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South African billionaire visionary and property mogul Douw Steyn dies at 72

South African billionaire visionary and property mogul Douw Steyn dies at 72
Douw Steyn.(Photo:Darryl HammondGallo Images)
Lisakanya Venna
By Lisakanya Venna
4 Feb 2025
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South African billionaire and founder of BGL Group, Douw Steyn, has died at the age of 72 after years of ill health. Known for revolutionising the insurance industry and creating the luxurious Steyn City development, Steyn leaves a legacy of innovation, philanthropy and unwavering commitment to South Africa.

Douw Steyn, the renowned South African billionaire businessman and founder of BGL Group, died on Tuesday, 4 February 2025 at the age of 72 after a prolonged period of “ill health”. He leaves behind his wife, Carolyn Steyn, a prominent radio presenter and philanthropist, along with three children. Steyn’s significant contributions to the insurance and property development sectors have left an indelible mark on both South Africa and the UK.

Speaking to Daily Maverick, CEO of the South African Property Owners Association (Sapoa) Neil Gopal said: “We are saddened to hear of the passing of Mr Douw Steyn. Douw was a leading visionary and exceptional businessman with skills that are unmatched today. Douw, over many years, navigated difficult waters in the face of insurmountable challenges, but through sheer determination, foresight and perseverance, his accomplishments remain unmatched and are of admirable quality.

“His determination to immerse himself in many sectors of our economy resulted in significant levels of job creation and dedication to noble causes. In the property industry, Douw remains a leading and respected figure with his successful Steyn City development, which was conceived many years ago. Sapoa bids farewell to a man who, in times of upheaval and challenge, demonstrated the courage and boldness to go his own way by turning his ideas into reality, with impressive confidence and visionary determination.” 

Steyn’s entrepreneurial journey


Steyn's journey began in Johannesburg, where he founded Steyn’s Insurance Brokers in 1975. His innovative approach to insurance – introducing a monthly policy that covered both cars and home contents – set the stage for his later successes. In 1985, he launched Auto & General Insurance, which was pioneering in offering motor insurance over the phone. This disruptive model not only changed how insurance was sold, but also paved the way for several other successful financial service brands under the TIH umbrella, including Budget and 1Life.

In 1992, Steyn expanded his horizons by establishing BGL Group in the UK, which became known for its price comparison website, ComparetheMarket.com. Under his leadership, BGL grew into a global enterprise operating across seven countries and employing more than 10,000 people. His strategic vision led to the successful launch of Auto & General in Australia in 2000.

Douw Steyn Douw Steyn. (Photo: Darryl Hammond \ Gallo Images)


A life of impact


Steyn’s influence extended far beyond the business world. In addition to his entrepreneurial endeavour, he was closely linked to South African politics and had a profound impact on the country’s history.

His friendship with Nelson Mandela was particularly significant. After Mandela’s release from prison he found refuge in Steyn’s home in Johannesburg, where he worked on his autobiography, Long Walk to Freedom. This residence later became the renowned Saxon Hotel, Villas & Spa.

Steyn’s passion for wildlife conservation led him to create the Shambala Private Game Reserve in the Waterberg mountains. Mandela was given a dedicated villa at Shambala, where he could work in peace and solitude. The two men shared a deep bond, with Mandela regarding Steyn as one of his most valued friends, and Steyn referring to Mandela as a father figure.

In 2005, Mandela paid tribute to Steyn, describing him as “not only a great businessman and visionary, but one of this country’s most successful entrepreneurs who enriched South Africa with his business skills and who always believed in South Africa’s future as a country of opportunity”.

In addition to his business ventures, Steyn was deeply committed to philanthropy. Through the Douw Steyn Family Trust, he pledged R370-million towards coronavirus relief efforts in South Africa during the pandemic. His charitable contributions included substantial donations to feeding schemes and support for small businesses affected by Covid-19. DA leader John Steenhuisen also paid tribute, saying Steyn not only built a business empire across multiple countries, but also showed a great commitment to South Africa, both in business and in his personal life.

The Steyn City legacy


Steyn’s most ambitious project was Steyn City, a sprawling 2,000-acre residential estate in northern Johannesburg designed to create a self-sustaining community. Besides luxurious living spaces it also focused on job creation – more than 28,000 jobs were generated during the construction phase alone.

Steyn’s life was characterised by his unwavering commitment to South Africa, while his remarkable achievements in insurance and property development have solidified his status as a leading business figure. DM

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