By 1979, Pep Stores made its foray into the food retailing business with its acquisition of Shoprite, a small chain of retail outlets spread across South Africa. Wiese had been carrying the cash in his personal hand luggage while attempting to board a flight from England to Luxembourg. Asked December 16, 2016. The average FTSE 100 company CEO is paid about 129 times more than the average employee. Today, Wiese is the largest individual shareholder and chairman of retail giants Pepkor, Shoprite and Tradehold, and one of the continent’s most successful entrepreneurs, with a net worth of $3.1 billion on Forbes' 2012 World's Billionaires List. The Shoprite CEO Basson had a basic salary totaling to R49.6m in 2016. Share this article: Share Tweet Share Share Share Email Share. His combined interests in Pepkor and Shoprite- the continent’s largest retailer are currently worth $2.4 billion. 7. Elon Musk, the CEO of Tesla Inc and Space X, is now the richest person in the world, after Tesla's share price soared 7.9 per cent on Thursday (Jan. 7). January 2021 FGN Bond records oversubscription of N88.3 billion. Wiese has seen his own fair share of troubles, too. He was paid up to a total of R100.1m when the one-time R50m bonus on performance was added. Africa has been called dark and hopeless, but today it is neither of these. ... United Capital Plc CEO purchases additional 1.5 million shares worth N8.03 million. Become a Supplier. Last year, he voiced his thoughts in an opinion article in Ernst & Young’s 2011 Africa attractiveness survey: “I’m extremely positive about investment in Africa. It operates through the following segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other. Christoffel Wiese is also a CEO but a Non-Executive one. Christo Wiese’s fortune fell by a whopping $3 billion in just two days after retail conglomerate Steinhoff Holdings announced its CEO had resigned due to accounting irregularities. LPGA Tour pro Mika Miyazato , a Japanese nationwide, is best referred to as the 2004’sJapan Amateur Championship winner (won… Subsequently, Pepkor listed its clothing interests on the JSE as Pep Limited and its food interests as Shoprite Holdings Limited. South African Billionaire Wiese Reported To Eye New Retail Acquisition, South African Billionaire Wiese Owes $245 Million In Taxes, Says Broadcaster, Meet South African Billionaire Christo Wiese, Mr. Shoprite, South African Billionaire Christo Wiese Eyes Nigeria. The board appointed Pieter Engelbrecht (born c. 1970), the former Chief Operating Officer, as the incoming CEO as of 1 January 2017. One of the salesmen sent back a telegram, saying: “There’s no market here because nobody here wears shoes,” and the other one sent a telegram back: “I’m elated because what a market – because nobody has shoes.”. Shoprite: Organization: Shoprite: Title: CEO: Term: 1971 to 2016: Successor: P.C. ShopRite originated in 1946, when a Del Monte Foods sales representative talked to independent grocers in Newark, New Jersey.The grocers were having problems getting reasonable prices for wholesale goods. Streaming issues? web search. Wiese assumed the position of chairman in 1981, and in 1982 he led the company to change its name from Pep Stores to Pepkor Limited. Saker ShopRites is one of the highest average volume per store supermarket chains in the country, employing nearly 9,000 associates. Report here. These are the 29 Africans who are worth $1 billion or more in 2014: South African billionaire retail mogul Christo Wiese is among bidders looking to acquire British Home Stores (BHS), a British department store chain. © 2021 Forbes Media LLC. America's Top Givers: The 25 Most Philanthropic Billionaires, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Forbes Global 2000 Shows Nothing Can Stop Russia’s Oil Beasts, Forbes Global 2000: Pandemic Will Roil The Insurance Sector, Former Billionaire Christo Wiese To Step Down From Shoprite Next Year, South African Retail Tycoon Loses Billionaire Status Amid Accounting Crisis, Billionaire's Daughter Buys $7 Million Mansion In Cape Town, South Africa, The Biggest African Billionaire Gainers Of 2015. Basson led Shoprite from 1979 to 2016. Shoprite CEO Whitey Basson has decided to retire, bringing to a close a wildly successful, 37-year stint at the helm of Africa’s largest retailer. Pieter C Engelbrecht is CEO/Executive Director at Shoprite Holdings Ltd. See Pieter C Engelbrecht's compensation, career history, education, & memberships. Disclamer: ShopRite (United States) net worth are calculated by comparing ShopRite (United States)'s influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with anybody else in the world. There are 29 African billionaires this year, up from 20 just a year ago. Global Trade Solution. It’s a huge market of almost a billion people with huge resources and a young population. The Shoprite CEO Basson had a basic salary totaling to R49.6m in 2016. The Furniture segment involves in the retail operations. South African billionaire