Louis Tshakoane was recently detained at a funeral in connection with a fraud case. Therefore, people are curious about Louis Tshakoane’s net worth prior to his arrest.
Former PR representative for the Kaizer Chiefs, Louis Tshakoane, was detained at a funeral. Police were searching for Tshakoane, his wife, and his son in relation to crimes involving more than R30 million, including fraud, larceny, and money laundering. Tshakoane was believed to have fled the country with his wife and son in 2020. However, after speaking at Alex Shakoane’s funeral, the longstanding public relations officer for Mamelodi Sundowns was arrested.
Police also arrested a second suspect in Kempton Park, who will testify alongside Tshakoane, according to Gauteng Hawks. To learn how much Louis Tshakoane was worth prior to his arrest, proceed to the end of this article.
How much money does Louis Tshakoane earn?
As of 2023, the precise amount of Louis Tshakoane’s net worth is unknown. However, he is regarded as one of the most renowned wealthy children in South Africa. 30 years old and born into a wealthy household, he founded his first company as a teenager. He has always been engaged in business. His first endeavor was Botho Gym. Sir Richard Branson assisted him in establishing the Tembisa-based gym.
Sir Branson gave the aspiring entrepreneur exercise equipment valued at $200,000, as a gift. The decision was made after Louis presented Branson with a gymnasium business proposal. Branson was stunned by the suggestion and chose to assist him. Louis founded the gym to safeguard the youth of his community from criminal activity and substance abuse. As general manager of Avatar Agency, he supervised more than three hundred creative professionals.
Before joining UBS in South Africa, he worked for a number of other well-known companies, including Lamborghini, a seller of luxury automobiles. By working for large corporations, he was able to cultivate the networks necessary for his future endeavors. During his tenure at UBS, he gained familiarity with the financial sector, and his exposure to the industry inspired an interest in forex trading. Thus, we can conclude that Louis amassed a respectable net worth as a youthful businessperson.
Louis Tshakoane Why Was He Placed Behind Bars?
Tshakoane and his family were accused of more than R30 million in fraud, larceny, and money laundering. Tshakoane is said to have evaded the police and his son for some time. However, after Shakoane’s death more than a week ago, Tshakoane unexpectedly regained prominence. He appeared on virtually all television sports programs, newspapers, and radio broadcasts that paid tribute to the departed Mamelodi Sundowns executive.
Tshakoane was promptly taken into custody by officers of the South African Police Service and the tactical reaction team (amabherete) after delivering an emotional farewell address. When he returned to his seat, between five and eight police officers pounced on him and dragged him outside to a waiting police vehicle. After departing Amakhosi, Tshakoane joined the provincial Safa (South African Football Association) institutions and eventually became president of Safa Ekurhuleni. The 2016 Vuzu TV reality program Rich Kids raised initial concerns regarding the man’s source of wealth.
His company engages in Bitcoin transactions. Some have referred to him as a swindling artist and a fraud. He previously addressed these allegations. He asserted that his accusers were those who had invested in his bitcoin trade but were impatient with the business.
In late May 2018, the appropriate authorities issued an arrest warrant for the Tshakoane family. It became widely known that Louis Jr. Tshakoane was incarcerated. He allegedly denied these allegations on Facebook, claiming he was on vacation in Dubai and not in jail. His identity was used by an unconfirmed account to post the message.
Undercover Billionaire International Was Founded By Louis Tshakoane.
Louis discovered through his business dealings that millionaires and entrepreneurs lacked mutual trust. This realization led him to establish Undercover Millionaires International, his new company.
The new business venture intended to establish a network of business professionals who would communicate in order to consolidate their resources, expertise, and ideas. Giving back to the community and bettering the lives of others is a crucial aspect of Undercover Millionaires. The company provides a platform for young people to present their concepts and aids in the execution phase.
In May of 2019, he offered complimentary Forex seminars to students and opened trading accounts for each. Undercover Billionaires, an additional holding company he owns, supports youth.