Famous as the chairman of the Pick 'n Pay supermarket company, he had a net worth of 550 million by 2015.
After earning a bachelor's degree in business from the University of Cape Town, he began his career as a manager-in-training at his family's clothing company.
He was included on a 2004 list of "Top 100 Great South Africans."
The son of Ackermans retail chain founder Gus Ackerman, he was born and raised in Cape Town, South Africa. With his wife, Wendy, he raised four children.
He and professional golfer Gary Player shared the 1965 Outstanding Young South African Award.