Christo Wiese
3rd Richest Man In South Africa

Christo Wiese Net Worth : $3.2 Billion

Christoffel Wiese or popularly known as Christo Wiese is a veteran entrepreneur from South Africa, who derives most of his wealth from consumer retail. He was born on September 10, 1941 in South Africa, studied in Paarl Boys’ High School and later on attended Stellenbosch University in Stellenbosch.  Today, he is not only one of the most successful businessmen in South Africa, but he is also one of the wealthiest people in the world. Forbes listed him as the 3rd richest person in South Africa, and the 506th richest person in the world with an estimated net worth of $3.2 billion (as of March 2014). 

From 2006, Wiese has also been the chairman (but without executive powers) of Invicta Holdings Limited. He also acts as the Executive Director of Shoprite, which is a South African retail giant. His chosen fields of industry include banking, finance, accounting, fashion, retail and consumer goods. He has excelled in all his chosen fields such that he has been named the 11th most successful business man in South African history, and the 69th most successful individual in South African history.

Business Ventures

Under Wiese’s leadership, Shoprite began as a chain of 8 supermarkets situated in Cape Town. Today, Shoprite is a multi-billion dollar business, all thanks to the innovative expansion strategies and acquisitions that have been made over the first 30 years of its operation. Wiese played a crucial role in enabling Shoprite to acquire distributor Senta, and also began expanding the business into franchising from South African Breweries. Not only did he insert a total of 157 supermarkets and about 146 furniture stores, but he also helped create job opportunities in the area. Wiese made a hefty profit of $1.5 billion after Shoprite’s shares rose tremendously by 50% on the South African national stock market. 

Besides Shoprite, Wiese owns over 1200 corporate outlets under different names. He is not only the chairman of Pepkor, but he is also the legal owner of 44% of the retail store. In addition to the game reserve in the Kalahari, Wiese also owns Lourensford Estate, which is a prominent wine producer. This self-made billionaire also managed to convert a 19th century farm into a five-star hotel – the Lanzerac Manor & Winery. However, he is no longer the owner of the hotel as he sold it on March 2012.

Awards and Achievements

  • Diagonal Strategic Communicator of the Year
  • Business Leader of the Year/Cape Town Sakekamer
  • Marketing Manager of the Year/Institute of Marketing Management
  • MS Louw Award for Exceptional Business Achievements
  • Pioneer of the 20th Century Awards/South African Council of Shopping Centers
  • Intellidex Richest Men in South African list/2012

Personal Life 

Wiese is happily married and has three children. He and his family reside in Cape Town, South Africa. 

Interesting Facts about Christoffel Wiese

  • He has serious tax problems. He officially owed the Government of South Africa over $250 million, as of August 2012.
  • This billionaire has a nickname – Christo.
  • He once tried to board a plane with nearly £700,000 in cash, and was infuriated by how he was treated with suspicion citing that that amount of money is peanuts to him.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)