Paul van Zuydam, owner and president of Le Creuset. Pictures: Supplied Another South African has entered the dollar-billionaire chat, making him the eighth from SA on Forbes’ real-time list of billionaires. The list, which tracks the world’s richest people, includes the founder of Capitec Bank, mining giants, the founder of Cartier Luxury jewellery, and now the owner of Le Creuset.
Le Creuset, founded in 1925, is a premium French cookware brand best known for its colourful, enamel-coated cast iron pots and pans. The Forbes real-time list of billionaires provides ongoing updates on the net worth and ranking of each individual Forbes confirms as a dollar-billionaire. The latest South African addition to theForbes real-time list of billionairesis Paul van Zuydam, the man who bought Le Creuset when it was in financial trouble.
The 87-year-old also serves as Le Creuset’s president. He also happens to be the oldest richest South African. He is number 2 210 on the list, making him the eighth-richest person in SA.
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Van Zuydam has a net worth of $1.7 billion (over R28 billion). Under his leadership, Le Creuset has been able to expand without taking on debt since 2001. A person’s net worth is calculated by subtracting their liabilities (debts and obligations) from their assets (everything they own of value).
Assets include cash, investments, real estate, businesses, and luxury items. Liabilities include mortgages, loans, and other debts. For billionaires, their business holdings (like shares in a company) often make up the most significant part of their net worth.
Since stock values fluctuate, their net worth changes frequently, so Forbes tracks it in real time. Forbes says, “The value of individuals’ public holdings is updated every five minutes when respective stock markets are open. Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day.”
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