The Stellenbosch Mafia: Inside the Billionaire’s Club

by Pieter Du Toit

About 50km outside of Cape Town lies the beautiful town of Stellenbosch, nestled against vineyards and blue mountains that stretch to the sky. Here reside some of South Africa’s wealthiest individuals: all male, all Afrikaans – and all stinking rich. Johann Rupert, Jannie Mouton, Markus Jooste and Christo Weise, to name a few.

Julius Malema refers to them scathingly as ‘The Stellenbosch Mafia’, the very worst example of white monopoly capital. But who really are these mega-wealthy individuals, and what influence do they exert not only on Stellenbosch but more broadly on South African society?

Author Pieter du Toit begins by exploring the roots of Stellenbosch, one of the wealthiest towns in South Africa and arguably the cradle of Afrikanerdom. This is the birthplace of apartheid leaders, intellectuals, newspaper empires and more.

He then closely examines this ‘club’ of billionaires. Who are they and, crucially, how are they connected? What network of boardroom membership, alliances and family connections exist? Who are the ‘old guard’ and who are the ‘inkommers’, and what about the youngsters desperate to make their mark? He looks at the collapse of Steinhoff: what went wrong, and whether there are other companies at risk of a similar fate. He examines the control these men have over cultural life, including pulling the strings in South Africa rugby.

Genres: Nonfiction, Politics, South Africa, Africa, Business, Biography

240 pages, Paperback

First published July 15, 2019

Reviews

[Sipho · Rating 3 out of 5]

Ahh, "white monopoly capital". If you're familiar with that phrase, you've probably also heard the title of this book used almost as a slur alongside it. The Stellenbosch Mafia is allegedly a shadowy network of well connected and wealthy Afrikaners. Their business empires are said to have grown out of and are inextricably linked to the little town in the Western Cape.

More concerning is the influence they have over South Africa's politicians and economy. Allegedly.

The book, then, is an attempt to unearth the individuals that form part of this so-called Mafia. It's a well researched piece of work. The author conducted interviews with the Johann Ruperts and the Christo Wieses of this world, as well as employees of their companies and residents of Stellenbosch.

We learn that the Ruperts were actually opposed to apartheid (suuure), that involvement in rugby is a way of gaining social acceptance in those circles, that a couple of these guys don't really like each other and that there is a LOT of money swimming around in Stellenbosch.

But...

The book is not well put together at all.

It feels like du Toit just sent his notes in to the publisher and they printed them as is. There are points where its so repetitive you question whether there's any point continuing.

And then there are the editing mistakes. A funny example is when the author describes his source as "anonymous" but then has attributed quotes from that source as the chapter header!

This book would have benefitted greatly from narrowing its focus a little bit. For example, there really is no need for us to get into the details of how Steinhoff collapsed. Yet that takes up a lot of page real estate. I'm not even sure what that story had to do with the Mafia idea.

All that said, despite its faults, the book was interesting enough to keep me reading. I liked it, but it could have been so so much better.

[Yvonne · Rating 1 out of 5]

Good idea, but poorly executed. The book is not really about the ‘Stellenbosch mafia’ – a term that Du Toit wrongly claims was coined recently. It dates back decades, and refers not merely to the millionaires/billionaires who live in the town, but their incestuous relationship with politicians, the university and other seats of power (pre and post 1994). It seems Du Toit wanted to write a book about the Steinhoff debacle – which forms the core of the book – but was scooped. So he slapped on a few random chapters about Stellenbosch businessmen – none particularly insightful. The chapter on the CEO of SA Rugby, hardly a Stellenbosch billionaire, is particularly strange. Then again he has been a favourite target of Du Toit’s employer.
This could have been a fascinating book. Sadly, it’s not.

[Sibusiso · Rating 5 out of 5]

An excellent and necessary read. An intricate and detailed account of what white male privilege and its delusions look like, written by someone who really understood its psyche and the intricate details that define large Afrikaans businesses. For example, the Rupert empire on one hand and what was the Steinhoff empire on another hand. Stories like this are important.

[Storm Solomon · Rating 4 out of 5]

This book was written in a pleasantly simple manner to help the reader understand the backgrounds of the scenario and how the whole Steinhoff crash came about. Gives a lot of insight to a reader who previously didn’t understand the crux of the crash.

