Family and friends come before money
Jannie Mouton, billionaire founder and chairman of the PSG Group, is known in investment circles for his ability to spot the next big thing. He tells Lindo Xulu about Bentleys and the danger of doing business with the wrong people
WHAT lesson that you picked up during your childhood has contributed to your success?
As a kid I always had to work for my pocket money and from this experience I not only learnt about money, but how to save it. When it comes to spending, what would you consider to be your biggest extravagance?
I’d have to say my love for game and wine farms. What is the one thing you regret buying?
It would have to be expensive cars, because over time they diminish in value. But, having said that, I’m not much of a car person. What would your biggest investment lesson be?
I learnt how to invest in shares and not speculate. Over the years I’ve come to realise that, when it comes to investing, there are two things to consider: always try to go against the trend and buy into companies that you believe in. When it comes to signing a business transaction, what has been your biggest mistake?
Without mentioning any names, I’ve gotten into deals with people I shouldn’t have. So I’d have to say, always make sure you spend enough time researching as well as understanding the person you’re about to do business with, or you’ll end up getting a nasty surprise.
Which car are you driving?
The latest top-of-the-range Bentley, but I can’t say which version because I’m not really into cars.
When you go shopping, do you prefer paying for things in cash or credit?
I mostly tend to use a credit card, especially for smaller items.
Do you use online banking?
No. When it comes to banking I tend to leave that up to my accountant. What was your first job and how much did you earn?
I was an articled clerk working at PricewaterhouseCoopers and my first salary was R150 per month. What advice would you give the next generation of entrepreneurs?
Be patient. Don’t try to go out on your own at the age of 25 because you’re not yet wise enough. From the time you leave university to the age of 35 — that’s the time you spend learning about life and building up experience. Once you’ve done that, then you can go out on your own.
Is money important?
It certainly makes you comfortable, but it’s not the most important thing in the world. What’s the use of having money and being surrounded by luxury when you’re alone? Friends and family are the most important things, because during the bad times they are the people who stand by you.