Billionaire businessman and property mogul Douw Steyn has died at the age of 73.
Douw Steyn dies: What’s the cause of death?
Steyn, who had been battling a prolonged illness, passed away on Monday, as confirmed by Steyn City Properties CEO Giuseppe Plumari. He had reportedly been in declining health for several years, though specific details regarding his illness were not disclosed.
A statement from the businesses Steyn founded described him as an “exceptional entrepreneur” and “a visionary deeply committed to South Africa and its people.”
His passing has been met with tributes from the business world, acknowledging his contributions to the insurance and real estate industries, both locally and internationally.
Douw Steyn biography
Douw Gerbrand Steyn was born in December 1952 in Johannesburg, South Africa. He attended school in Linden before enrolling at Potchefstroom University for Christian Higher Education, where he graduated in 1978 with a degree in quantity surveying.
Steyn began his career at Eskom’s Mega Watt Park but soon moved into the insurance sector, where he would make his fortune. In 1992, he founded the Budget Insurance Company, which later evolved into the UK-based financial services group BGL, known for operating Comparethemarket.com.
His business interests extended across multiple industries, with operations spanning seven countries.
One of Steyn’s most ambitious projects was the development of Steyn City, a luxury private estate situated between Fourways and Lanseria in Johannesburg.
Launched in 2015, the project received an initial investment of R6.5 billion, with a further R5.5 billion injected in 2019, solidifying its status as one of the largest residential developments in South Africa.
Beyond business, Steyn was known for his philanthropy. During the COVID-19 pandemic, he pledged R320 million towards relief efforts in South Africa through the Douw Steyn Family Trust.
His charitable efforts extended to education, healthcare, and social development programs.
His personal life saw high-profile relationships, including a legal battle with former partner Donne Botha, who unsuccessfully claimed half of his estate.
In 2013, he married Carolyn Steyn, a radio presenter and philanthropist, in a ceremony attended by prominent figures, including Graça Machel.
Reactions to Steyn’s death
News of Steyn’s passing has drawn reactions from business leaders, government officials, and the public.
Tributes have poured in, highlighting his role in reshaping the insurance industry and redefining luxury living in South Africa.
Here are some of the tributes we sourced: