Rael Levitt
Rael Levitt | |
|---|---|
| Born | May 10, 1971 South Africa |
| Occupation(s) | Business figure, author, entrepreneur |
| Known for | Real estate auctions, last-mile logistics parks |
| Notable work | It Takes a Tsunami (2022) |
Rael Levitt (born 10 May 1971) is a prominent South African business figure, author, and entrepreneur. He earned dual master's degrees from both the UCLA Anderson School of Management and the National University of Singapore.
Career
Levitt has established several companies across real estate, investment, and technology sectors, playing a key role in advancing real estate auction practices and last-mile logistics park development within South Africa.
Early career
During his studies at the University of Cape Town, Levitt completed his first property sale in 1989. By August 1992, he conducted his inaugural auction for Absa Bank Ltd and founded Levco Auctions at age 21. Three years later, Levitt sold Levco Auctions to Seeff Holdings Ltd and assumed the CEO position of the combined entity, Seeff Auctions.
Auction Alliance
After Seeff Holdings Ltd was taken private in 1998, Levitt orchestrated a management buyout of Seeff Auctions, rebranding it as Auction Alliance where he served as CEO. In 2006, Amabubesi Investments acquired a 25.1% share in the company, followed by a 31% stake purchased by Transaction Capital in 2010. By 2011, Auction Alliance achieved revenues surpassing R300 million with sales exceeding R6 billion. Following a widely publicized auction dispute that same year, Levitt chose to voluntarily cease Auction Alliance operations.
Inospace
Levitt launched Inospace in 2017 as a proprietor and operator of last-mile logistics parks. Beginning with a single location in Epping, Cape Town, the firm expanded swiftly through strategic acquisitions and innovative asset management approaches. Under Levitt’s guidance, Inospace grew its portfolio to assets valued over R3 billion. A significant milestone was reached in 2022 with a R1.25 billion deal completed alongside Fortress REIT Ltd. By 2023, Inospace had broadened its offerings to include logistics services such as adaptable warehousing and fulfilment solutions tailored for e-commerce enterprises.
Lisa Proptech
In 2023, Dutch tech company Lisa BV acquired the principal leasing platform from Inospace, South Africa’s leading last-mile logistics operator. Levitt assumed the roles of South African CEO and non-executive Chairman for the Dutch entity, positioning Lisa as a transformative proptech force within the region.
Lift Airline
Levitt was among the founding investors of Lift Airline, which commenced operations on 10 December 2020. The airline operated key domestic routes from O. R. Tambo International Airport, Johannesburg, utilizing an Airbus A320 fleet managed by Global Aviation. In 2024, Levitt reduced his ownership stake but continues to serve as a non-executive director.
Book
It Takes a Tsunami (2022), published by Mercury.
Community positions
In 2010, Levitt was named Chairman of YAD. Additionally, he holds trustee responsibilities with the Rambam Trust and serves on the boards of Glendale Care Services and the United Jewish Campaign. He is also the founding trustee of the Red Circle Trust, which is dedicated to fostering entrepreneurial education development.