South African businessman and retail tycoon Christoffel Wiese has an estimated net worth of $6.7 billion as of 2015, according to Forbes. This declined to $1.1 billion as of January 2018.
This Cape Town-based self-made billionaire was born Christoffel F. Hendrik Wiese on 10 September 1941 in Upington, a town located in the Northern Cape province of South Africa. He attended the Paarl Boy’s High School. He earned his BA degree and LLB degree from Stellenbosch University.
Wiese started practicing law at the Cape Bar after university. Later he worked as a director at the discount clothing chain Pepkor. Retail and fast food company Shoprite started out as a chain of eight supermarkets in Cape Town under Wiese’s leadership. Today it operates more than 1,200 corporate and 270 franchise outlets in 16 nations across Africa and the Indian Ocean Islands.
Wiese has stakes in industrial products company Invicta Holdings, private equity firm Brait and mining sector investor Pallinghurst. It was reported on 16 April 1015 that Virgin Group and their private equity backers had sold 80 percent of Virgin Active to Brait. The sale price was ₤682 million and business was valued at ₤1.3 billion. The company will continue to operate under Virgin Active brand.
Christoffel Wiese is married and has three children. His son Jacob Wiese works in Pepkor. He will take over from Christoffel when he retires.