Rank 2255
Christoffel Wiese
1.3B
retail
Cape Town
South Africa
- 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.
- Christoffel Wiese built his Pepkor retail empire by offering bargain prices in South Africa, and expanded 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.