[Mike Burrell · Rating 1 out of 5]

Just rubbish.

[Jaxx Tshabalala · Rating 2 out of 5]

Really disappointed with this book, it reads like a tabloid article. The author tries to find a common thread between several business owners in Stellenbosch but offers little to no depth besides gossip style stories from mostly anonymous sources. GT Ferreira is referenced throughout the book with little to no depth however alluded to be part of the “Stellenbosch Mafia”.

The beginning of the book speaks on the history of the Rupert family in the Apartheid to post 94’ time capsule - the most interesting part of the book written with much fanfare. A great PR Campaign for the Rupert family. This part of the book is both inspiring and radicalising as businesses that were favoured by the Apartheid regime were essentially setup for success in the democratic South Africa benefitting from the previously economically excluded demographics however creating global powerhouses.

Such stories should be a source of pride for South Africans as a whole not just a certain community. The breakdown in relationship between the Government & Big Capital is a complex one as there are social ties that precede presidential terms.

[Fezile Simelane · Rating 3 out of 5]

A short book that gives a bit of background into the figures infamously known as the 'Stellenbosch Mafia'. The book also gives a short summary of the collapse of Steinhoff International and Stellenbosch's reaction(s) to it Not much to write home about.

[Rosemary Tjombonde · Rating 2 out of 5]

The book title is somewhat misleading. The author focus mainly on the Rupert family and to an extend more like he was trying to make them look good or make up for something that happened that put them in the spot light. I would think that the author will give us a blow by blow account on all billionaires of Stellenbosch from Rupert to Wiese and how they have accumulated their wealth.

The part on Jurie Roux is out of contents, as he is not a billionaire and to go on about his fraud cases was not fitting.

The Steinhoff debacle almost gave me a mini heart attack, but again it was not in the interest of the book to focus on Jooste scandal as they are no correlation between his quick wealth and that of billionaires.

All in all it was an interesting book I learned a lot about how the Rupert build their wealth as that’s all the book focuses on.

[Cecilia Van Der Merwe · Rating 4 out of 5]

At first I thought this book is turning out to be a biography of the Rupert family, but from about Chapter 4 the rest of the "Stellenbosch Mafia" is discussed. Fascinating glimpse into a whole other world I knew very little about. If you're South African and had Steinhoff shares and know a little bit about investing on the JSE, then this book is worth the read.

[Sammy · Rating 1 out of 5]

I remember once hearing an old man ranting first about working out, then about opening his own gym, then he talked about inviting Mr South Africa to the "homelands" in the 1990s and then talked about the bloodshed in Bophuthatswana... It was fascinating but then I wondered "but what the hell is his point?"
This book makes me wonder exactly the same question.

[Yena · Rating 1 out of 5]

Poorly researched, lacking scope, misleading title, absolutely shocking editing and proofreading, structure is all over the place. This book is unfortunately a mess, and doesn’t answer any of the questions it raises.

[Jean · Rating 3 out of 5]

Interesting read but nothing earth shattering really, some nice anecdotes.

[O R · Rating 4 out of 5]

This book shouldn't be titled The Stellenbosch Mafia.

Whilst Pieter Du Toit covers the background and activities of a range of high-profile South African businessmen - the majority of whom are located within the Stellenbosch region - the real scandal of this book (and any "mafia" connotations) comes from the Steinhoff scandal. Of which, it seems, the outsider Stellenbosch billionaires had very little to do with - which is why they are still "at large" today!

Whilst it's an interesting read to learn about the history and politics of South Africa and their "one percent", there was nothing groundbreaking or revolutionary within this book. Money buys influence and power; influence and power can be used to influence governments; governments allow this to a varying limit based on the socioeconomic factors of the day. There is nothing different happening in Stellenbosch than compared to other countries with areas of extreme wealth. (e.g. London).

With the above being said, the only true shock was just how Steinhoff was able to pull off what they did for so many years and get away with it. Swindling the stock market and their investors, the ultimate crash, and Markus Jooste's ability to dodge any repercussions, is the only activity I associated with the phrase "mafia".

