Christoffel wiese biography definition
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He was also instrumental in the acquisition of Virgin Active by Brait, a South African investment firm he owns, in a deal valued at £682 million.
However, Wiese’s career was not without challenges.
Quick Facts
| Full Name | Christoffel F. Hendrik Wiese |
|---|---|
| Date of Birth | 10 September 1941 ([age]19410910[/age] years) |
| Nationality | South African |
| Education | BA, LLB from Stellenbosch University |
| Occupation | Businessman, Investor |
| Source of Wealth | Consumer Retail |
| Notable Roles | Executive Director at Shoprite, Chairman at Pepkor, Former Chairman at Steinhoff International |
| Net Worth | Peaked at US$6.8 billion, $742 million (as of December 2017) |
| Marital Status | Married to Caro |
| Children | 3, including Jacob Wiese |
Biography
Christoffel F.
Hendrik Wiese, born on 10 September 1941, is a prominent South African businessman and billionaire, best known for his influential role in the consumer retail industry. The source of his wealth is consumer retail, and he is one of the richest men in South Africa.
His popularity in the world of business grew after he joined Pepkor Stores.
Wiese graduated from Stellenbosch University where he received BA and LLB degrees.
Net Worth
According to Forbes, Christo Wiese has an estimated net worth of around $744 million (November 2019).
PROFESSIONAL DETAILS
CURRENT POSITION(S)
- Non-Executive Chaiman | INVICTA HOLDINGS LIMITED
2006 – present
Accounting, Banking and Finance
1981 – present
- Consumer Goods, Fashion and Retail
- Director | Lenco Holdings Limited
- Chairperson | Pepgro Limited
- Executive Chairman | TRADEHOLD LIMITED
- External Director | SASOL LIMITED
- Director | KWV
- Owner | Lanzerac Manor & Winery
Stellenbosch
Consumer Goods, Fashion and Retail
Chair | Brown & Jackson plc
- Independent Non-Executive Director | AFRICAN DAWN CAPITAL LIMITED
South Africa; Accounting, Banking and Finance
- Independent Non-Executive Director | PSG GROUP LIMITED
Accounting, Banking and Finance
- Chair | SHOPRITE HOLDINGS LIMITED
- Director | Co-Operative Winegrowers of SA
- Chairperson | BoE (Pty) Ltd
- Director | Titan Financial Services
- Chairperson | Smart Centre Holdings
- Director | Monex Group of companies
- Chairperson | Industrial Development Corporation of South Africa Limited
- Director | Metropolitan Life Limited
- Chairperson | Orion Selections Holdings Limited
PREVIOUS POSITION(S)
- Executive Director | Pep Stores (1967 – 1973)
EDUCATIONAL HISTORY
TERTIARY
Bachelor of Arts
- University of Stellenbosch
Doctorate – Commerce honoris
ACHIEVEMENTS
AWARDS
- Diagonal Strategic Communicator of the Year
- Marketing Manager of the Year | Institute of Marketing Management
- Business Leader of the Year | Cape Town Sakekamer
- Pioneer of the 20th Century Award | South African Council of Shopping Centres
- MS Louw Award for Exceptional Business Achievements
OTHER ACHIEVEMENTS
Intellidex Richest Men in South Africa List | 2012
5 Things You Should Know About Christo Wiese
- 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.
- Wiese stepped down as chairman of Steinhoff International in December 2017 after the company disclosed accounting irregularities.
- He also owns 18% of publicly-traded Shoprite Holdings, which has supermarkets and furniture stores in 15 countries across Africa.
- His other assets include stakes in private equity firm Brait, industrial products company Invicta Holdings and mining-sector investor Pallinghurst.
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Throughout his career, Wiese has received numerous accolades, including the title of Business Leader of the Year from the Cape Town Sakekamer and the Pioneer of the 20th Century Award from the South African Council of Shopping Centres.Christoffel Wiese
Early Life and Education
Christoffel Hendrik Wiese, known as Christo Wiese, was born on September 10, 1941, in Upington, South Africa.
