South Africans. The synergos Institute Southern African Office awarded Ackerman with the 2010 David Rockefeller Bridging Leadership in Africa Award. His award was presented to Ackerman and his wife, Wendy.

Personal Life

Ackerman is married to Wendy Ackerman, with whom he has four children.

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