The indefatigable Brian Joffe, who recently turned 70 years of age, has invested his considerable business acumen in a start-up called Long4Life. This reminds me of Bidvest back in 1988, Brian’s first start-up when he was barely in to his 40s. Long4Life has gone from zero a few months ago to a market capitalisation of over R2 billion and when the Holdsport deal closes shortly we’ll be looking at R5 billion. This is a good time to take advantage of excellent value for future capital appreciation.
Long4Life has reported a maiden interim result for the six months ended 30 September 2017. The financials are a sideshow, essentially reflecting interest income on the R2 billion in cash raised from institutional investors ahead of listing on the JSE on 7 April 2017. Joffe participated to the extent of 6% with his own money.
But considerable activity has already occurred, and we’ll see that better reflected in the full year result. The year end will now be February. But expect this new business to continue changing shape as it is a work in progress. The intention is to invest in leisure and lifestyle assets and seek out entrepreneurial opportunities