Christofell Wiese Biography, Age, Career, & Net Worth is what you will read and know about in this article.
Christoffel F. Hendrik Wiese (born 10 September 1941) is a South African businessman and former billionaire. His source of wealth is consumer retail.
Christofell Wiese Biography, Age, Career, & Net Worth
|Born||10 September 1941|
Upington, South Africa
|Education||Paarl Boys’ High School|
|Alma mater||University of Stellenbosch|
|Occupation(s)||Chairman and 44% owner, of Pepkor|
Wiese owns a 44% share of Pepkor since becoming the chairman there in 1981 and starting out as an executive director for the retail store Pep from 1967 to 1973. Pepkor is a discount store in South Africa that was founded in 1965.
In April 2015, it was reported that Virgin Group and their private equity backers had sold 80% of Virgin Active to the South African investment firm Brait, owned by Wiese. The sale price will be £682 million for an 80% stake, valuing the business at £1.3 billion, including debt, and the transaction should be completed in the summer of 2015, and the company will continue to operate under the Virgin Active brand.
Wiese was formerly chairman and largest shareholder (about 20% following the sale of his company Pepkor to Steinhoff in 2014) of Steinhoff International, a German-listed furniture conglomerate holding company, and resigned in 2017 in the wake of the Steinhoff accounting scandal. Wiese suffered a huge financial loss when the share price crashed and in March 2019 announced he was making a 4 billion dollar claim against Steinhoff.
As of August 2012, it was reported that Wiese owed SARS an estimated R2 billion in back taxes.
Wiese faced a legal battle to recover $1 million that he was carrying while boarding a flight from England to Luxembourg in 2009. This amount was confiscated by customs officers as the sum was in hard cash bundled up in rubber bands in his luggage.
1.1 billion USD
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