Paul van Zuydam by no means chased wealth for its personal sake. His rise, just like the cast-iron cookware that anchors his fortune, got here slowly and with care, formed by persistence, shut consideration to element and a behavior of stepping in when others pulled again.
In December 2025, Forbes’ real-time estimates his internet value at $1.7 billion, making him South Africa’s latest billionaire and elevating the nation’s whole on the checklist to eight. At 87, he’s the oldest amongst them, displaying that lengthy careers can nonetheless produce late monetary features.
Volcanic flame pot units model aside
Paul van Zuydam’s story begins removed from factories and monetary rankings. He grew up as considered one of seven kids on a South African farm, the place work began early and assets have been shared. These years taught him thrift and persistence. Later, stints in Canada, the UK and throughout Europe widened his view, exposing him to totally different markets and enterprise customs. The expertise helped him develop a peaceful, sensible fashion that may outline his later choices.
By the mid-Nineteen Eighties, van Zuydam was chairman and chief govt of Status Group, a maker of stainless-steel cookware and kitchen equipment. In 1987, a quick observe from a former colleague in Paris modified his focus. Le Creuset, the French-Belgian producer of enameled cast-iron cookware, was underneath pressure. Curious, van Zuydam organized a low-key go to to its manufacturing facility, uncertain whether or not the enterprise may very well be saved.
What he discovered was an organization rooted in craft. Based in 1925 in Fresnoy-le-Grand, northern France, Le Creuset had grown close to key transport routes for iron and different uncooked supplies. It constructed its status on a demanding course of: coating forged iron with enamel, a way requiring precision as a result of the supplies develop otherwise underneath warmth. Its brilliant “Volcanic Flame” orange pot set it aside in kitchens lengthy dominated by plain, utilitarian designs.
Iconic cookware enters popular culture kitchens
Le Creuset endured World Struggle II and expanded afterward, shopping for rivals and including grills, fondue units and, in 1958, the casserole pot that turned its hallmark. The model even discovered its approach into well-liked tradition, showing in tv kitchens and within the arms of cooks similar to Julia Youngster. However by the Nineteen Eighties, household disputes and mounting debt had taken their toll.
“I used to be fairly overwhelmed after I noticed the complexity of the manufacturing course of,” van Zuydam mentioned of that first go to. “It was primarily made and poured by hand.” He rapidly noticed that colour, as a lot as sturdiness, outlined the model. Others made comparable pots, he famous, however few cared whether or not they stood out on a shelf.
Van Zuydam first tried to purchase the corporate by means of Status. Though a suggestion was reached, Status was quickly offered to an American tobacco agency. Information of a potential U.S. takeover unsettled employees in France, strikes adopted and the deal fell aside. Reasonably than abandon the thought, van Zuydam resigned, sought approval and bought Le Creuset himself.
Regular turnaround boosts Le Creuset output
The turnaround that adopted was regular moderately than showy. Manufacturing was consolidated in Fresnoy-le-Grand, extra services have been closed and prices tightened. Automation minimize staffing wants by roughly 10 p.c, whereas capability on the cast-iron plant was doubled, lifting output to greater than 20,000 items a day. Enlargement into the US and Asia adopted, as customers embraced the model’s mixture of sturdiness and design.
Forged iron stayed in France, however the vary widened. A ceramics plant in Thailand started supplying mugs, plates and kettles in acquainted hues. Stock was constructed as much as meet demand, and the corporate prevented borrowing, carrying no outdoors debt since 2001. Le Creuset doesn’t publish full monetary statements however says annual income is about $850 million.
Van Zuydam’s efficiency has positioned him among the many world’s wealthiest, elevating South Africa’s billionaire rely to eight alongside Johann Rupert, Nicky Oppenheimer, Koos Bekker, Patrice Motsepe, Michiel le Roux, Christo Wiese and Jannie Mouton. His wealth displays a profession of regular progress. He invested in a struggling manufacturing facility, revered its traditions and utilized disciplined administration, constructing a profitable enterprise one Le Creuset pot at a time.
