Louis Tshakoane was recently detained at a funeral in connection with a fraud case. Hence, people are curious about Louis Tshakoane’s net worth before his arrest.
Former Kaizer Chiefs Public Relations Officer Louis Tshakoane was detained at the funeral. Police wanted Tshakoane, his wife and son in connection with crimes involving more than R30 million, including fraud, theft 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 long-time Mamelodi Sundowns public relations officer was arrested.
Police have also arrested a second suspect in Kempton Park, who will testify alongside Tshakoane, according to the Gauteng Hawks. To find out how much Louis Tshakoane was worth before his arrest, continue to the end of this article.
How much money does Louis Tshakoane make?
As of 2023, the exact amount of Louis Tshakoane net worth is not known. However, he is considered one of the most famous rich kids in South Africa. 30 years old and born into a wealthy family, he founded his first company as a teenager. He has always been involved in business. His first venture was Botho Gym. Sir Richard Branson helped him set up a gym in Tembisa.
Sir Branson gifted the aspiring entrepreneur with $200,000 worth of exercise equipment. The decision was made after Louis presented Branson with a business proposal for the gymnasium. Branson was amazed by the proposal and decided to help him. Louis founded the gym to protect the youth of his community from criminal activity and substance abuse. As general manager of the Avatar agency, he supervised more than three hundred creatives.
Louis Tshakoane
Before joining UBS in South Africa, he worked for a number of other well-known companies, including luxury car retailer Lamborghini. Working for large corporations, he was able to cultivate the networks necessary for his future endeavors. During his tenure at UBS, he became familiar with the financial sector and his exposure to the industry sparked an interest in forex trading. So we can conclude that Louis has amassed a respectable net worth as a young businessman.
Louis Tshakoane Why was he put behind bars?
Tshakoane and his family are accused of more than R30 million in fraud, theft and money laundering. Tshakoane reportedly avoided the police and his son for some time. However, after Shakoane’s death over a week ago, Tshakoane has unexpectedly regained prominence. He appeared on almost every television sports programme, newspaper and radio show that paid tribute to the late Mamelodi Sundowns manager.
Tshakoane was immediately taken into custody by South African Police Service and Tactical Response Team (amabherete) officers after giving an emotional farewell speech. When he returned to his seat, between five and eight officers pounced on him and dragged him outside to a waiting police vehicle. After leaving Amakhosi, Tshakoane joined the Safa (South African Football Association) provincial institutions and eventually became the president of Safa Ekurhuleni. The 2016 Vuzu TV reality show Rich Kids raised initial concerns about the man’s source of wealth.
His company deals with Bitcoin transactions. Some called him a con artist and a fraud. He previously addressed those accusations. He claimed that he was accused by those who had invested in his bitcoin trade but were impatient with the business.
At the end of May 2018, the competent authorities issued an arrest warrant for the Tshakoane family. It became widely known that Louis Jr. Tshakoane closed. He allegedly denied these allegations on Facebook, claiming that he was on vacation in Dubai and not in prison. His identity was used by an unverified account to post the message.
Louis Tshakoane
Undercover Billionaire International was founded by Louis Tshakoane.
Louis discovered through his business that millionaires and entrepreneurs do not trust each other. This realization led him to found Undercover Millionaires International, his new company.
The new business venture intended to establish a network of business professionals who would interact to consolidate their resources, expertise and ideas. Giving back to the community and improving the lives of others is a key aspect of Secret Millionaires. The company provides a platform for young people to present their concepts and aids in the implementation phase.
In May 2019, he offered free Forex seminars to students and opened trading accounts for them. Undercover Billionaires, an additional holding company he owns, supports youth.
Categories: Entertaintment
Source: HIS Education