South Africa: Markus Jooste, the Shadow Magician Who Couldn't Look Into the Mirror

analysis

It should have been apparent early on that Jooste might have been a magician, but he was unapologetically a shadow magician, only interested in his own enrichment.

On Human Rights Day Markus Jooste, the former CEO of Steinhoff International, took his own life. In the aftermath, there has been much debate about whether it was a selfish deed or whether Jooste deserves some sympathy for this final desperate act.

Whatever the case may be, there was a feeling of inevitability to it.

Starting in the furniture business, Jooste quickly turned into what many described as a "deal magician". From a young age, he convinced others to make big deals and almost magically multiplied money on global stock exchanges and of course, for himself.

By the time he was 55, Jooste was one of the richest people in Africa, with a reported wealth of almost $400-million. With an apparent disregard for the poverty surrounding him in South Africa, he shamelessly flaunted his obscene riches.

In Stellenbosch, the old guard whispered disapprovingly about him knocking down old houses to build "a monstrosity". There were cars, a girlfriend kept in comfort, private jets, yachts and horse racing -- lots and lots of horse racing. At his beach house in Hermanus, which stretches over a whole block, he cut down all the old trees and replaced them with sprawling lawns --...

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