Edwin Sodi is a very influential South African businessman popularly referred to as a tenderpreneur due to his knack for using his political connections to secure government contracts for his personal advantage. While there have been varying reports about his net worth, the CEO of Blackhead Consulting Ltd is estimated to be worth around R200 million.
Edwin Sodi’s net worth is responsible for the flamboyant lifestyle he has. He is said to own several luxurious houses and cars which cost millions of Rands. He is also known for contributing to different causes, especially those that are political. Sodi makes donations running into millions to the African National Congress (ANC), the governing political party in South Africa since apartheid came to an end.
Edwin Sodi Has A Plethora of Businesses From Which He Earns His Money
Edwin Sodi has been described as a serial entrepreneur with stakes in several companies flung across South Africa. He is the CEO of Blackhead Consulting (Pty) Ltd. The company, which was established in 2004, is a consulting firm that provides professional services in project management and engineering. Blackhead Consulting is his major company through which he has been able to make the bulk of his wealth.
Sodi is also reported to be a director in more than 40 private companies with interests in construction, property, and office supplies among others. Considering his business acumen, this isn’t much of a surprise. According to reports about his several business endeavors, he owns a farm in Ruimsig, Pretoria which is worth around R6 million. Sodi is also said to own a company called Base Property Holdings (Pty) Ltd which has a mortgage bond value of R40.5 million. The property company holds 10 title deeds in Bryanston, Johannesburg.
Edwin Sodi has further been linked with several companies either as a director or benefactor. He is a savvy businessman with experience that cuts across several fields. All of the various investments and businesses are what had amalgamated to make Edwin Sodi’s net worth what it is today.
Edwin Sodi’s Net Worth Runs Into Millions of Rand
For someone who is involved in a plethora of things, it’s no surprise that Edwin Sodi is quite wealthy. Like most wealthy people, he prefers not to disclose his actual net worth but when the quality of life he leads and the number of assets he has have been put into consideration, one can only imagine how much money he is sitting on.
From the worth of his business, houses, and cars, Edwin Sodi’s net worth has been estimated to be around R200 Million. It is pertinent to point out that this is just an estimation and it is possible that he could be worth much more or less. Since he has chosen not to reveal his net worth, one can only estimate. Moreover, he is said to have a long-standing relationship with ABSA and has more than R96m in investments and also savings of over R25m with the bank.
Sodi’s net worth has afforded him the opportunity to own several luxurious houses and most especially cars which he appears to have a bias for. He is known to own several expensive and highly coveted vehicles which he isn’t shy to flaunt.
Edwin Sodi Owns Several Luxurious Cars and Houses
Edwin Sodi lives in a mansion that befits his opulent status. He owns a mansion in Bryanston which he acquired for R40 million in 2014. The property covers about 3,500 square meters and has 7 bedrooms, a cocktail bar, a wine cellar, gourmet kitchen, games room, a twelve-seater cinema, swimming pools, staff suits, and a garage space for 14 cars amongst other things. Sodi put this up for sale in 2020 with an asking price of R85 million or R650,000 per month.
He also owns several undisclosed properties, including one in Aanwins AH, Johannesburg which is valued at R1 million. Asides from his personal houses, his company – Blackhead Consulting – owns two separate properties valued at R1.2 million each in Aanwins AH and Fourways Gardens, Johannesburg.
Edwin Sodi’s wealth has also been invested in various cars over a period of time. Some of the cars he uses personally and some were bought with the name of his company. According to reports, 4 of these vehicles are registered in his name and are valued at over R10 million. They include the following:
a 2019 black Porsche Cayenne S Coupe valued at R1.9ma black 2002 Mercedes Benz C32 AMG worth R1000000a white 2017 Rolls Royce Ghost Family Dawn worth R5.3ma blue 2017 Bentley Continental Super Sports convertible valued at R2.8m.
List of His Other Cars and Their Worth:
Red 2017 Ferrari Four F151 worth R3millionSilver 2004 Toyota Tazz valued at R55, 000White 2011 Volkswagen VW250 Polo with a value of R75, 000White 2013 Chevrolet Utility 1.4 worth R70, 000White 2014 Volkswagen Polo Vivo valued at R67, 000Silver 2014 Volkswagen Polo with a worth of R67, 000Black 2014 Volkswagen Polo Vivo worth R67, 000White 2017 Hino 500 Chassis Cab with a value of R350, 000White 2012 Nissan NP200 valued at R65, 000White 2012 Nissan NP200 worth R65, 000,Grey 2013 Porsche worth R650, 000Silver 2014 Hyundai I20 valued at R63, 000Mercedes Benz G63 AMG, 2013 valued at R1.2mWhite 2014 Ford Ranger valued at R129, 000White 2014 Ford Ranger valued at R129, 000White 2014 Ford Ranger valued at R129, 000Grey 2016 Ford Ranger valued at R300, 000Grey 2016 Ford Ranger valued at R300, 000Silver 2016 Ford Ranger valued at R300, 000Grey 2016 Ford Fiesta valued at R160, 000Grey 2016 Ford Ranger valued at R300 000
This list is not exhaustive in any way as Sodi is said to own 34 luxurious cars. Some of these cars are registered under his personal name while the rest are registered with his company’s name.
Is Edwin Sodi a Card-carrying Member of the ANC?
Edwin Sodi is a tenderpreneur with deep links in the government sector. He has been awarded several government contracts and is known to make generous donations to particular members of the governing party and the party in general. His donations have raised several eyebrows and have been flagged a couple of times.
In his defense, Sodi has described himself as a supporter of the ANC, even though he is not a card-carrying member of the governing party. He has also explained that he grew up in the ANC and it shouldn’t be deemed strange if he chooses to donate and support the party as it isn’t a crime to support a political party of choice. For donations made to individuals, he has reiterated that those people are his friends whom he chose to help in a personal capacity not because they are government officials.
