MARKUS JOOSTE'S WORLD

We look at the numbers behind the disgraced billionaire who shot himself recently

- DENNIS CAVERNELIS

KWAAIWATER in Hermanus is one of many scenic spots in the seaside town, a beautiful area ringed by cliff paths and fringed with silver sands.

But it will forever be known for something else now, too: as the place where Markus Jooste put a gun to his head and pulled the trigger.

News that the disgraced Steinhoff boss had taken his life sent shockwaves through the country. He’d just been slapped with a record R457 million fine by the Financial Sector Conduct Authority and had been given one month to pay it. He was also due to hand himself over to the Hawks the next day.

Instead, he told his wife, Ingrid, he was going for a walk, and after she left to play golf, he headed to Kwaaiwater – and a pool of blood on a rock told the grim tale of what happened next.

Jooste will never have to face the music now. We look at the rise and fall of a man who lived too close to the sun.

THE FRAUD

1988  The year Jooste joined German furniture company Steinhoff as its managing director after it bought 35% of SA furniture business GommaGomma. He took most of the credit for turning the company into a global success as it bought and invested in retail businesses around the world.    

6500The number of shops Steinhoff had in 30 countries at the height of its success. SA brands included Ackermans, Pep, Buco, Timber City and the JD Group, previously known as Joshua Doore and had Russels, Bradlows, HiFi Corp and Incredible Connection under its umbrella.