Cape Town — South African billionaire Douw Steyn has passed away, his family confirmed on Tuesday.
He was 72.
Steyn was renowned for founding Auto & General insurance in South Africa, the BGL Group in the UK (which owns Compare the Market), and for creating Steyn City, a residential and lifestyle estate in northern Johannesburg.
According to News24, In a 2014 interview, Steyn expressed that his decision to develop Steyn City was driven by his loyalty to South Africa.
‘I’ve always wanted to invest further in my country. The spirit of ubuntu is unique and unparalleled anywhere else in the world that I’ve lived or visited,’ he was quoted as saying.
INSURANCE VISIONARY, DOUW STEYN, DIES AT THE AGE OF 72.
Douw Steyn, the insurance giant responsible for reimagining and revolutionising the insurance landscape, has passed away at the age of 72.
Steyn will be remembered as an exceptional entrepreneur who built a global… pic.twitter.com/eQ1VaZ7D79
— Yusuf Abramjee (@Abramjee) February 4, 2025
‘I could have invested in a luxury residence in Europe or in the States, but instead I chose to invest in South Africa. This is indicative of the confidence I have in our country and the success of Steyn City.”
Steyn also supported his wife Carolyn’s 67 Blankets cause and donated R320 million towards Covid-19 relief, Good Things Guy reported.
His contributions extended to his former home, the Saxon Hotel, where Nelson Mandela once stayed, the report said.
Steyn’s legacy includes job creation, investment attraction, and charitable efforts that will continue to benefit South Africans.
Tributes have been pouring in for the influential businessman.
RIP dear friend #DouwSteyn Thank you for your friendship to me, Madiba and many others.
Full statement on my Facebook page. pic.twitter.com/i6vYgXjhDI— Zelda la Grange ©™✌ (@ZeldalaGrangeSA) February 4, 2025
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Picture: X/@Abramjee
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Compiled by Betha Madhomu
