“A New Chapter”: Inside the Luxury Home Markus Jooste Sold for 7 Figures in Hermanus
- A historic coastal property in Hermanus that once belonged to the families of Markus Jooste and Johann Rupert has been sold to investors
- The estate in the Voëlklip area covers 7,000 square metres across two plots, complete with gardens and sea views
- The new owners have not yet revealed what they plan to do with the property, but have said they are exploring options
Source: UGC
A coastal estate in Hermanus with one of South Africa's most talked-about histories has changed hands for R105 million.
According to BusinessTech on 10 March 2026, the Voëlklip property, once associated with both the Jooste and Rupert families, has been acquired by investors. These investors are calling the property a long-term strategic holding.
The estate is made up of two plots totalling 7,000 square metres. It sits in one of the most recognisable and sought-after parts of Hermanus, with extensive gardens and direct sea views. Property group Seeff described it as among the most iconic estates in the area.
Who was Markus Jooste?
Markus Jooste was born in Pretoria on 22 January 1961 and went on to become one of the most powerful businessmen in South Africa. He trained as a chartered accountant and eventually became CEO of Steinhoff International, a global furniture and retail conglomerate that at its peak employed over 130,000 people across five continents. The company was listed on both the Johannesburg and Frankfurt stock exchanges.
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For years, Steinhoff was seen as one of South Africa's great corporate success stories. That all collapsed in December 2017 when Jooste resigned suddenly as the company admitted to widespread accounting irregularities. What followed was a huge corporate scandal. Billions were wiped off the markets in days, pension funds took massive hits and thousands of ordinary investors lost money they could not recover.
A PwC investigation later linked Jooste directly to fictitious transactions and inflated figures stretching back years. The JSE fined him R15 million and banned him from serving as a director of any listed company for 20 years. Things got even heavier when the Financial Sector Conduct Authority handed him a R475 million fine. Briefly News reported that Jooste died the very next day, on 21 March 2024 at the age of 63, in Hermanus, the same town where this property now sits.
As for the Rupert family, Johann Rupert, head of the Rupert family, has a net worth of around $16 billion, making his family the wealthiest in South Africa.
Paul Kruger of Seeff Hermanus said the buyers are currently looking at several options for the property and intend to approach its future in a responsible way that also benefits the broader Hermanus community. Further details are expected once their evaluation is complete.
View photos of the luxury estate here.
Source: UGC
More on South African property and wealth
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- Footage of the inside of Rihanna and A$AP Rocky's Beverly Hills mansion surfaced online after a scary incident outside their home.
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Source: Briefly News
