Markus Jooste: The fall of a Stellenbosch Don
The disgraced former Steinhoff CEO inspired very different sentiments in those he dealt with
The fall of Markus Jooste, the now-disgraced former CEO of Steinhoff, has badly rattled his legion of disciples. Jooste (56), whom this magazine recently dubbed "the Fred Flintstone of the investment world" for his scrappy personality, sees the world in black and white. He is "charismatic, but arrogant and abrasive", says All Weather Capital chief investment officer Shane Watkins. "A large group of people worshipped him unquestioningly. These people were lavishly entertained and fêted. Those analysts who questioned and asked uncomfortable questions were excluded," says Watkins. "The investment community was very split on the issue — my guess is 80% of analysts loved him and lapped up his story and 20% were much more sceptical."Jooste’s longstanding admirers include David Sussman, founder of the JD Group, which was bought by Steinhoff; Grand Parade Investments chairman Hassen Adams, who owned racehorses with Jooste; and Phumelela Gaming & Leisure CEO Rian du Plessis. But perhaps the ...
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