[Image: YouTube / Top Billing]
South African billionaire and businessman Douw Steyn, died aged 72 on Tuesday, 4 February.
Steyn, known for his global success in the insurance industry, died following a long period of poor health.
Regarded in South Africa as a “visionary” and an “exceptional entrepreneur”, he founded the BGL Insurance Group and was a good friend of Nelson Mandela.
Steyn’s death was confirmed by Steyn City Properties, the company behind the eponymous luxury golf estate he founded and developed in 2015, per BBC.
“It is with profound sadness that we announce the passing of the visionary behind Steyn City,” the company said in a statement.
It added that Steyn would be “remembered as an exceptional entrepreneur who built a global business of immense scale across seven countries”.
According to the Sunday Times, Steyn had a net worth of over R70 billion, making him one of the richest people in South Africa.
His sprawling residential lifestyle estate located in the northern part of Johannesburg was designed to “create a self-sustaining community”. This multi-billion rand mixed-use development project was also home to Steyn’s very own “palace”.
Starting out slow in the suburbs of Brits in the North West, the Saffa soon made a name for himself as an insurance tycoon and property estate developer, leading a life of luxury in a palace fit for a king in the “Palazzo Steyn”.
Steyn and his wife Carolyn called this sprawling property located in Fourways home, grand enough to be featured in a segment of the luxury magazine TV show Top Billing in 2018.
Around 2014, the 3,000 square metre home was valued at R250 million when it was completed and is said to be the most expensive home in the country.
BusinessTech notes how the mansion takes most of its inspiration from classical Italian design, including the bronze dome in the entrance hall, the marble floors, and many of the internal finishings. The mansion also features an aqueduct that almost completely circles the property, designed to look as if it has collapsed over a gorge.
Inside, some of the lounges echo ‘Gatsby-era’ decor and design, while the outdoor areas feature stylings from Europe, India, the Middle East and even Africa.
It boasts seven bedrooms, an indoor pool and outdoor infinity pool, a spa, a gym, and a two-storey library.
Take a tour with Top Billing:
Meanwhile, Steyn’s garage is also made of marble and houses dozens of luxury cars. That’s right, the billionaire not only lived in opulence but drove the best of the best, owning a collection of luxury sports and vintage cars.
His most noteworthy one was the Douwmobile, a one-of-a-kind Rolls Royce Phantom, custom-designed by Italian manufacturer Pininfarina.
Sad to hear about the death of Douw Steyn, a pioneer in the insurance and property industry, not to mention owning one of the most unique Rolls Royce in the world.
Condolences to his family and friends. pic.twitter.com/g8n1GwWCQJ
— Amith Gosai (@AMG133) February 4, 2025
At this rate, we can guess he’s resting in luxury, too.
[Source: BusinessTech]
