Wendy Appelbaum, one of South Africa’s most influential businesswomen and arguably its richest woman, knows that although wealth can be inherited, true impact is earned. As the daughter of Liberty Group founder Donald Gordon, she had a front-row seat to the business world from an early age. Yet, switching from the boardroom to vineyards took guts.
Although Appelbaum inherited her father’s sharp business acumen, societal expectations in the 1970s didn’t picture a woman climbing corporate ladders. However, she chose to do something different.
Before joining the wine industry, Appelbaum was a director at Liberty Group Investors, where she became one of the company’s largest individual shareholders. In 1994, she co-founded Women’s Investment Portfolio Holdings (Wiphold) with ten other women. This venture became the first women-controlled company to list on the Johannesburg Stock Exchange (JSE), with assets exceeding R1 billion. It empowered women from disadvantaged backgrounds to invest, build wealth, and rewrite their finances.
In 2003, Wendy Appelbaum sold her shares in Liberty Group, purchased DeMorgenzon Wine Estate in Stellenbosch with her husband, and fulfilled her lifelong dream of owning a farm. The land had been neglected, but she saw potential and grew it into its current international giant.
“I always wanted to farm. I always wanted to live in nature… This gave me the opportunity to do something that I would love.”- Wendy Appelbaum said in an interview.
Appelbaum’s luxury wine estate
DeMorgenzon Wine Estate is in Stellenbosch and encompasses 91 hectares of vineyards and 55 hectares of gardens and wildflowers. Unlike many commercial wineries focusing on mass production, DeMorgenzon distinguishes itself by its commitment to producing high-quality, terroir-driven wines, especially its Chenin Blanc and Syrah.
While most wineries focus on soil and climate, Appelbaum introduced an unusual practice: playing Baroque music in the vineyards. The music plays 24/7, with sound waves subtly influencing the vines’ growth. This unique practice has become the estate’s signature, setting it apart in the competitive market.
DeMorgenzon also supports sustainable farming. Wildflower cover crops help restore soil nutrients, reducing reliance on chemical fertilisers. They also use solar power and water conservation to reduce the effects of crippling electricity shortages.
With Wendy Appelbaum leading, the estate has become one of South Africa’s most awarded wineries. DeMorgenzon has successfully positioned itself as a luxury brand, competing with top-tier French and Italian wines. Its Reserve Chenin Blanc has earned the prestigious Platter’s Five-Star Wines rating, and the brand has also been recognised by Wine & Spirits magazine as a Top 100 Winery.
Appelbaum drives economic and social impact
The businesswoman’s impact transcends winemaking. Through the Wendy Appelbaum Foundation, she supports women’s education by funding scholarships in business and agriculture. The foundation also enhances medical access in underserved communities and offers entrepreneurship development programs to equip young South Africans with essential business skills. Recent reports reveal she has donated $23 million to educational and healthcare causes.
The businesswoman has also served on multiple corporate boards, including the Wits Donald Gordon Medical Centre, a post-graduate teaching hospital of the University of the Witwatersrand, and The Donald Gordon Foundation, Africa’s largest private charitable foundation. Additionally, she is a director of Sphere Holdings, a black empowerment company focused on financial services and mining, and WESGRO, the Western Cape’s tourism, trade, and investment agency.
Internationally, Appelbaum is a member of Harvard University’s Women’s Leadership Board and a member of the Harvard Global Advisory Council. She also sits on the board of Synergos Africa and is a member of the International Women’s Forum.
