Markus Jooste Biography, Networth, Salary, Family, Children, Membership and Where he is Now

Markus Jooste Biography

Markus Jooste (Markus Johannes Jooste) was born in January 1961 in South Africa. He is a South African businessman and the former chief executive of furniture manufacturer retailer Steinhoff International as well as a patron of South African horse racing. 

The Johannesburg-listed company (Steinhoff International) sells furniture in Europe, the Pacific Rim and southern Africa and employs 55,000 people. As CEO of Steinhoff International, Markus Jooste has transformed the South African manufacturer into “Africa’s Ikea” and the second largest household goods retailer in Europe.

Jooste joined retailer Gommagomma in 1988 as finance director and just a few months later negotiated its sale to Steinhoff’s furniture empire. In 2014, Steinhoff International agreed to purchase Pepkor Holdings for $5.7 billion, adding clothing to the furniture retailer’s inventory.

He has become a controversial figure after the South African Revenue Service (equivalent to the IRS) publicly questioned his use of tax shelters to avoid tax.

Since most of Steinhoff’s assets are in Europe, Jooste is considered to be the most travelled businessman in South Africa, apparently spending as many nights on the 11 hour overnight flight from South Africa to Europe as he does at home.

With an interest in a nearby wine farm, Jooste is a senior member of the Stellenbosch business clique, alongside Johann Rupert, GT Ferreira and Jannie Mouton.

He is an avid thoroughbred horse owner whose colt Variety Club was South African Horse of the Year for two years running.

Education Background

• He has a degree in accountancy from Stellenbosch University.
• He trained as a chartered accountant.

Career

• 2000 – Present: Chairman of Steinhoff Africa Holdings (Pty) Ltd.
• 2000 – Present: Group Managing Director of Steinhoff Africa Holdings (Pty) Ltd.
• 1998 – Present: Chief Executive Officer of Steinhoff Africa Holdings (Pty) Ltd, Northern Hemisphere Operations.
• Independent Non-Executive Director of PSG Group Limited.
• Non-Executive Director of KAP Industrial Holdings Ltd.
• Non-Executive Director of PSG Group Ltd.
• 2011: Non-Executive Director of Capitec Bank Holdings Ltd.
• 1988 – 2011: Financial Director of Gomma Gomma Holdings.
• 1987: Finance Director of Gant’s Foods.
• 1985: Deputy Director of South African Revenue Services, Pretoria

Membership

• Member of Highveld Racing Association.
• Member of South African Institute of Chartered Accountants

Markus Jooste Networth

As of December 2016 his net worth was $400 million.

Markus Jooste Family

He is married with three children, a son and two daughters. His wife designs the colours worn by Jooste’s racehorses.

Markus Jooste Son

He has one son according to horseracing website Sporting Post.

Photo

Markus Jooste

Markus Jooste Salary

This information will be updated soon.

Where is Markus Jooste Now

Markus Jooste was a hero of South African business. When Steinhoff bought Pepkor in 2014 — arguably the largest deal in South African corporate history — the tycoon was quoted thus: “It makes anything in the world possible for us to do . . . playing in the global arena. It’s a fairy tale come true.”

No longer a fairy tale, more of a nightmare — both for Steinhoff’s shareholders and banks and for Jooste himself, now reviled and hiding from public view. Unconfirmed rumours circulating in Cape Town suggest he is now in Namibia or Argentina.

Video