Markus Johannes Jooste is a former CEO of Steinhoff International and a South African businessman. He is an ardent horse breeder and was believed to be one of Africa’s wealthiest persons in 2016, at $400 million. When he teamed up with Christo Wiese in 2014, they launched on an aggressive international expansion plan.
Jooste’s abrupt retirement from Steinhoff on December 5, 2017 was followed by a lengthy and contentious debate over Steinhoff’s accounting methods in its Central European sector, which dated back to 2016, if not 2014. As a result of the following uncertainty, about €10 billion (R160 billion) of Steinhoff’s market value was wiped out in a couple of days, with further losses as the situation progressed.
Markus Jooste has been charged with malfeasance by an accounting body.
THE South African Institute of Chartered Accountants (SAICA) announced Tuesday that former Steinhoff CEO Markus Jooste had been charged with misconduct following a lengthy inquiry.
According to SAICA, Jooste acted in a way that was “discreditable, dishonorable, dishonest, irregular, or unworthy, or is derogatory to the Institute, or tends to bring the profession of accountancy into disrepute; and/or that he failed to maintain and adhere to the fundamental principles in the SAICA Professional Code of Conduct for Chartered Accountants.”
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SAICA’s board of directors decided in June 2019 not to accept Jooste’s resignation and instead suspend his membership until the outcome of disciplinary procedures against him.
SAICA said in a statement Wednesday that the charges included breaches of requirements relating to integrity, objectivity, secrecy, and professional behavior.
Further update
Furthermore, he had failed to respond to non-compliance or suspected non-compliance with the Financial Markets Act 19 of 2012; and had acted in a manner that is “discreditable, dishonorable, dishonest, irregular, or unworthy, or which is derogatory to SAICA, or which tends to bring the profession of accountancy into disrepute in that he used insider information to deliberately discourage other person from investing on Steinhoff.
Jooste had also been dishonest in that he was aware that Steinhoff was under heightened scrutiny from its external auditor due to accounting issues at the time Mayfair Speculators requested more advances from Investec via a loan draw down.
He also failed to reveal significant accounting issues in Steinhoff’s yearly financial statements, instead making false statements about them.
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Jooste also lied to the Steinhoff audit committee and Parliament about charges of accounting errors in the yearly financial statements.
Markus Jooste Age, Date of Birth, Birthday, Family, what about his father, mother, where is he from? Early life.
Markus Jooste is a 60 years old person. He was born in the Pretoria, South Africa. He was born in the year of 1961, on the date of 22nd January. Talking about the zodiac sign of Markus Jooste, he is an Aquarius. Markus Jooste is a south African by nationality. He holds black ethnicity.
Now talking about the family of Markus Jooste. There are no reviews on his family either. There no information regarding his parents. Seems like he is a guy to respect his parents’ privacy and keep it away from the media. However, there are some details that the father of Markus Jooste was postal worker and a keen race punter.
Markus Jooste’s career as a businessman and a horse breeder and trainer.
He was named finance director of a publicly traded corporation after training as a chartered accountant in his twenties. He became the finance director of GommaGomma at the age of 27, when he met German entrepreneur Claas Daun, who mentored him in business. Jooste, for his part, persuaded Daun in 1998 to unite his firm with that of Bruno Steinhoff in Europe and to float Steinhoff International on the JSE.
Jooste and Daun served as non-executive directors of Steinhoff International beginning in 1988[18][20], and Jooste was appointed CEO in 2000. In his capacity as CEO, he grew the company from a modest furniture producer to a huge furniture multinational through multiple acquisitions.
Horse training career
Jooste entered the horse racing profession in the 1990s with 250 horses and quickly rose to become Africa’s, if not the world’s, second largest horse-racing investor. Mayfair Speculators, a wholly owned subsidiary of Mayfair Holdings created in 1987, is where Jooste and his son-in-law, Stefan Potgieter, manage their horse racing interests.
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Jooste joined Klawervlei Stud in 2004, along with Johan du Plessis, Danie van der Merwe, and John Koster, and they adopted the four-leaf clover as their insignia. Other major investors joined the venture during the next decade.
Markus Jooste’s Net worth, How much does he earn as a business person?
Markus Jooste is a well -established business person. He has attained a respected spot in the South African business industry. He probably earns a great amount to live a comfortable and easy lifestyle from his decent career.
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However, the details on his net worth are under reviewed as of this year. He was declared one of the richest persons in South Africa when he had a net worth of $400 million in 2015.
Which school and college did he go to? What was his major?
Markus Jooste is a highly educated person. He has the mind to strategize business and make profit. This man has graduated from Stellenbosch University.
He also attended the University of Cape town in South Africa. Further, there are no details on the schooling and majors he chose.
Markus Jooste Wife, Any Children?
Markus Jooste is a married man. He is married to Ingrid Jooste. The couple is very supportive towards each other. They have three children to themselves and live in Stellenbosch at the moment. He has two daughters and a son.
Is Markus Jooste available on any kind of social media Platforms?
We looked for him on every social networking site, including Instagram, Facebook, and Twitter. We came to a conclusion that he is not available on Instagram nor Facebook.
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Seems like Markus is more like a career- oriented person and was busy maintaining his career rather than getting hooked on social media.
People also ask
Markus Johannes Jooste is a former CEO of Steinhoff International and a South African businessman. He is an ardent horse breeder and was believed to be one of Africa’s wealthiest persons in 2016, at $400 million. When he teamed up with Christo Wiese in 2014, they launched on an aggressive international expansion plan.
Markus Jooste is a 60 years old person. He was born in the Pretoria, South Africa. He was born in the year of 1961, on the date of 22nd January. Talking about the zodiac sign of Markus Jooste, he is an Aquarius. Markus Jooste is a south African by nationality. He holds black ethnicity.
Markus Jooste is a married man. He is married to Ingrid Jooste. The couple is very supportive towards each other. They have three children to themselves and live in Stellenbosch at the moment. He has two daughters and a son.
We looked for him on every social networking site, including Instagram, Facebook, and Twitter, we came to a conclusion that Marcus Jooste is not available on Instagram nor Facebook.
He probably earns a great amount to live a comfortable and easy lifestyle from his decent career. However, the details on his net worth are under reviewed as of this year. He was declared one of the richest persons in South Africa when he had a net worth of $400 million in 2015.
Marcus Jooste’s Body Appearance Height, Weight
| Height | Under reviewed |
| Hair color | Brown |
| Eye color | Brown |
| Weight | N/A |
| Body Type | Fit |
| Sexual orientation | Straight |
Interesting facts about Marcus Jooste’s which you should be known about
| Nationality | South African |
| Ethnicity | Black |
| Zodiac sign | Aquarius |
| Relationship Status | Married |
| Children | 3 |
Social Media
Not Available
