Net Worth Ranker
What Was Sol Kerzner’s Net Worth?
At the time of his death in March 2020, Solomon “Sol” Kerzner, a prominent South African businessman and accountant, had a net worth of $600 million [1]. Kerzner accumulated his wealth through a long and successful career in the hospitality industry, primarily as the Founder, Chief Executive Officer, and Chairman of Kerzner International Holdings Limited [1]. His strategic vision and entrepreneurial spirit led to the establishment of two of South Africa’s largest hotel groups: Sun International and the Southern Sun Hotel Group [1]. Kerzner’s career significantly impacted the development of tourism in South Africa, Mauritius, the Maldives, Dubai, and the Bahamas [1].
Sol Kerzner’s Career Highlights and Wealth Accumulation
Sol Kerzner’s journey to a $600 million net worth began after he graduated from the University of the Witwatersrand, Johannesburg, with a BCom (Hons) in Accounting [1]. He qualified as a Chartered Accountant and took over the management of his family’s kosher hotel business [1]. In 1962, he purchased the Astra Hotel in Durban, which led to the construction of South Africa’s first five-star hotel, the Beverly Hills Hotel in Umhlanga, opening in late 1964 [1]. Kerzner expanded his portfolio with the 450-room Elangeni Hotel in Durban [1]. In 1969, he partnered with South African Breweries to launch the Southern Sun Hotels chain, which grew to include over 30 luxury hotels by 1983 [1].
In 1975, Kerzner expanded internationally with the opening of Le Saint Géran hotel in Mauritius [1]. A major milestone was the 1979 development of Sun City, where he built four hotels, two golf courses, a man-made lake, and an arena that hosted performances by renowned artists [1]. This ambitious project, while successful, was also controversial due to its association with the apartheid era [1]. By the early 1980s, Sun International was generating substantial revenue, although specific figures are not publicly available.
Kerzner continued to expand his reach into the global hospitality market. In 1994, he acquired the Paradise Island Resort in the Bahamas, transforming it into a 2,300-room property featuring one of the world’s largest man-made marine habitats [1]. This redevelopment significantly increased the property’s value. In 1996, Kerzner opened the Mohegan Sun casino in Connecticut and later added a 1,200-room hotel in collaboration with the Mohegan Tribe of Connecticut [1].
In 2002, Kerzner launched One&Only Resorts, which operated eight properties in various locations, including Mexico, the Bahamas, South Africa, the Maldives, Dubai, Mauritius, and Hayman Island [1]. In 2007, he expanded Atlantis, Paradise Island with The Reef and The Cove, adding over 1,000 rooms, retail outlets, and restaurants [1]. In 2008, he opened Atlantis The Palm in Dubai, further solidifying his presence in the luxury resort market [1]. These ventures significantly boosted his net worth through increased property values and revenue generation.
While specific salary details for his roles at Kerzner International Holdings Limited are not publicly available, it’s reasonable to assume that as Founder, CEO, and Chairman, Kerzner received a substantial annual salary and performance-based bonuses, contributing significantly to his overall wealth. It was reported in 2013 that Kerzner was developing an Atlantis hotel in China on Hainan Island costing over $1.6 billion [1]. While this project likely involved significant investment and financing, it underscores the scale of Kerzner’s business operations and the potential for substantial returns.
Other Factors Influencing Sol Kerzner’s Net Worth
Beyond his direct involvement in hotel development and management, Kerzner’s net worth was likely influenced by strategic financial decisions and investments. The 1984 agreement with Bophutatswana’s Minister of Finance, Leslie Young, which allowed Sun International to claim tax deductions for investments that advertised apartheid abroad, highlights a complex aspect of his business dealings [1]. This arrangement, along with the 1987 agreement that directed 90% of taxes from entertainers performing in Bophutatswana to Sun International, provided significant financial advantages to his company [1]. The extent to which these arrangements directly impacted Kerzner’s personal net worth is difficult to quantify but likely contributed to the overall financial success of his ventures.
In 2010, Kerzner was appointed as a Knight Commander of the Most Distinguished Order of St. Michael and St. George (KCMG) [1]. In 2005, Hotels” magazine named him Hotelier of the World. In 2009, he received the Albert E. Koehl Lifetime Achievement Award from the Hospitality Sales and Marketing Association International (HSMAI) [1]. Kerzner also received Lifetime Achievement Awards from the Variety Club Property Awards and International Hotel Investment Forum (IHIF), and was inducted into the U.S. Gaming Hall of Fame [1].
Kerzner was married four times, first to Maureen Adler with whom he had three children: Andrea, Butch, and Beverly [1]. Following his divorce from Maureen, he married Shirley Bestbier, and they had son Brandon and daughter Chantal [1]. Kerzner’s third wife was Anneline Kriel, Miss World 1974, with whom he was married for five years [1]. His fourth wife was Heather Murphy, from 2000 to 2011 [1]. Sol Kerzner died of cancer on March 21, 2020, at the age of 84 [1].
