A luxury mansion owned by controversial South African billionaire Edwin Sodi, located in Johannesburg’s posh Morningside area, has been officially placed for sale.
The asking price for the expansive mega-mansion is R75 million ($4 million), representing a remarkable turn of events for the notorious South African tycoon, whose financial woes have made headlines in recent months.
The property, with a floor space of 4,000 square meters, includes five bedrooms and five bathrooms and is characterized as the ultimate of luxury in the heart of Morningside, Johannesburg’s green district.
Lynn Petzer of Lynn Estates listed the mansion, which had previously been the pride of Sobi, a struggling businessman. This move comes after the majority of Sodi’s assets, including cars, homes, and his firm, were auctioned off.
SARS recently handed Sodi a tax bill of about R400 million ($22.2 million). The final letter of demand from SARS gave Sodi 10 working days to answer.
Failure to agree on a payment plan or settle the full sum could result in SARS obtaining a court order from the High Court, making Sodi’s estate executable.
The flamboyant businessman, known for his opulent lifestyle and involvement in failed government tenders through his company Blackhead Consulting, faces asset seizure, including a R85 million ($4.5 million) mansion in Bryanston and a high-end fleet of cars worth millions.
Sodi’s current financial difficulties highlight the penalties for persons involved in tax arrears and legal ramifications, particularly those with a history of questionable business dealings.
In June 2023, Sodi was barred from doing business with the Tshwane Government after his company, Blackhead Consulting, was linked to the failed R290 million ($15.4 million) upgrading of the Tshwane wastewater treatment plant.
Blackhead was part of a joint venture with two other businesses, CMS and NJR, that won a tender in October 2019 to improve the Rooiwal treatment plant. The metro paid them R291,996,799 ($15.47 million) despite finishing only 60% of the first phase of the project.
