After retiring from Formula 1, Jody Scheckter cofounded Firearms Training Systems, which he sold in July 1996 for the equivalent of R3.3 billion today.
South African–born Jody Scheckter won 10 Formula 1 Grand Prix races, and after retiring from motorsport, launched Firearms Training Systems, which he sold for $151 million in July 1996.
At the time, $151 million was worth around R665 million. At today’s exchange rate, it would be R2.4 billion. However, adjusted for inflation instead, the amount would be R3.33 billion in August 2026.
Scheckter was born in East London in January 1950 and attended the Vincent Primary School, which is now known as Hudson Park Primary School.
He went on to complete his high school years at the boys-only, semi-private Selborne College in his home town.
Scheckter moved to the United Kingdom in the 1970s, where he quickly rose through the motor racing ranks, with his Formula 1 debut following in 1972.
He debuted at the United States Grand Prix, where he represented McLaren, for whom he had previously raced in British and European Formula 2.
Scheckter placed in ninth place at the 1972 United States Grand Prix, after qualifying to start the race from the eighth-place spot.
He spread his racing across multiple disciplines in the early 1970s, winning the 1973 Sports Car Club of America’s open-wheel racing series for Formula 5000 cars, the SCCA L&M Championship.
Scheckter beat British racer Brian Redman in the Championship, finishing with 144 points compared with second-placed Redman’s 130 points.
Aside from the SCCA L&M Championship, Scheckter entered a further 5 Formula 1 Grands Prix in 1973 with McLaren.
The South African-born racer earned a full-time drive with Tyrrell in the following Formula 1 season, during which he secured his maiden win at the Swedish Grand Prix.
Scheckter placed third overall in the 1974 Grand Prix and went on to win his home Grand Prix in South Africa in 1975. He placed third in the overall standings again in 1976, when he drove the six-wheeled P34.
Scheckter is recognised as the only driver ever to win a Grand Prix in a six-wheeled vehicle. He moved to Wolf in 1977 and won several races for the team, including the Monaco Grand Prix.
He finished runner-up to racing legend Niki Lauda in the overall 1977 standings, and after a winless season in 1978, Scheckter moved to Ferrari.
Scheckter won three Grands Prix in his first season with Ferrari and secured the title with his victory at the Italian Grand Prix. He became the first World Drivers’ Champion hailing from Africa.
However, he wasn’t able to defend his title in 1980 as Ferrari’s team struggled with the 312 T5. He retired at the end of the season, having secured 10 race wins, 3 pole positions, 5 fastest laps, and 33 podiums.
Scheckter got involved in broadcasting when he joined CBS Sports as a pit reporter for its Formula 1 coverage in 1981.
He then joined ABC’s Wide World of Sports as a Pit reporter for the 1983 Monaco Grand Prix. Scheckter founded a weapons simulation business the following year.
The company, called Firearms Training Systems, grew rapidly, and its revenue eclipsed £100 million in the early 1990s.
Firearms Training Systems built firearms training simulators for military, law enforcement, and security organisations.
He sold his share in the business in July 1996, and while the deal’s value was not publicly disclosed, corporate records indicated it was around $151 million.
Based on central bank records, $151 million would have bought between R654 million and R681 million at the time.
Scheckter and his family moved to the UK after the sale, far richer than when they had left for the United States.
At the age of 46, Scheckter bought the 530-acre Laverstoke Park Farm in Hampshire, England, to produce healthy, organic food.
He later purchased a neighbouring farm, expanding the overall property to 2,500 acres. However, this required significant investment, and in 2013, Scheckter admitted that the farm wasn’t profitable.
At the time, the farm was styled as the world’s largest small-holding, and it owned the UK’s largest dairy buffalo herd.
Now in his 70s, Scheckter is selling Laverstoke Park for £58 million (R1.26 billion). Interested parties can bid for individual lots at £8 million (R174 million).
Jody Scheckter with his Ferrari 312 T4, with which he won the 1979 Formula 1 Championship
A stand commemorating the Ferrari 312 T4 and Jody Scheckter’s championship win
Jody Scheckter bought a 1961 Alfa Romeo SZ, similar to the one his father owned. Captioned: “Looking forward to doing it up!”
Jody Scheckter with the Ferrari 312 T4 at a Formula 1 event
Jody Scheckter with the Ferrari 312 T4 at a Formula 1 event
Jody Scheckter enjoying a cocktail in a coconut. Captioned: “Sipping very slowly on this €22 coconut as trying to make it last… No refills!”
Jody Scheckter on a tractor at the Laverstoke CarFest Laverstoke Park. Photographer:
Knight Frank
