BillionaireNet
Wiese
C
Rank #2067
SOUTH AFRICAFashion & Retailretail

Christoffel Wiese

Net Worth
$1.866B
+0.26% (24h)
Christoffel Wiese is a South African retail magnate, and his net worth is approximately $1.8 billion as of 2024. Born in 1941, Wiese's career began in law, transitioning to the retail sector where he built a vast empire. His wealth originates from his investments in the retail industry, most notably through his leadership in growing Shoprite from a small chain to a multinational giant. His career has been marked by both significant achievements and controversies, including the Steinhoff accounting scandal, which severely impacted his wealth, but he has since rebuilt his fortune. Wiese is known for his strategic vision and hands-on approach to business, creating jobs for millions.

The Full Dossier

Early Life and Education

Christoffel Hendrik Wiese was born in Upington, South Africa, on September 10, 1941. His father was a sheep and cattle farmer who also owned a car dealership. Wiese attended Paarl Boys' High School and later studied at Stellenbosch University, earning a Bachelor of Arts and a Bachelor of Laws degree in 1967.

Rise to Success

Wiese began his career in the family's discount clothing chain, Pepkor, in 1967 and later became the chairman in 1981. Under his leadership, Pepkor expanded significantly. A key milestone was the acquisition of Shoprite, which Wiese transformed from a small chain of eight supermarkets into a multibillion-dollar retail empire. He grew Shoprite into the largest retailer in Africa, with over 2,900 stores.

Key Business Strategies

Wiese's business strategy focused on offering low prices to customers. He expanded the company through strategic acquisitions and expansion across Africa. Wiese also diversified his investments into other sectors, including British companies.

Philanthropy

The search did not reveal specific philanthropy amounts, but Christoffel Wiese's contributions to job creation are significant. Wiese has positively impacted thousands of people in South Africa and across the African continent through Shoprite.

Career Timeline

2023

Sold Shares in Shoprite

Sold shares in Shoprite for approximately $49.45 million.

2022

Reclaimed Dollar-Billionaire Status

Regained his dollar-billionaire status after the Steinhoff settlement.

2020

Retired as Shoprite Chairman

Stepped down as the chairman of Shoprite.

2017

Steinhoff Scandal

Stepped down as chairman of Steinhoff due to an accounting scandal.

2015

Steinhoff Deal

Sold Pepkor to Steinhoff International.

1981

Acquired Shoprite

Acquired Shoprite, a small chain of retail outlets.

1981

Chairman of Pepkor

Became the chairman of Pepkor.

1967

Joined Pepkor

Started as a director at Pepkor, a discount clothing chain founded by his parents.

Philanthropic Impact

EmploymentUndisclosed

Job Creation

Created jobs for millions through Shoprite and other ventures.

Wealth Trajectory