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You know, they would basically have a straight entry
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Steinheist

You know, they would basicallyhave a straight entry into an executive position,and I...

You know, they would basically
have a straight entry into an executive position,
and I experienced that

Full Transcript

00:00:01.000 --> 00:00:04.759
You know, they would basically have a straight entry
00:00:04.076 --> 00:00:07.439
into an executive position, and I experienced that.
Duration
7 seconds
Views
19
Timestamp in Movie
00:33:20
Uploaded
Apr 28, 2025
Season
1
Episode
3
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 After years of working, doing the hard graft, - Steinheist 00:09
After years of working, doing the hard graft,
S01 • E01 Were you born into a commercial family? - Steinheist 00:05
Were you born into a commercial family?
S01 • E01 Yeah. You know, a typical small-town business family. - Steinheist 00:05
Yeah. You know, a typical small-town business family.
S01 • E03 I realized that my time at Steinhoff had come to an end - Steinheist 00:12
I realized that my time at Steinhoff had come to an end
S01 • E01 My dad owned a garage, and he was also a Kalahari farmer, - Steinheist 00:10
My dad owned a garage, and he was also a Kalahari farmer,
S01 • E03 And, you know, we were supposed to be colleagues - Steinheist 00:10
And, you know, we were supposed to be colleagues
S01 • E01 Christo Wiese goes and studies law at Stellenbosch University, - Steinheist 00:06
Christo Wiese goes and studies law at Stellenbosch Universit...
S01 • E01 And at the time, his family invests in a small company called PEP. - Steinheist 00:07
And at the time, his family invests in a small company calle...
S01 • E02 But what is clear in retrospect is that Steinhoff was trying to cover - Steinheist 00:21
But what is clear in retrospect is that Steinhoff was trying...
S01 • E01 PEP becomes a fantastic success story. - Steinheist 00:11
PEP becomes a fantastic success story.
S01 • E03 And it wasn't well received. And after that, you can imagine - Steinheist 00:10
And it wasn't well received. And after that, you can im...
S01 • E01 I mean, you were buying clothes for 99 cents. - Steinheist 00:04
I mean, you were buying clothes for 99 cents.
S01 • E03 What shall one call it? A Damascus moment, in a sense. - Steinheist 00:05
What shall one call it? A Damascus moment, in a sense.
S01 • E01 Well, it went on a very aggressive expansion phase. - Steinheist 00:05
Well, it went on a very aggressive expansion phase.
S01 • E02 It wasn't just Mattress Firm in the US it bought, - Steinheist 00:06
It wasn't just Mattress Firm in the US it bought,
S01 • E03 Where I broke my ties with Steinhoff, sold my shares, and I moved on. - Steinheist 00:05
Where I broke my ties with Steinhoff, sold my shares, and I ...
S01 • E01 I joined the business fulltime in 1967. - Steinheist 00:04
I joined the business fulltime in 1967.
S01 • E01 Christo goes on to be one of the founding presences at Shoprite. - Steinheist 00:06
Christo goes on to be one of the founding presences at Shopr...
S01 • E01 And Shoprite, today, is this massive multi-billion rand, - Steinheist 00:13
And Shoprite, today, is this massive multi-billion rand,
S01 • E02 Mattress firm. - Steinheist 00:07
Mattress firm.