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Whitey Basson on The Money Show with Bruce Whitfield

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Meet Whitey Basson (the retail guru who turned Shoprite into an R127bn behemoth)

 

Love or hate him; former Shoprite CEO Whitey Basson is a retail genius.

 

Basson led Shoprite from 1979 to 2016.

 

It grew under Basson from eight tiny stores with a combined value of R1 million into Africa’s largest retailer, with a market cap of R127 billion.

 

Basson was, until his retirement at the end of last year, South Africa’s best-paid executive, by far.

 

In 2016; Basson’s remuneration totaled R100.1 million.

 

Shoprite was also compelled to buy back shares from Basson to the value of R1.8 billion.

 

[video=youtube]

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