Rank #2234
Christoffel Wiese
Net worth $1.9B
retail · South Africa
- Born
- Sep 10, 1941
- Age
- 84
- Source
- retail
- Residence
- Cape Town
- Citizenship
- South Africa
- Marital status
- Married
- Children
- 3
- Education
- Bachelor of Arts/Science, University of Stellenbosch; LLB, University of Stellenbosch
Net worth over time
Biography
- Christoffel Wiese built his Pepkor retail empire by offering bargain prices in South Africa, later expanding into other African countries.
- In 2015, South Africa-based furniture retailer Steinhoff International spent $5.7 billion in cash and stock to acquire Pepkor.
- He stepped down as Steinhoff chairman in December 2017 after the company disclosed accounting irregularities. Its share price plummeted and Wiese lost his billionaire status.
- Wiese regained his 9-figure fortune 2022 when he settled his dispute with Steinhoff for cash and stock, including a 5% stake in Pepkor.
- His most valuable asset is Shoprite, but he also holds stakes in real estate firm Collins Property Group, investment holding company Brait and industrial products distributor Invicta Holdings.
- In March 2023, Brait spun off food manufacturer Premier Group in an IPO on the Johannesburg stock exchange; Wiese owns about 47% of the shares.
- Wiese's father owned a sheep and cattle farm and a car dealership.
- Wiese studied law at Stellenbosch University but switched gears to go into business.
Financial assets
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