Billionaire entrepreneur Douw Steyn passes away
Steyn City has announced the passing of its founder, billionaire businessman Douw Steyn.
Steyn passed away at the age of 72.
“Steyn will be remembered as an exceptional entrepreneur who built a global business of immense scale across seven countries and a visionary with a deep-seated commitment to South Africa and its people,” the businesses he founded said in a joint statement on Tuesday.
Steyn stepped down as Executive Chairman of his global business interests in 2012.
Collectively, these businesses now employ over 10,000 people, who are based in over 50 offices globally.
When former President Nelson Mandela was released from prison, he found refuge in Steyn’s home in Johannesburg, where he completed his autobiography, Long Walk to Freedom.
Steyn’s home would later become the Saxon Hotel, Villas and Spa.
“Mr Mandela counted Steyn as one of his most valued friends, and Steyn referred to ‘Madiba’ as a father figure. In 2005, Mr Mandela said that Steyn was ‘not only a great businessman and visionary’ but one of this country’s most successful entrepreneurs who enriched South Africa with his business skills and who always believed in South Africa’s future as a country of opportunity,” the statement continued.
Steyn recently pledged R370 million through the Douw Steyn Family Trust and the companies he founded to assist in coronavirus relief efforts.
R50 million went towards the National Solidarity Fund, R250 million went towards supporting feeding schemes in Diepsloot, Cosmo City, and beyond, and a relief fund of up to R70 million was established to support small businesses.
Steyn is survived by his wife, Carolyn, his three children and their families.
Reacting to Steyn's passing, the DA lauded his entrepreneurial spirit, which was marked by successful ventures such as the BGL Group and Steyn City.
“He not only built a business empire across multiple countries, but he also showed a great commitment to South Africa, both in business and in his personal life. His generous contributions to the nation, particularly during the COVID-19 pandemic, are a testament to his desire to give back and to make a positive difference,” the party said.
