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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