Douw Steyn, a renowned South African billionaire and businessman, has died at the age of 72 after a long illness. Steyn was the founder of the BGL Insurance Group and a close friend of the late South African statesman Nelson Mandela.
He was widely regarded as a “visionary” with a “larger than life character” in South Africa.
Steyn’s entrepreneurial journey began in 1975 when he founded Steyn’s Insurance Brokers, which eventually led to the establishment of Auto & General and BGL Insurance in the UK.
He also developed a luxury estate, Steyn City, around 2010, and founded the Steyn Foundation to support impoverished townships.
The Nelson Mandela Foundation mourned Steyn’s death, remembering him as someone Mandela “regarded as a friend”.
Steyn had supported Mandela in various ways over the years, even providing him with a place to stay during his separation from Winnie Madikizela-Mandela in 1992.
Steyn is survived by his wife, Carolyn, and their three children.
His legacy as an exceptional entrepreneur and philanthropist will be remembered across the globe.
