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Christoffel Wiese

Christoffel Wiese

C. Wiese
0.76% | + $14.99M
$2 B ₹ 18,163 Cr
Real Time Net Worth #2042 Ranking as of 21 Feb 2026 By Forbes

More on Christoffel Wiese

Gender

Male

Age

84Y

Country

South Africa

Born On

September, 1941

Deceased

No

Relationship Status

Married

Children

3

Education

Stellenbosch University - Bachelor Of Laws

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Retail)

Primary Organization

Shoprite Holdings

Titles

Shareholder

Sources of Wealth

Shoprite, Pepkor

Industry

Retail, Food & Beverage, Investments

About Christoffel Wiese


C hristoffel "Christo" Wiese is a South African retail magnate who built a massive fortune over several decades. He is best known for building the Shoprite Group into Africa's largest food retailer. He also controlled the discount clothing and furniture retailer Pepkor. At his peak, he was one of the wealthiest people in Africa, with a sprawling retail empire and a significant investment portfolio.

However, Wiese's fortune took a catastrophic hit in 2017 with the collapse of the international furniture retailer Steinhoff International, in which he was the largest shareholder and chairman. After a massive accounting fraud was revealed, Steinhoff's stock price plummeted, wiping out billions of dollars of Wiese's personal wealth almost overnight. Despite this massive setback, he has retained a portion of his fortune, primarily through his stake in Shoprite and other investments, and remains a significant, though diminished, figure in South African business.

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Quick Reads


  • A South African retail tycoon who built Shoprite into the largest food retailer in Africa.
  • His fortune was decimated by the 2017 accounting scandal and collapse of Steinhoff International.
  • He was the largest shareholder and chairman of Steinhoff at the time of its collapse.
  • He also formerly controlled the discount retailer Pepkor.
  • Despite his losses, he retains a multi-billion dollar fortune from his remaining assets.

Early Life and Background


Christoffel 'Christo' Hendrik Wiese is a South African billionaire businessman, the founder and former chairman of Shoprite and Pepkor, two of Africa's largest retail chains. Born in Upington, South Africa, in 1941, his family owned a sheep and cattle farm and a car dealership. Wiese received a high-level education, earning a Bachelor of Arts (BA) and a Bachelor of Laws (LLB) from Stellenbosch University.

Trained as a lawyer, he initially practiced law at the Cape Bar. His entrepreneurial journey began when he acquired a controlling interest in Pep Stores in 1981 from a family member, a discount clothing chain founded by his parents. This early move into high-volume, low-cost consumer retail—a business Wiese later described as 'the Wal-Mart of Africa'—defined his career and wealth strategy.

Career Journey of Christoffel Wiese


Christoffel Wiese's career is marked by aggressive retail expansion and a focus on essential consumer goods. In 1986, Pepkor spun off its food interests, listing Shoprite Holdings Limited separately on the JSE. Wiese led Shoprite's growth from a modest eight-store operation into a sprawling multinational retail empire, acquiring OK Bazaars from South African Breweries and expanding to over 1,200 outlets, creating thousands of jobs across the continent.

Wiese was the long-time chairman and largest shareholder of Steinhoff International until its catastrophic collapse in December 2017 due to an accounting scandal. He resigned due to the scandal and his net worth plunged dramatically. Despite facing financial controversies (including a dispute with SARS over alleged back taxes), Wiese retains significant interests in both Shoprite and Pepkor, as well as in mining and real estate, ensuring his continued billionaire status through diversification and resilience.

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Christoffel Wiese's Timeline


1967:

Graduates with BA and LLB degrees from Stellenbosch University (Academic Achievement).

1981:

Acquires controlling interest in Pep Stores (Corporate Entry).

1986:

Shoprite Holdings Limited is listed separately on the JSE (Founding).

2006:

Serves as Executive Director of Shoprite and Chairman of Invicta Holdings (Executive Leadership).

2017 (December):

Resigns as Chairman of Steinhoff International due to the accounting scandal (Controversy).

Ongoing:

Retains major stakes in Shoprite and Pepkor (Financial Status).

Major Business Ventures and Investments


Christoffel Wiese's wealth is rooted in his founding of two of Africa's largest retail conglomerates and his diversified investments in tangible assets.

  • Shoprite Holdings (Founder & Major Shareholder): Africa's largest food retailer, built through aggressive franchising and acquisition (e.g., OK Bazaars).
  • Pepkor (Former Chairman & Major Shareholder): A massive discount clothing and general merchandise chain, the initial foundation of his retail empire.
  • Steinhoff International (Former Chairman): A significant former asset that collapsed in 2017, highlighting the high-risk element of his investment portfolio.
  • Tangible Assets: He retains significant interests in mining and real estate to diversify his wealth.

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Philanthropy and Social Impact


Christoffel Wiese's social impact is structural, stemming from the massive scale of Shoprite and Pepkor, which provide thousands of jobs and essential low-cost goods (retail and food) to millions of consumers across South Africa and the African continent. His companies are major sources of employment and economic activity.

His personal philanthropy supports various educational and community initiatives in South Africa. His commitment is to the stability of the South African retail sector, ensuring affordable access to essential consumer staples.

Fashion, Style, and Lifestyle


Christoffel Wiese maintains the professional, composed style of a successful South African industrialist. His attire is consistently formal, favoring tailored suits. His public persona is defined by his resilience and his mastery of high-volume, low-cost retail, earning him the description of the 'Wal-Mart of Africa'.

Residing in Cape Town, his luxury is the security of his multi-billion dollar fortune, despite the massive losses from the Steinhoff collapse. His life is dedicated to the long-term stewardship of his retail and real estate assets.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He described his business as the 'Wal-Mart of Africa,' built on the slogan: 'Low prices you can trust.'
  • His fortune took a dramatic hit after the collapse of Steinhoff International in 2017.
  • He transformed Shoprite from eight supermarkets into a sprawling multinational chain.
  • He holds degrees in Law and Arts from Stellenbosch University.
  • He was involved in a controversial international incident involving confiscated funds in 2009.
  • He retains significant interests in mining and real estate.
  • His family's first venture was co-founding Pep Stores in 1965.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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