South African Billionaire
By Thabo Mosia
South African billionaire businessman Douw Steyn, renowned for founding the BGL Group and developing Steyn City, has passed away at the age of 72. His family confirmed his death on Tuesday, 4 February 2025, following a prolonged illness.
Steyn was a visionary entrepreneur who built a global business empire, revolutionizing industries in insurance, property development, and hospitality. He was widely admired for his business acumen, philanthropic efforts, and commitment to South Africa’s growth.
Douw Steyn’s Legacy: A Life of Business and Vision
Steyn was best known for:
✔ Founding Auto & General Insurance in South Africa, pioneering direct motor insurance sales.
✔ Expanding his insurance business internationally, with successful ventures in the UK, Australia, and other markets.
✔ Establishing the BGL Group, which became one of the most successful insurance businesses in the world.
✔ Developing Steyn City, a luxury lifestyle estate spanning 2,000 acres in northern Johannesburg.
His business empire grew across seven countries, employing over 10,000 people in more than 50 offices worldwide.
Nelson Mandela and the Saxon Hotel Connection
Beyond his business success, Steyn shared a close friendship with the late President Nelson Mandela.
✔ Following Mandela’s release from prison, he stayed at Steyn’s home in Johannesburg, where he wrote his autobiography, Long Walk to Freedom.
✔ This home was later transformed into the Saxon Hotel, Villas & Spa, one of South Africa’s most prestigious luxury hotels.
✔ Mandela once described Steyn as “not only a great businessman and visionary but also one of the country’s most successful entrepreneurs.”
Steyn remained a strong advocate for South Africa, consistently investing in businesses that contributed to the country’s economic growth.
Steyn’s Philanthropic Contributions
Douw Steyn was not only a business leader but also a philanthropist.
During the COVID-19 pandemic, he:
✔ Donated R370 million through the Douw Steyn Family Trust to support relief efforts.
✔ Contributed R50 million to the National Solidarity Fund.
✔ Allocated R250 million to feeding schemes in Diepsloot, Cosmo City, and surrounding communities.
✔ Set up a R70 million relief fund for small businesses affected by the pandemic.
His commitment to giving back demonstrated his deep connection to South Africa’s people and communities.
Political and Public Reactions to Steyn’s Passing
Steyn’s death has been met with tributes from business leaders, politicians, and the general public.
✔ The Democratic Alliance (DA) praised his entrepreneurial spirit, highlighting his commitment to South Africa’s economy and philanthropic contributions.
✔ Business leaders described him as a visionary who reshaped the insurance and property industries.
✔ Social media has been flooded with messages celebrating his legacy and impact.
His investments in South Africa, particularly Steyn City and the insurance sector, have left a lasting mark on the country’s economic landscape.
Steyn City: A Symbol of His Vision
One of Steyn’s biggest projects, Steyn City, is considered one of the largest and most luxurious mixed-use developments in Africa.
✔ Spanning 2,000 acres, it features high-end homes, parks, schools, and recreational facilities.
✔ The estate represents Steyn’s dream of creating a world-class lifestyle estate in South Africa.
✔ His investments in property development helped position South Africa as a destination for luxury real estate.
His forward-thinking approach to urban living and sustainability will continue to shape the real estate industry for generations.
Survived by His Family
Steyn leaves behind:
✔ His wife, Carolyn Steyn
✔ His three children and their families
His passing marks the end of an era, but his legacy will live on through the businesses he built and the communities he supported.
Final Thoughts: A Legacy That Lives On
Douw Steyn’s contributions to South Africa and the global business landscape are immeasurable.
✔ His insurance empire transformed the industry.
✔ His investments in South Africa’s economy helped create jobs and opportunities.
✔ His philanthropy provided relief to thousands of people.
While South Africa mourns his passing, his legacy as a visionary entrepreneur, philanthropist, and nation-builder will remain alive.
Rest in Peace, Douw Steyn (1952 – 2025).

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