Rael Levitt
Rael Levitt (born 10 May 1971) is an entrepreneur, author and business leader from South Africa. He is a double master's degree graduate from the UCLA Anderson School of Management and the National University of Singapore.
Career[edit]
Levitt founded multiple real estate, investment and asset management companies. He is best known for developing both auctions and logistics parks in Southern Africa.[1]
Early career[edit]
While studying at the University of Cape Town, Levitt sold his first property in 1989.[1] In August 1992, he conducted his first auction on behalf of Absa Bank Ltd[2] and at the age of 21 founded his first auction company, Levco Auctions.[3] Three years later Levitt sold Levco Auctions to Seeff Holdings Ltd and merged the two companies. Levitt was appointed CEO of the merged company that was renamed Seeff Auctions.[4]
Auction Alliance[edit]
After the delisting of Seeff Holdings Ltd in 1998, Levitt completed a management buyout of Seeff Auctions, renamed the company Auction Alliance and became its CEO.[5][6] In 2006 Auction Alliance sold a 25.1% stake to Amabubesi Investments[7] and in 2010 a 31% stake to Transaction Capital.[8] By 2010 Auction Alliance's turnover was over R300 million, with sales of over R6 billion.[9] In 2011, after a well-publicized dispute arose at an auction, Levitt voluntarily closed Auction Alliance.[10]
Superpom[edit]
In 2012, Levitt acquired a bankrupt Pomegranate orchard at the Bonathaba Farms in Wellington, Cape Town and renamed it Superpom SA.[11] The company became South Africa's largest pomegranate exporter and Levitt became a non-executive Chairman of the company.[12]
Inospace[edit]
In 2017 Levitt founded Inospace, an owner and manager of serviced industrial and logistics parks.[13] The company began with one industrial park in Epping, Cape Town and grew through acquisitions.[14] Under Levitt's leadership, Inospace grew its assets in South Africa and the United Kingdom to over R3billion.[15] In 2022 Inospace concluded a R1,25billion transaction with Fortress REIT Ltd.[16] In 2023 the company branched into the logistics sector offering outsourced warehousing and fulfilment services to e-commerce businesses [17]
Lift Airline[edit]
Levitt is a founding shareholder of Lift Airline, which launched on 10 December 2020. Lift operates on major domestic routes from O. R. Tambo International Airport, Johannesburg using a fleet of Airbus A320 narrow body aircraft, operated by Global Aviation. Levitt is a non-executive director of the airline.[18]
Book[edit]
It Takes a Tsunami (2022), published by Mercury.[19]
Community positions[edit]
In 2010 Levitt was appointed as the Chairman of YAD.[20] He was appointed a trustee of the Rambam Trust, a board member of Glendale care services and the United Jewish Campaign. Levitt is the founding trustee of the Red Circle Trust, which focuses on entrepreneurial educational development.
References[edit]
- ^ a b "On the fall of the hammer". The South African. 10 August 2013. Archived from the original on 10 December 2013.
- ^ "Absa Bank Ltd". Absa Bank Ltd. Archived from the original on 15 March 2011. Retrieved 19 June 2022.
- ^ "Realised vision. WHAT IT MEANS". Archived from the original on 12 December 2013. Retrieved 10 December 2013.
- ^ "Auction Group Luanches". Independent Newspapers. Archived from the original on 4 April 2022. Retrieved 4 April 2022.
- ^ "Business Day". businesslive.co.za. Archived from the original on 17 December 2018. Retrieved 17 December 2018.
- ^ "South Africa: Property Boosts Auction Industry". All Africa. 2 December 2005.
- ^ "Major BEE deal signed under Property Charter". mg.co.za. 4 May 2006. Archived from the original on 4 March 2016. Retrieved 10 December 2013.
- ^ Kamhunga, Sure (16 July 2008). "Transaction Capital acquires 31% of Alliance". BusinessLIVE. Archived from the original on 19 June 2022. Retrieved 6 August 2012.
- ^ "Auction group may face fine of R30m". iol.co.za. Archived from the original on 24 September 2015. Retrieved 10 December 2013.
- ^ Ny'Mumbo, Agola (28 May 2023). "It Takes A Tsunami: A Compelling Tale of Survival, Redemption, and Human Resilience". U Spiked. p. 1.
- ^ "Pomegranate Farms". uff.co.za. Archived from the original on 4 April 2022. Retrieved 4 April 2022.
- ^ "Pomegranates" (PDF). sapomegranate.co.za. Archived (PDF) from the original on 13 February 2022. Retrieved 4 April 2022.
- ^ Wilson, Nick (27 March 2022). "Inofort has big plans for 'last-mile' logistics". The Sunday Times. p. 1. Archived from the original on 3 April 2022. Retrieved 3 April 2022.
- ^ Anderson, Alistair (20 August 2020). "Q&A Rael Levitt: Making industrial space more flexible". Business Day. Archived from the original on 1 April 2022. Retrieved 4 April 2022.
- ^ Bizcommunity, Journalist (30 November 2021). "The Origins of Inospace". Bizcommunity. Archived from the original on 2 December 2021. Retrieved 3 April 2022.
- ^ "Auction Alliance's Rael Levitt returns to property arena". BusinessLIVE. Archived from the original on 17 December 2018. Retrieved 3 May 2019.
- ^ Mhlanga, Denise (6 August 2023). "Inospace launches e-commerce fulfilment warehouse in Cape Town". Business Day. p. 1.
- ^ Smith, Carin (11 December 2021). "Flexibility helped SA's youngest airline celebrate one year, says CEO". News24. Archived from the original on 4 April 2022. Retrieved 4 April 2022.
- ^ Sinxo, Zolani (26 November 2022). "'It Takes a Tsunami': A story of downfalls and success". IOL.
- ^ "New chairman at the head of YAD" (PDF). Cape Jewish Chronicle. Vol. 28, no. 2. March 2011. Archived from the original (PDF) on 23 September 2015.