Koos Bekker: The Visionary Who Turned Naspers Into a Trillion-Rand Tech Empire Without a Salary

Koos Bekker’s name is etched into South African business history — not just for his wealth, but for the bold moves that redefined what Naspers would become. Today, he stands as South Africa’s third-richest man, credited with transforming a traditional publishing company into a tech investment titan valued in the trillions of rands — and he did it without ever taking a salary.

Humble Beginnings and Early Education

Born in 1952 in Potchefstroom and raised on a mielie farm near the North West town, Bekker’s early life was grounded in hard work and ambition. He later moved to Heidelberg, Gauteng, where he excelled in school, matriculating with distinctions in Afrikaans, English, Maths, and Physical Sciences.

Bekker studied law at Stellenbosch University and the University of the Witwatersrand. But a stint as a state prosecutor soon revealed his true passion wasn’t in the courtroom. Instead, it was the business world that called — specifically, advertising and later, entrepreneurship.

The M-Net Revolution: South Africa’s Pay-TV Pioneer

Bekker’s global exposure during his MBA at Columbia Business School in New York would shape the first major chapter of his career. Inspired by the American HBO model, he proposed a premium pay-TV concept for South Africa. His MBA thesis became the blueprint for what would eventually launch as M-Net in 1986, with support from Naspers.

Just a year in, M-Net turned profitable. This marked the beginning of Bekker’s transformation of the media landscape. M-Net evolved into MultiChoice, and later DStv, bringing world-class television to millions across Africa.

Leading Naspers with Vision (and No Salary)

Appointed CEO of Naspers in 1997, Bekker made a highly unusual choice in 1999 — he declined a salary, bonus, or perks. Instead, he took stock options, tying his personal wealth directly to the company’s performance. It was a calculated risk that paid off handsomely — not just for him, but for Naspers shareholders.

The Tencent Gamble That Paid Off Big

In 2001, Bekker took what many considered a high-risk bet — acquiring a 46.5% stake in Chinese startup Tencent for just $32 million (R266 million). At the time, the Chinese internet space was still largely unproven.

But the gamble worked. Tencent broke even the same month Naspers invested. Two decades later, that stake was worth an eye-watering $100 billion (R1.83 trillion). It’s arguably the most lucrative tech investment in South African corporate history.

Legacy and Billionaire Status

By the time Bekker stepped down as CEO in 2014 to become chairman, Naspers had grown its market cap by over 3,600% under his leadership. In 2019, Naspers spun off MultiChoice — a nod to Bekker’s original media vision.

As of May 2025, Forbes pegs Bekker’s net worth at $3.4 billion (R53 billion), placing him just behind South Africa’s richest billionaires.

Koos Bekker’s journey is more than just a rags-to-riches story — it’s a masterclass in visionary leadership, calculated risk-taking, and long-term thinking. From a mielie farm in Potchefstroom to the boardrooms of global tech giants, Bekker has shown what’s possible when entrepreneurship meets purpose.

{Source: My Broad Band}

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