[Robert Jere · Rating 5 out of 5]

A fascinating and educational book. I have been meaning to dive into the history of South Africa for a while now. This is a very good place to start. I have my new book club to thank for this. It is not a book that I would have found on my own.
This book was written by a journalist. He was trying to look into the claims that the businessmen in the town of Stellenbosch have a disproportional influence on the policies of the South African government. There are radical versions of this claim advanced by Malema and his EFF. The author does a good job of telling the history of the town. He then goes on to describe the what makes the town what it is. Finally, he profiles the some of the most prominent businesses and businessmen that are associated with Stellenbosch.
There is also a portion devoted to a huge scandal involving one of the companies based in Stellenbosch.
There is a lot to learn about South Africa in this book. The way politics and business interact under the ANC. The information on the culture and history of Afrikaners was illuminating.
A solid piece of writing by the author. It is not particularly entertaining to read. It is somewhat demanding on the reader, but I found it worth the effort.

[Clint van Heerden · Rating 4 out of 5]

What I liked

This book gave great insight into Afrikaner business, and the psyche behind a lot of it. It was well researched and well (if not a bit colourfully) written. It was a short and easy read - the kind of book I could pick up at any moment in the day and read.

What I didn't like

I think that there was a huge amount of bias in the writing of this book. Du Toit seems to be on a mission to exonerate the Ruperts, and to vilify basically everyone else - he is weirdly transparent in doing this. I think that the title is misleading, as almost from the start of the book he is disproving the notion of a mafia (then again, good titles sell books I suppose). There were parts that were clumsily written, with a lot of repetition (presumably from some poor editing).

Review round up

This was an interesting and easy book to read. As someone interested in business and politics, and someone who has a real interest in Stellenbosch, I enjoyed this book.

Rating

I really liked it: 4/5

[Khanya Cakata · Rating 1 out of 5]

The highlight of this book is really its title!

It rarely rises above a PR puff piece. It attempts to re-engineer history to make us believe that businesses and individuals, that clearly benefitted from the exclusionary policies of apartheid, made their fortunes through good ol' blood, sweat and tears. I originally thought I would rate this 3 out of 5, but that would be too generous.

Du Toit seems to want to pander to the people and businesses he writes about in this book. Do not read this part if you don't want a spoiler. His conclusion : "There isn't a mafia... in Stellenbosch" is a little too tranparent of the crush this Stellenbosch homeboy has for its wealthy titans.

It's a book of distorted history told by a inner circle sympathizer. Lower your expectations before you open this book, you'll be dissapointed if you don't. Utter drivel.

[Andrew Bentley · Rating 2 out of 5]

This is a very loose account and not terribly academic or able to withstand a historian's scrutiny. Phrases such as "many people believe," "apparently," "rumour has it" are frustratingly prolific in this book. The title is a controversial one, so I expected everything to be surrounded by hard evidence, footnotes, and scholarly references rather than 3rd-hand gossip. In the end the titular concept of mafia turns out to be as much built on hearsay as most accounts in the rest of the book.
As a basic discussion of the Rupert Empire and the broad facts surrounding the Steinhoff saga there is a lot to hold the reader's interest and it reads comfortably, but I doubt that there is much one could reference in any sort of scholarly work.
An enjoyable read.

[L Power · Rating 3 out of 5]

A Book with a table spoon that's full of Bias

Piet makes an effort to be detailed 👌 but he keeps on skimping on crucial parts about how other Billionaire's live,He specifically focuses on Jooste(Steinhoff)and his mates as jerks,but basically praises Rupert and his Remgro crew as being a Exceptional.

I wish he focused more on what beliefs the Billionaire's hold about business and hard work and what they forsee as a way forward to empower South Africa beyond the current affairs.

The Billionaire's in the book provide jobs to millions of people,but I don't hear how they make an impact in Black Communities or individuals around where they conduct business🤔

The book was used to address personal agendas and therefore for me something doesn't settle 😕

[Shibishi Maruatona · Rating 1 out of 5]

Completely unconvinced

The author comes across as an apologist for the inexplicable Afrikaner choice to exclude the majority Black South African population from economic and political participation especially given their often repeated narrative that their emancipation efforts arose as a result of themselves being excluded by English South Africa resulting in the 2 Anglo-Boer wars. I have never understood this dynamic because one would have thought that given their own lived experience of oppression in the hands of the English they would have espoused equality to be inclusive to ALL people living in South Africa.

