PSG’s founder Jannie Mouton has started giving away the billions in personal wealth he has accumulated – and it’s all because of the example of a man who lives on the other side of the world. In this inspirational interview, Mouton emphasises the “outlier” qualities behind his own company and its creations Capitec and Curro, when explaining it watching Berkshire Hathaway chairman Warren Buffett on television which sparked his own decision. Buffett, he said, “had a big smile on his face” when the interviewer asked him about the decision to give 99% of his wealth to the Bill and Melinda Gates Foundation. PSG’s founder says as there no nothing similar to that charitable trust in his native South Africa, his money will go into the Jannie Mouton Foundation – and will be invested in helping his own people and primarily in education. An extraordinary entrepreneur who is bequeathing an extraordinary legacy. – Alec Hogg
Well, it’s a warm welcome to Jannie Mouton, who did something quite extraordinary this week when he decided to allocate 40% of his shareholding in PSG into a charitable trust. Into what is now called ‘The Jannie Mouton Foundation.’ We were talking about this yesterday, Jannie, David Shapiro and I, and he said that it looks like you followed the example of Warren Buffett.
There is no doubt in my mind that he inspired me. I listened to him, his last talk on TV, 2 or 3 months ago. When he talked about his foundation there came a smile upon his face, he looked happy. That inspired me. The next day I was walking on the farm and realised that this is what I have to do as well. I’m sitting with the pledge of Warren Buffett in front of me.
That’s incredible, Jannie and it’s a billion Rand decision.
Yes, keep in mind that’s step number one. I have some bigger plans in place. The total value of my PSG shares that I own is about R12bn, or something like that so there’s a long way to go but we do it. There’s all sorts of rules and regulations, again, some of my PSGs I’ve given to the banks as securities. It’s not to donate it like that but I have a long-term plan to create something like Warren Buffett, the big boss and not my wealth.
Why?
SA was good to me. PSG, is a new SA company. I’m also looking at the positive side, if I travel overseas, myself and my family. It’s always great to come back to SA. My kids are here. My grandchildren are here. My family are here, SA was good for me.