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He came into contact with enormously successful individuals
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Steinheist

He came into contact withenormously successful individuals who made it big later in life....

He came into contact with
enormously successful individuals who made it big later in life. So, you know, it's not as if it's
a classic rags to riches story

Full Transcript

00:00:01.000 --> 00:00:04.319
He came into contact with enormously successful individuals
00:00:04.032 --> 00:00:06.028
who made it big later in life.
00:00:06.281 --> 00:00:10.199
So, you know, it's not as if it's a classic rags to riches story.
Duration
10 seconds
Views
28
Timestamp in Movie
00:10:15
Uploaded
Apr 29, 2025
Season
1
Episode
1
Genres
documentary, crime
Production
IdeaCandy

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Movie Summary

The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
S01 • E02 I thought it was one of the best companies in the country, hence the investment. - Steinheist 00:06
I thought it was one of the best companies in the country, h...
S01 • E02 I used the money to put a deposit on a house. - Steinheist 00:05
I used the money to put a deposit on a house.
S01 • E01 I met Markus Jooste the first time in 1979. - Steinheist 00:08
I met Markus Jooste the first time in 1979.
S01 • E02 Look, I think if you analyse country by country - Steinheist 00:13
Look, I think if you analyse country by country
S01 • E03 The Federation would like to assure - Steinheist 00:23
The Federation would like to assure
S01 • E01 So, Johann, I want to say thanks so much for agreeing to speak to us about this. - Steinheist 00:05
So, Johann, I want to say thanks so much for agreeing to spe...
S01 • E01 So that particular time at Wilgenhof, it was the late '70s, early '80s. - Steinheist 00:06
So that particular time at Wilgenhof, it was the late '...
S01 • E02 So that's why, you know, Godfrey, I'm not a fan of macroeconomic statements - Steinheist 00:09
So that's why, you know, Godfrey, I'm not a fan of...
S01 • E01 Can you perhaps sketch a portrait of what the dynamics were? - Steinheist 00:05
Can you perhaps sketch a portrait of what the dynamics were?
S01 • E01 Yes. There was of course the initiation of first years - Steinheist 01:00
Yes. There was of course the initiation of first years
S01 • E02 When we looked at the problem of Steinhoff, - Steinheist 00:06
When we looked at the problem of Steinhoff,
S01 • E03 There is a pension fund where you put in your money and you hope for the best. - Steinheist 00:05
There is a pension fund where you put in your money and you ...
S01 • E03 We refer to that as a defined contribution fund because you are only told - Steinheist 00:07
We refer to that as a defined contribution fund because you ...
S01 • E02 There was lack of diversity at the board level, - Steinheist 00:06
There was lack of diversity at the board level,
S01 • E03 We are hoping that over the life of your employment then, - Steinheist 00:23
We are hoping that over the life of your employment then,
S01 • E02 Because remember, the way the companies are run, - Steinheist 00:07
Because remember, the way the companies are run,
S01 • E02 The people who are running the company on a daily basis are the exco, - Steinheist 00:09
The people who are running the company on a daily basis are ...
S01 • E02 what tends to happen is that - Steinheist 00:08
what tends to happen is that
S01 • E03 So the government employee pension fund is a defined benefit model. - Steinheist 00:27
So the government employee pension fund is a defined benefit...
S01 • E02 And if they're coming from the same either race, culture, - Steinheist 00:08
And if they're coming from the same either race, cultur...