Christo Wiese, 78, calls it a day on his career after being hit by Steinhoff scandal and then lockdown
Christo Wiese, once SA’s richest man, has swapped his office in an industrial area of Cape Town for a view of the Atlantic Ocean.
Wiese, the biggest individual shareholder in Shoprite Holdings, Brait and Invicta Holdings, earlier this year stopped taking the 40-minute drive in his Lexus Landcruiser from his house in Clifton to minimise the risk of catching the coronavirus. Its been a tough four years for Wiese, now valued at just $255m according to Bloomberg calculations.
That’s after Wiese secured a €1.6bn margin loan from them in 2016 to participate in a Steinhoff equity raise to help pay for its acquisition of Mattress Firm and Poundland. Steinhoff shares were pledged as collateral.
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