KEY POINTS
- Paul van Zuydam is South Africa’s newest billionaire with an estimated net worth of $1.7 billion
- He acquired Le Creuset in the late 1980s and rebuilt it through disciplined expansion
- The company remains debt free and generates about $850 million in annual revenue
Paul van Zuydam did not pursue wealth with urgency or spectacle. His fortune grew slowly, shaped by patience and an instinct for stepping in when others were ready to walk away. That approach has now placed him among South Africa’s wealthiest individuals.
In December 2025, Forbes estimates his net worth at about $1.7 billion, making him the country’s newest billionaire and the oldest on the list at 87. His inclusion brings South Africa’s total number of billionaires to eight.
Van Zuydam grew up on a farm as one of seven children, an upbringing that demanded shared resources and steady work. Those early years fostered habits of thrift and persistence. Later experiences living and working in Canada, the United Kingdom and parts of Europe broadened his outlook and sharpened his business instincts.
Le Creuset and a decisive moment
By the mid 1980s, van Zuydam was leading Prestige Group, a cookware manufacturer. In 1987, a brief message from a former colleague alerted him to trouble at Le Creuset, the French Belgian cast iron cookware maker known for its vibrant orange pots. He visited the factory in northern France and saw a business rich in craft but weakened by debt and internal disputes.
Founded in 1925, Le Creuset had survived war and competition through a demanding enamel process that blended durability with bold design. Van Zuydam recognized that color and craftsmanship gave the brand lasting appeal. After an initial acquisition attempt collapsed, he left Prestige and personally acquired Le Creuset.
A patient global expansion
The turnaround focused on discipline rather than speed. Production was consolidated, costs tightened and output expanded. Automation makes things more efficient without taking away the artisanal quality of the product.The company pushed into the United States and Asia as demand grew.
Cast iron production remained in France, while ceramics manufacturing expanded to Thailand. Le Creuset avoided heavy borrowing and has carried no external debt since 2001. The company does not release full financial statements but estimates annual revenue at roughly $850 million.
Van Zuydam’s wealth reflects long term ownership rather than rapid deal making. He turned a failing factory into a global consumer brand by following tradition and carefully managing expansion. This shows that patience can still pay off in business today.