[Gideon · Rating 3 out of 5]

Fascinating insight to some of the most successful and wealthiest Afrikaners although unfortunately only scratched the surface; Quite a lot on the Ruperts but not much else on anyone else (i.e. hardly touched Wiese other than his Steinhoff experience and likewise not much on Mouton (PSG), Le Roux (Capitec) nor Hertzog (Mediclinic).

I founding ending and conclusion a little flat and inconclusive (I actually thought I had gone to the notes section by accident - not realizing the book had ended.)

I think there is a much more comprehensive story to be told here. Maybe in another book...?

[Mo Sande · Rating 5 out of 5]

Book no. 24

An accidental read because I needed something to while away an hour and my friend left me the book he was reading at the time. In that hour I got drawn in, and he let me keep it and finish it.

I had no expectations, because it wasn’t on my reading list. And because thought I’d never had more than a cursory interest in South Africa’s business and economic history.

“Thought” because this book connected the dots on several leading stories I’d followed over time, e.g. the Gupta-Bell Pottinger state capture saga.

I enjoyed it immensely, and now ANC Billionaires, also by Pieter du Toit, is on my list.

#bookworm #readinglist #bookclub #kindlereads

[Benji Barber · Rating 4 out of 5]

This book started with some nerve jolting issues, I truly worried we were going down the bash the old rich kind of journey, not that I am one, but in reading further I truly grew a greater respect for the Rupert name, a tough man but a great businessmen, I in my mind had given up my job and moved to stellenbosch to find a job with remgro, a great company surrounded by even greater startups, no doubt the steinhoff stigma will remain for years to come but the great minds will always prevail

[Glen · Rating 3 out of 5]

Audience: South Africans; Business people; Accountants; Rugby fans; People interested in politics, intrigue and scandal.

The Good: The chapters covering the Steinhoff scandal and SARU Chief Jurie Roux read like a John Grisham novel.

The Bad: The prose is not the best and is quite repetitive.

The Ugly: None

Verdict: A quick, worthwhile read but probably won't appeal to people unfamiliar with South African business and politics.

[Kananelo Sebati · Rating 3 out of 5]

I enjoy Pieter du Toit’s style of writing but this book does not focus on this ‘mafia’ at all. It gives little insight into how this label became so pervasive. It is repetitive and in my opinion biased. Its focus is on venerating Rupert family and criticising Markus Jooste and his ‘inkommer’ posse.

There are other books more likely to give better insight into this elite group of billionaires and the dorp they call home.

[Lincoln · Rating 1 out of 5]

Honestly it wasn't my cup of tea, no real insights on how old money in SA came to be.
The book felt more like a tell all on the Steinhoof incident, made Stellenbosch feel like on old boys club (I haven't lived there yet so I can't comment if this is true).
I'll probably forget everything I read in the coming years, I wanted to get some insight on the Rupert and Oppenheimer family.

[Fungai Jura · Rating 3 out of 5]

Doesn't ask enough hard questions

Decent read that doesn't do enough to expose how the powerful Afrikaanar networks have used their apartheid gained power to shut out black South Africans trying to break into big business and high finance, as well as their complete indifference to issues such as the land question

[Rodney Douglas · Rating 3 out of 5]

I was left a bit disappointed. The book is nicely structured to give you background on how wealth started accumulating in Stellenbosch and how it has been sustained. It profiles three billionaires and how they integrated into the culture of the town. If you are looking for more behind-the-scenes information that is saucy,t his ain't the book for you, but well worth the read.

[Jan Rabie · Rating 2 out of 5]

The book was obviously written on instruction from the Ruperts after the disastrous Power FM interview but overall it was a fairly interesting read. Here and there are a few interesting anecdotes but there is nothing revolutionary in the book. The chapter on Jurie Roux seems out of place but perhaps there wasn't enough otherwise to write a book about.

[Hans · Rating 3 out of 5]

Well researched timeline of how Afrikaner businesses developed, and the key role of the Rupert family in doing the right thing, based on values and on the notion that the rising tide lifts all boats, ie the more benefit the better it is. But not an easy read, as du Toit assumes readers are fully in the loop on the companies and on who is who.

[Marisa · Rating 4 out of 5]

Fascinating read touching on the history of South Africa in the early apartheid years through democracy and beyond. The main focus is on an elite group of Afrikaans business people, describing how they built their empires, their views on politics and South Africa and their links to politicians. The book starts and ends with the Rupert family and explores the Steinhoff scandal along the way.