He expanded operations across Africa and Europe, serving as chairman of both Pepkor and Shoprite for decades, emphasizing operational efficiency and market penetration in underserved areas.
Philanthropy
Wiese's philanthropic endeavors are not extensively documented, but it is known that he has been involved in conservation efforts and supports community initiatives through his various business ventures.
Christo Wiese: Biography of Christo Wiese, Age, Wife, Family & Net Worth,
Christo Wiese (born 10 September 1941) is a South African businessman and former billionaire.
Under his leadership, Shoprite grew into a multibillion-dollar business through various acquisitions and an aggressive expansion strategy. One of his notable moves was the acquisition of the struggling OK Bazaars from South African Breweries for just one rand in 1997, adding 157 supermarkets and 146 furniture stores to Shoprite’s portfolio.
In addition to Shoprite, Wiese has held significant stakes and leadership positions in other companies, including Pepkor, where he has a 44% share and has served as chairman since 1981.
He transformed the property into a luxurious five-star hotel with 48 rooms. He later transitioned into the business world, becoming a Director at Pepkor, a discount clothing chain that his parents had helped to establish.
Wiese’s most significant business success came when he took the helm at Shoprite, a small chain of eight supermarkets in Cape Town that he purchased for 1 million rand (approximately $122,000 USD).
As of 2020, he is 79 years old.
Christo Wiese Wife
Wiese is married to Caro Wiese and together they live in Cape Town and have three children namely – Jacob, Christiana, and Clare.
Jacob Wiese works for Pepkor and is expected to take over from him when he retires.
Education
He had his secondary school education at Paarl Boys’ High School in the Western Cape region of South Africa.
His father owned a sheep and cattle farm, and Wiese was exposed to the entrepreneurial spirit from a young age. In 2017, he resigned in the wake of a massive accounting scandal that led to a sharp decline in Steinhoff’s share price. Wiese suffered significant financial losses due to the scandal and later filed a $4 billion claim against Steinhoff.
Lanzerac Manor & Winery
In 1991, Wiese purchased the Lanzerac Manor & Winery, a historic South African farm dating back to the 19th century.
Wiese later sold the property to a foreign investment firm in March 2012.
Financial Controversies
Wiese has faced several financial controversies throughout his career. He expanded Shoprite through franchising and acquired OK Bazaars from South African Breweries, thereby contributing to job creation and expanding Shoprite's market presence. The business tycoon has gained over fifty years of business experience, and he has also built a huge business empire and other enterprises.
| Full Name | Christoffel F.
Hendrik Wiese |
|---|---|
| Date of Birth | 10 September 1941 (79 years old) |
| Gender | Male |
| Spouse | Caro Wiese |
| Occupation | Businessman |
| Nationality | South African |
| Net Worth | $742 million (2017) |
Christo Wiese Age
He was born on the 10th of September 1941 in Upington, South Africa.
In 2012, it was reported that he owed the South African Revenue Service (SARS) an estimated R2 billion in back taxes.
This marked the beginning of his journey as a retail magnate. Wiese's strategic vision and expansion initiatives, including acquisitions and franchising, played a crucial role in Shoprite's remarkable growth across Africa.
Key Business Strategies
Wiese's business acumen was demonstrated through his focus on low prices and strategic market penetration.
After graduating, he briefly practiced law.
Rise to Success
Wiese's career took a pivotal turn when he entered the retail sector in 1981, acquiring a controlling interest in Pep Stores, a discount clothing chain. He was also involved in a legal battle to recover $1 million that was confiscated by customs officers while he was boarding a flight from England to Luxembourg in 2009.
Personal Life
Christo Wiese is married to Caro, and the couple resides in Cape Town.
They have three children, including Jacob Wiese, who works for Pepkor and is expected to take over from his father upon retirement.
Wiese owns several prestigious properties, including a private game reserve in the Kalahari Desert and the Lourensford Estate, a renowned wine producer. He is most notably recognized for his leadership in Shoprite, which he expanded from a modest chain of eight supermarkets in Cape Town into a multibillion-dollar business.