The decade in review
“A WEEK OR TWO AFTER THE CRISIS HIT, ANALYSTS WERE STILL DECLARING IT A BUY.”
− Christo Wiese, former chairman of and largest shareholder in Steinhoff, speaking to finweek about the Steinhoff crash of December 2017, which saw the company shed more than 80% of its share price in a week. The slump was triggered by Steinhoff’s announcement of accounting errors stretching back to 2016, highlighting the extent of wrongdoing at the company. Wiese lost almost R50bn — a loss so great that he fell from the Forbes list of the wealthiest businesspeople.
“When a country (US) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.”
– in a tweet dated 2 March 2018. The US president is dead set on improving
