Orlando Pirates is not only the oldest club in South Africa but also one of the most successful thanks to its administration which Irvin Khoza has headed since the early 1990s. Irvin is in the elite class of club owners in South Africa, making so much sense that his net worth is estimated at $10 million.
Currently 74 years old, the Orlando Pirates owner has made his fortune from his various engagements as a businessman, ownership of Orlando Pirates, and through various other means. Khoza’s journey to owning the club started many years ago, and in the process, he recorded some important milestones at different ages in the business aspect of his life and also in his personal life.
Irvin Khoza Joined Orlando Pirates In 1980
Born on January 27, 1948, the Iron Duke has always had good eyes for big things. He had his education in Alexandra and Soweto, and he got involved in football at a very young age. While he did not play the sports on the larger stage, it did not stop him from gunning to be in the administration.
The path of Irvin Khoza to owning Orlando Pirates did not start until over 40 years ago. To be precise, his relationship with the club first began in the 1970s when he was still in his twenties as a cashier. However, he took a giant leap in 1980 when he was only 32 years old by becoming a junior secretary in the club. He maintained the position for a couple of years.
The main defining milestone for Irvin was in 1991, when he became the owner of the club. The football administrator was 43 years old at the time. This is significant because Orlando Pirates has a history that predates the birth of Dr. Irvin. The club was founded in 1937 by a group of young boys who only set out to form football players. It soon became a football team and then a club with Buthuel Mokgosinyane as the first club chairman.
The Amount Khoza Spent In Buying The Club is Unknown
Before the 1990s, the fortune of Orlando Pirates was on a decline, and then in 1991, the club had already gone into turmoil. At this point, Khoza, who has already had an understanding and a strong love for the club, was called to take charge, thereby changing its fortune.
There are some speculations that the Orlando Pirates owner did not buy the club in the conventional sense. It was alleged that he was a senior official at the club before he left for some reason, and then he was brought back to fix the issues the club was having.
His first coming to the club, as stated, was in 1972 when he was just kicked out of college with some of his friends for taking part in a protest. He was invited to the club by his friend, the late China Hlongwane, who brought him in to pose as a lawyer because the club needed one. However, he later left because chaos erupted in the club when some members wanted it to be turned into a company.
Khoza still contributed financially to the running of the club even after he left. This paves the way for him to take over in the early 1990s when there was a need. He became the chairman of the club in 1992.
A Look At The Net Worth Of Irvin Khoza
Khoza has experienced what can be described as an organic rise in Orlando Pirates until he became the club owner. Thanks to this and other things he has been into, the man has a net worth estimated at over $10 million. Thanks to his strong financial chest, he is considered one of the country’s richest club owners.
It is no secret that the main source of his net worth is his ownership of the Buccs. However, he has also made so much money from his various endeavors as a businessman. Since coming to Orlando Pirates, he has attracted massive sponsorship deals for the club, including with important brands such as Vodacom, which has a deal of more than 15 years with the club.
Others include Adidas, Carling Black Label, USN, Electronic Arts Sports, Aquelle, Ford, Caltex, Roman’s Pizza, and a few others. All these deals have been significant in maintaining the club’s fortunes and that of Khoza by extension.
The Net Worth Of Irvin Khoza In Comparison To That Of Other Club Owners In South Africa
As stated, Mr. Football, as he is known in some quarters, is in the elite class of club owners in the country and his net worth of over $10 million also means he is one of the richest. However, looking at his net worth against some other club owners, he may still be a long way away.
Johann Rupert (Stellenbosch FC)- $7.3 Billion Net Worth
Johann Rupert, the owner of Stellenbosch FC, has a net worth of over $7.3 billion, making him the richest club owner in the country and the country’s second-richest man. He made his fortune from his business endeavors. More so, he also has investments in cricket and golf.
Patrice Motsepe (Mamelodi Sundowns)- $3.1 Billion Net Worth
Patrice Motsepe is probably the most popular football club owner in South Africa because he has turned around Mamelodi Sundowns through his involvement in running the football club. Secondly, he is one of the richest men in South Africa and made his wealth mostly from the mining sector.
Kaizer Motaung (Kaizer Chiefs)- $7 Million net worth
After the two billionaire club owners, the next on the list is Irvin Khoza, followed by Kaizer Chiefs owner Kaizer Motaung, who has a net worth estimated at $7 million. What makes him very special is that he started the club all on his own from scratch, and he built it into what it is today. He made his fortune first as a football player and then as the owner of a football club.
