Shoprite's Whitey Basson (South Africa’s best-paid exec, by far) calls it a day

It stopped being fun. There’s no fun in running a big business today.

Whitey Basson

My cholesterol is too high and my feet are aching.

Whitey Basson

Shoprite CEO Whitey Basson has decided to retire, bringing to a close a wildly successful, 37-year stint at the helm of Africa’s largest retailer.

Under Basson Shoprite grew from eight tiny stores with a combined value of R1 million into the behemoth (market cap R114 billion) it is today.

The Money Show’s Bruce Whitfield called Basson to discuss his retirement.

Listen to the (quite funny) phone call in the audio below (and/or scroll down for more quotes from it).

I didn’t foresee it [how big Shoprite would become].

Whitey Basson

Once a month I felt I had enough! When I see billboards plastered from Stellenbosch to Cape Town with my salary I have that feeling…

Whitey Basson

The nonsense that you have to live with…

Whitey Basson

I’m going to take some time out and just enjoy life.

Whitey Basson

Christo Wiese has never done a day’s work in his life and look at how much money he’s made!

Whitey Basson

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
Treasury says Fica Bill objections are not based on legal opinion

Treasury says Fica Bill objections are not based on legal opinion

The Money Show’s Bruce Whitfield interviews Treasury’s Ismail Momoniat and Banking Association South Africa’s Cas Coovadia.

Why the SA Institute of Race Relations accepted funding from Coca-Cola

Why the SA Institute of Race Relations accepted funding from Coca-Cola

The institute's Gwen Ngwenya explains why it took money from Coca-Cola to fund research on taxing beverages containing sugar.

The world in 10 years' time

The world in 10 years' time

The six megatrends the World Economic Forum believes will happen in the next decade.

How to build an African art portfolio (that'll grow in value)

How to build an African art portfolio (that'll grow in value)

Walker Scott Art Advisory’s Dr Fred Scott gives advice on building a high growth African art portfolio.

Recruitment specialist explains Whitey Basson's R100m bonus

Recruitment specialist explains Whitey Basson's R100m bonus

What is it that makes Basson so valuable? The Money Show's Bruce Whitfield interviews Woodburn Mann’s Andrew Woodburn.

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.