Despite all that he has said, many still believe Sodi is greasing the palms of these government officials which is how and why he continues to secure projects worth millions. Moreover, his company is said to get most of its business from the departments of human settlements in Gauteng and the Free State.
Edwin Sodi’s Troubles With The Law
Even though he has been presumed to give back to society and has been instrumental in the development of several rural communities, Sodi has always been suspected of being involved in some unscrupulous activities due to the enormity of his wealth.
Towards the end of 2020, Edwin Sodi alongside 6 other people were indicted in an asbestos audit deal. The 7 people who were accused include Sodi (businessman), Nthimotse Mokhesi (Former HOD, human settlements department), Matawana Mlamleli (former Mangaung mayor, former human settlements MEC), Kgotso Abel Manyike (businessman), Mahlomola John Matlakala (supply chain director), Sello Joseph Radebe (businessman) and Thabane Wiseman Zulu (Former director-general, human settlements department). Their bail was granted at an amount ranging between R50,000 to R500,000.
From the investigation conducted and information gathered by an Asset Forfeiture Unit (AFU) special investigator by the name of Nkosiphendule Mradla, these 7 accused people, alongside 5 companies, conspired to defraud the State of millions through the controversial Free State asbestos project. From what was said by the National Prosecuting Authority (NPA)’s AFU, the contract should never have been awarded to Blackhead Consulting and Diamond Hill Trading in a joint venture because they were never at any point a contracted party of the Gauteng Department of Human Settlements. Moreover, the request was supposed to be specific, meaning Blackhead Consulting had to be appointed to and there was no competitive procurement process.
The Free State DHS, then led by Mokhesi, proceeded to appoint Blackhead Consulting and Diamond Hill in a joint venture on the 1st of October 2014 to carry out the asbestos project in the Free State Province. By this time, the Gauteng DHS contract had already ended in August 2014 which makes the whole process illegal.
Another accusation which the AFU laid at their feet is that their company, alongside Mastertrade which they subcontracted the work to at a cost of R44 million, did not have the competencies required for the asbestos projects, as regulated by the law. Ironically, Mastertrade also subcontracted the work required by the Free State government to Ori Group for R21 million. The Ori Group, which was only paid R6.3 million by Mastertrade never completed the work.
The conclusion of the AFU was that the defendants manipulated the procurement process through intentional misrepresentation, claiming that a legal procurement process was followed which then led to a huge financial loss for the DHS and the State. After Sodi and the other six were arraigned and charged with fleecing the Free State government, the Asset Forfeiture Unit went ahead to seize several of Sodi’s personal property after they received a court order to attach assets and cash totaling R300 million. It should be noted that the R300m amount here includes the interest that would have been incurred had the money remained with the state.
The arraignment of Sodi and the other 6 people has been well followed by the public. This might be due to the social and economic status of the involved people. Within all the brouhaha, Sodi has chosen to keep his nose clean by not speaking to the press about this accusation but continues to show up in court to defend himself as he appears to be the one who was hit the most of all the accused. From what has been said by people close to him, the businessman maintains that he is innocent but will allow the law to take its lawful course.
The Assets Edwin Sodi Lost Due to His Legal Troubles
Following court orders to attach assets worth R300m between Sodi and his co-accused, the following items owned by Edwin Sodi were seized.
a 2017 white Bentley Continental GT Coupe with a value estimated between R3m and R5ma white 2017 Rolls Royce Ghost Family Dawn worth R5.3ma 2019 black Porsche Cayenne S Coupe valued at a little below R2m.a 2002 Mercedes Benz C32 AMG worth R100, 000
25 Cars Belonging to Sodi’s Company Were Also Seized. They include:
red 2017 Ferrari Four F151 worth R3millionwhite 2011 Volkswagen VW250 Polo valued at R75 000silver 2004 Toyota Tazz valued at R55 000white 2013 Chevrolet Utility 1.4 valued at R70 000,white 2014 Volkswagen Polo Vivo valued at R67 000silver 2014 Volkswagen Polo valued at R67 000black 2014 Volkswagen Polo Vivo worth R67 000white 2017 Hino 500 Chassis Cab worth R350 000white 2012 Nissan NP200 worth R65 000white 2012 Nissan NP200 valued at R65 000Grey 2013 Porsche worth R650 000Silver 2014 Hyundai I20 with a value of R63 0002013 Mercedes Benz G63 AMG valued at R1.2mWhite 2014 Ford Ranger with a value of R129 000White 2014 Ford Ranger valued at R129 000White 2014 Ford Ranger valued at R129 000Grey 2016 Ford Ranger with a value of R300 000Grey 2016 Ford Ranger valued at R300 000Silver 2016 Ford Ranger worth R300 000Grey 2016 Ford Fiesta valued at R160 000Grey 2016 Ford Ranger with a value of R300 000
Several properties were also seized alongside the vehicles, including a house in Johannesburg. His other vehicles which were seized are two silver 2016 Ford Ranger valued at R300 000 each, a 2017 Mercedes Benz A217 S65 AMG valued at R1.5m, and a white 2017 Bentley Continental GT Coupe worth R2.8m.
Several assets and cars of the other six members were also seized but the bulk of what was seized belonged to Sodi and his company. The cars will form a part of the assets worth millions of rand that the state is attaching in the case of corruption against them. Other household goods, cash, and realizable property were also seized. These properties of the accused would then be kept in the possession of the state until the end of court proceedings. The outcome of the court proceedings would then determine if the state would apply for a permanent order for the properties to be sold so that they can realize the lost money or they would be returned to their owners.