Other Ways That He Makes His Money
While his involvement in football is the main source of his wealth, it is not the only way he has come about his massive fortune. More so, his name has not escaped some serious controversies, including one where he was linked to drugs in the past. The allegations began due to his close relationship with a known drug lord in the past, Vijay “Vicky” Goswami.
His name was mentioned concerning the disappearance of socialite Robert “Rocks” Dlamini, who was on his way to meet the Iron Duke on a deal worth R1.5 million. Khoza, who has faced many investigations, insisted the deal had nothing to do with drugs. Despite all the dust that has been raised, he has not been found wanting in any way.
He has some companies from which he makes money
The Buccaneers owner has made money from some of the companies he founded or has investments in. One of such companies is Boitshepo Investments, a company that has been in existence since Dec 1997; Irvin Khoza is listed as a director in the company.
Marble Gold 261 is another company that has been listed under the ace businessman and football administrator. The company was founded in 2005, and it is into the sale and distribution of farm produce and other agricultural products.
Global Foreign Exchange, Bophirimile Investment Holdings, and Nevisian Trading are some of the other companies he is involved in. That said, the money he makes from each is not known to the public.
Companies under him that have been deregistered
Apart from the aforementioned companies, The Iron Duke has also been involved in several companies that have now been deregistered. One of which is Nkosana Investment, founded in 1998 before it went out of business years later. Others are the non-profit company SA 2010 Bid Company, which was founded in 2003, and Ellis Park World of Sports, which lasted from 2006 to 2016 when it was deregistered.
His other companies, including Sethula Properties, Windybrows Properties, and Moneyline, among others, are said to be in the process of being deregistered. He is listed as a director in the companies, although there has been no much information available on the operations of the different companies.
He Has A Long List of Achievements and Milestones
As soon as he took over as the chairman of Orlando Pirates, Irvin Khoza made conscious efforts to change the club’s fortune, which turned out just well for him and the club. After three years of being in charge, he led the team to continental triumph in 1995 when they clinched the CAF Champions League title.
This was significant because he was able to almost instantly turn the club around and because it was the first time any South African club would achieve the feat. He was a man of 47 years old when he won the Champions League. He won the CAF Super Cup the following year.
Even before the continental glory, Khoza’s leadership was already changing things for the club at home. In 1994, under his watch, the team won the National Soccer League, which was the first time it was clinching the title. Under Irvin Khoza, the club won almost all trophies in the country and at the continental level. He won 4 Premier Soccer League titles and various Cup competitions.
Looking beyond the Buccs, Irvin has also contributed to the South African PSL by attracting some important sponsorships, including Absa Group Limited, the league’s current sponsor.
He Played A Significant Role In The 2010 FIFA World Cup
One of the major milestones that Irvin has achieved was his contribution to ensuring that the FIFA World Cup was held in the continent in 2010 and what was more was that South Africa hosted the tournament.
After joining the team to bid the hosting right of the world cup for the country as the bidding committee chairman with former provincial premier Tokyo Sexwale, he later became the country’s 2010 FIFA World Cup Organising Committee Chairman. In 2004, when he led the country to bid for the FIFA World Cup successfully, Irvin Khoza was 56 years old, and he was 62 years old when the tournament was finally held.
Due to his massive contribution before and during the tournament, the Iron Duke was given the gold National Order of Ikhamanga alongside other members of the 2010 FIFA World Cup Bid Committee. He also received the silver award as a sports administrator.
He Spends His Money On Cars, Houses, And Other Things Of Luxury
In the past, there have been rumors that the millionaire has bought himself a private jet. This came to light as far back as 2001 when SARS was investigating him. Although the value of the Lear jet was not revealed, it was claimed that he did not declare the acquisition of the jet. He was being investigated for a tax offense that was valued at R65 million.
Khoza has a long list of some amazing and expensive cars. One would find different brands and models of cars in his garage, including a Porsche Cayenne GTS, valued at over R1 million. Although this is his only car that is known publicly, it is also known that he has Ford and Peugeot cars in his garage.
He has numerous properties and chain stores in the country. Irvin has a house located at Diepkloof Extension, which was once raided by SARS in 2001 when he was being investigated for tax evasion. It was revealed that he had 5 properties in Johannesburg. The features of the properties and their worths have never been revealed.