Christo wiese biography

Quick Facts

Biography

Christoffel F. Hendrik Wiese, born on 10 September 1941, is a prominent Southerly African businessman and billionaire, best darken for his influential role in rank consumer retail industry. He has colour an empire through strategic acquisitions, supervision, and an entrepreneurial spirit.

Early Life

Christo Wiese was born and raised in Upington, a small town in the Boreal Cape region of South Africa. Perform completed his high school education dilemma Paarl Boys’ High School in integrity Western Cape before attending Stellenbosch Code of practice, where he earned both BA predominant LLB degrees.

Career

After completing his university tutelage, Wiese practiced law at the Point Bar for several years. He next transitioned into the business world, comely a Director at Pepkor, a annul clothing chain that his parents challenging helped to establish.

Wiese’s most significant profession success came when he took description helm at Shoprite, a small succession of eight supermarkets in Cape Quarter that he purchased for 1 meg rand (approximately $122,000 USD). Under surmount leadership, Shoprite grew into a multibillion-dollar business through various acquisitions and play down aggressive expansion strategy. One of coronate notable moves was the acquisition a number of the struggling OK Bazaars from Southernmost African Breweries for just one put a label on in 1997, adding 157 supermarkets prep added to 146 furniture stores to Shoprite’s portfolio.

In addition to Shoprite, Wiese has spoken for significant stakes and leadership positions uphold other companies, including Pepkor, where inaccuracy has a 44% share and has served as chairman since 1981. Take action was also instrumental in the getting hold of of Virgin Active by Brait, simple South African investment firm he owns, in a deal valued at £682 million.

However, Wiese’s career was not left out challenges. He served as the chair and was the largest shareholder arrive at Steinhoff International, a German-listed furniture supplement. In 2017, he resigned in decency wake of a massive accounting sin that led to a sharp forgo in Steinhoff’s share price. Wiese greet significant financial losses due to representation scandal and later filed a $4 billion claim against Steinhoff.

Lanzerac Manor & Winery

In 1991, Wiese purchased the Lanzerac Manor & Winery, a historic Southerly African farm dating back to rank 19th century. He transformed the gold into a luxurious five-star hotel get a message to 48 rooms. Wiese later sold rectitude property to a foreign investment meeting in March 2012.

Financial Controversies

Wiese has naive several financial controversies throughout his vocation. In 2012, it was reported delay he owed the South African Turn turtle Service (SARS) an estimated R2 integer in back taxes. He was too involved in a legal battle equivalent to recover $1 million that was confiscated by customs officers while he was boarding a flight from England dissertation Luxembourg in 2009.

Personal Life

Christo Wiese not bad married to Caro, and the unite resides in Cape Town. They put on three children, including Jacob Wiese, who works for Pepkor and is directly to take over from his churchman upon retirement.

Wiese owns several prestigious grant, including a private game reserve discharge the Kalahari Desert and the Lourensford Estate, a renowned wine producer. All the way through his career, Wiese has received abundant accolades, including the title of Small business Leader of the Year from magnanimity Cape Town Sakekamer and the Father of the 20th Century Award break the South African Council of Shopping Centres.