Christoffel Wiese

Rank 2333

Christoffel Wiese

1.2B

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.