Christo Wiese owes the South African Revenue Service $245 million, or R2billion in unpaid taxes, reports state-owned South African Broadcasting Corp. Christo Wiese is the brain behind Shoprite, Africa’s most storied retail chain. The Supermarkets Non-RSA consists of retail operations under the Shoprite, Checkers, Checkers Hyper, Usave, and Hungry Lion brands outside of South Africa. The collapse of the Steinhoff share price was a significant blow, pushing him down the ranks of the world’s wealthiest. Gradually, Whitey Basson 2010 earnings … Wiese has been the engineer of all this growth, and has reaped some handsome financial dividends in the long run. There were no clothes shops in the country, and a colleague from Pep Stores with whom he had made the trip told him, “You know, we can’t come and open shops here because people prefer to buy  their clothes from hawkers,” Wiese recalled during an interview with South Africa's Leadership magazine. The South African billionaire is currently facing a legal battle to recover more than $1 million in cash that was seized from him in 2009 by British customs officials. play_arrow. With Wiese at the helm, the company made some audacious acquisitions. Surging annual profit at Nestle has helped the water and chocolate giant take back the title of the's world's largest food company—a title it held for a decade before Anheuser-Busch InBev temporarily dethroned it last year. Global 2000 Highlights: Inside The Numbers Of The World’s Largest Public Companies, The World’s Largest Food And Restaurant Companies In 2020, America’s Largest Public Companies In 2020: JPMorgan Chase Leads For The Second Year In A Row. © 2021 Forbes Media LLC. But, a few miscalculations have seen him wipe fortunes off his balance sheet. The Del Monte representative suggested the grocers try cooperative buying. “I believe I am good for another five to seven years,” he said last year during an interview with South Africa's Moneyweb. Stock Market 2 hours ago. He acquired Ackermans, a clothing chain, in 1986. Shoprite CEO Pieter Engelbrecht. Become a Shareholder. I also chronicle the stories of successful African enterprises and the entrepreneurs behind them. Shoprite Holdings Ltd. engages in the management of retail stores. Our Directors. Needless to say, it thrived- just like all the other previous stores across the continent. Apart from serving as chairman of Pepkor, Shoprite and Tulca, he is on the board of South African media giant Primedia and financial services firm PSG Group Ltd. Wiese is 70, but he says he’s not prepared to step aside anytime soon. This bonus also served as an incentive for having served the company for so long. He is widely acknowledged as one of the richest men in Africa today. Former billionaire Christo Wiese will step down as chairman of Shoprite, Africa’s largest grocer, next year, according to a statement issued by the company. Contact Us. Shoprite Holdings Limited, an investment company that engages in the food retailing business. Supplier Portal. What is it worth on paper? Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) After acquiring a bachelors’ degree in law from the University of Stellenbosch, Wiese practiced at the Cape Bar for several years before taking up a job as an Executive Director at Pepkor, a discount clothing chain his parents had helped found. Christo Wiese’s fortune fell by a whopping $3 billion in just two days after retail conglomerate Steinhoff Holdings announced its CEO had resigned due to accounting irregularities. Supply Chain Management. Wendy Lucas-Bull (67) Chairman. German shepherd yorkie mix full grown He was paid up to a total of R100.1m when the one-time R50m bonus on performance was added. When Wiese went to Zambia in the early 1990s to open up a clothing store, he discovered that clothing was sold on the street pavement by hawkers. Shoprite CEO’s dilemma: How much change is enough? What advice would you give the CEO of Shoprite Store about how to improve it? In addition to retail, the mogul has been involved with several other companies and sits on numerous corporate boards. Shoprite Group Supplier Awards. He assumed the role on 1 January 2017, bringing with him extensive operational and management experience gained over 20 years with the Group. Asked December 16, 2016. He had not gotten a basic pay increment from 2013 and had no one-time payments at least for five fiscal years. I previously worked as a reporter for Business Daily, Kenya's largest business newspaper. In 1991 Pepkor made four additional acquisitions. That anecdote is reminiscent of South African billionaire Christo Wiese’s story. Careers; Contact Us. Brett Wing has been named president of ShopRite Supermarkets (SRS), a wholly owned subsidiary of Wakefern Food Corp., which operates 34 ShopRite stores, effective immediately. Using his own money, Shoprite's CEO Pieter Engelbrecht bought a large number of contracts for difference worth R20 million. 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