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
editLevitt founded multiple real estate, investment and technology companies. He is best known for developing auctions and micro-logistics parks in Southern Africa.[1]
Early career
editWhile 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
editAfter 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 2011 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]
Inospace
editIn 2017 Levitt founded Inospace, an owner and manager of serviced industrial and logistics parks.[11] The company began with one industrial park in Epping, Cape Town and grew through acquisitions.[12] Under Levitt's leadership, Inospace grew its assets in South Africa and the United Kingdom to over R3billion.[13] In 2022 Inospace concluded a R1,25billion transaction with Fortress REIT Ltd.[14] In 2023, the company branched into the logistics sector, offering outsourced warehousing and fulfilment services to e-commerce businesses [15]
Lisa Proptech
editIn 2023, Dutch-based technology platform Lisa BV acquired the core leasing technology platform from Inospace, South Africa’s largest last-mile logistics operator.[16] Levitt was appointed as the South African CEO and Dutch non-executive Chairman.[17]
Lift Airline
editLevitt 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
editIt Takes a Tsunami (2022), published by Mercury.[19]
Community positions
editIn 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.
- ^ 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.
- ^ Mutisi, Tapiwa (18 October 2023). "Smart leasing platform Lisa BV launches in South Africa". Innovation Village. pp. 2–3.
- ^ Andersen, Alistair (26 October 2023). "Game-changing proptech: Lisa smart leasing platform launches in South Africa". Property Flash.
- ^ 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.