Markus Jooste (former Steinhoff CEO) flaunts his wealth at the races
Rostropovich, a horse co-owned by Markus Jooste, won the Homeserve Dee Stakes in the Chester, England on Thursday by a whopping 3.75 horse lengths.
This is according to an article in Thoroughbred Daily News.
Jooste has been a big name in horse racing since the 1990s.
Until very recently he was the world’s second biggest racehorse owner.
As recently as December 2017 Jooste owned (through “Mayfair Speculators”) 350 horses in training, 100 mares for breeding and a 49% share in Klawervlei horse-breeding farm in Bonnievale.
Mayfair Speculators was also a shareholder in Cape Thoroughbred Sales, of which Jooste was a director.
In December 2017 Absa Bank (that was owed R350 million) and Investec Plc applied for the liquidation of Mayfair Speculators, when Mayfair's Steinhoff shares failed to provide sufficient collateral for its overdraft facilities.
According to court documents, Mayfair Speculators owed Sanlam Capital Markets, Investec Plc and Absa more than R1.2 billion in total.
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