Before we go any further, let’s all take a few minutes to think what we would get up to if we had R37 billion. By all means stare at the screen so it looks like you’re working, the weekend is almost upon us.

Now return to real life and let’s get on with business. South African Christo Wiese has just thrown down an almighty sum of money to buy New Look, a UK high street fashion retailer, snapping it up before it was floated on the stock market.

For those who are unfamiliar with Wiese, he is the man behind Shoprite, which has helped him amass a personal worth of around $5.5 billion (R65 billion). Here’s the Telegraph:

[Wiese] is no stranger to the UK after snapping up fitness chain Virgin Active in a £1.3bn deal last month…

Described as a “challenger brand” family fashion chain, the retail venture will target mothers and children, and sell a range of affordable fashion products similar to what is on offer in Britain’s supermarkets.

I find it strange that anyone who is already worth R65 billion has any desire to expand into new business ventures. Me, I’d be somewhere near the beach with a drink in hand. Jozi folk, you remember what a beach is right?

[source:telegraph]