South Africa’s billionaire club has a new member: 87-year-old Paul van Zuydam, president and owner of the iconic French cookware brand Le Creuset. Van Zuydam’s savvy acquisition and turnaround of the then-struggling company in the late 1980s have paid off spectacularly, landing him a net worth of $1.7 billion. Van Zuydam bought the cookware brand after recognizing the enduring value of its craftsmanship and global appeal. Under his ownership, Le Creuset was streamlined, modernized, and expanded internationally, while remaining debt-free since 2001. Today, the company generates over $850 million in annual revenue and produces more than 20,000 items daily. Van Zuydam’s rise brings the number of South African dollar billionaires to eight, a group still led by luxury magnate Johann Rupert.
BusinessTech
