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Which essentially allows you capital
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Steinheist

Which essentiallyallows you capital, and it also brings you to theattention of numerous...

Which essentially
allows you capital, and it also brings you to the
attention of numerous investors. That's when the pension
funds get involved. They buy shares in it when
it publicly debuts on the JSE at about R4 a share,
I think, at the time

Full Transcript

00:00:01.000 --> 00:00:02.088
Which essentially allows you capital,
00:00:02.881 --> 00:00:06.012
and it also brings you to the attention of numerous investors.
00:00:06.121 --> 00:00:08.521
That's when the pension funds get involved.
00:00:08.522 --> 00:00:12.039
They buy shares in it when it publicly debuts on the JSE
00:00:12.999 --> 00:00:14.799
at about R4 a share, I think, at the time.
Duration
15 seconds
Views
24
Timestamp in Movie
00:21:38
Uploaded
Apr 30, 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 • E03 But what it cost also in reputational terms, - Steinheist 00:08
But what it cost also in reputational terms,
S01 • E02 That kind of became then a buzz amongst the staff - Steinheist 00:09
That kind of became then a buzz amongst the staff
S01 • E03 How would I explain getting lured into that trap? - Steinheist 00:06
How would I explain getting lured into that trap?
S01 • E03 Is I relied too much on other people's due diligence. - Steinheist 00:07
Is I relied too much on other people's due diligence.
S01 • E01 That's when the company becomes a public entity. - Steinheist 00:04
That's when the company becomes a public entity.
S01 • E02 What we do find with bullies is that they've often - Steinheist 00:12
What we do find with bullies is that they've often
S01 • E01 That's when it becomes more well-known. - Steinheist 00:10
That's when it becomes more well-known.
S01 • E03 Jooste, for a period of more than a decade, we now know, - Steinheist 00:12
Jooste, for a period of more than a decade, we now know,
S01 • E02 Those kinds of behaviours - Steinheist 00:15
Those kinds of behaviours
S01 • E03 He managed to get through the component auditors - Steinheist 00:07
He managed to get through the component auditors
S01 • E03 He got through the banks that lent him billions. - Steinheist 00:05
He got through the banks that lent him billions.
S01 • E01 Only available at PEP and Ackermans. - Steinheist 00:07
Only available at PEP and Ackermans.
S01 • E03 The institutional investors, the ratings agencies. - Steinheist 00:05
The institutional investors, the ratings agencies.
S01 • E02 So, for example, someone that was lower down in this in the hierarchy - Steinheist 00:14
So, for example, someone that was lower down in this in the ...
S01 • E03 You know, until a few months before the collapse, - Steinheist 00:07
You know, until a few months before the collapse,
S01 • E03 He got through all those gatekeepers. - Steinheist 00:04
He got through all those gatekeepers.
S01 • E01 Most of our businesses have also had resilient performances. - Steinheist 00:05
Most of our businesses have also had resilient performances.
S01 • E02 But someone that he needed to gain power or status from - Steinheist 00:09
But someone that he needed to gain power or status from
S01 • E01 I mean, the UK did well. So it shows - Steinheist 00:07
I mean, the UK did well. So it shows
S01 • E03 When those people who were there for years, they never saw it. - Steinheist 00:06
When those people who were there for years, they never saw i...