What Christo Wiese learnt from Steinhoff
A new edition of Pieter du Toit’s ‘The Stellenbosch Mafia’ looks at the fallout between Johann Rupert and Christo Wiese
It’s no secret that there is bad blood between Richemont’s founder Johann Rupert and Shoprite’s former chair Christo Wiese.
But Wiese’s fall from grace since 2017 has been swift and sharp: he’d taken a large bet on Markus Jooste and Steinhoff, and the revelation of immense fraud at the retailer meant Wiese’s own personal stake in the company plunged by R59bn when Steinhoff crashed.
Wiese’s single-minded desire to be the richest man in SA caught up with him, according to Rupert...