In life, we often find ourselves facing unexpected challenges and setbacks. It is during these moments that we discover our true strength and resilience.
Rael Levitt, a successful South African entrepreneur and UCLA-NUS Executive MBA (EMBA) graduate is someone who exemplifies a phoenix who has risen from the ashes. He has encountered his fair share of “tsunamis”, literally and metaphorically, but also triumphs throughout his life.
Inspired by his roller-coaster experience, he has penned a remarkable memoir entitled, “It Takes a Tsunami” where he shares invaluable life lessons he has learned along the way, hoping to bring comfort and encouragement to those in similar situations.
Rael Levitt with NUS MBA candidates during a recent visit to NUS Business School.
A Tempestuous Journey
Rael’s first encounter with a tsunami came in 2004 when a massive earthquake set off a series of tsunamis that charged across the Indian Ocean, hitting the coastal provinces Phang Nga and Phuket and claiming the lives of 227,000 people and causing widespread devastation. Rael was jogging on Patong Beach in Phuket when the towering waves came crashing towards him. It was a narrow escape for him when he made a dash for a nearby hill. Little did he know that the harrowing experience would serve as a harbinger of bigger challenges he would later face.
In 2011, as the founder and CEO of a leading auction firm Auction Alliance, Rael faced a media storm and found himself in a second tsunami. Accused by a billionaire client of using a ghost bidder to inflate bid prices for a wine estate, he found himself at the centre of a media maelstrom, where his character and resilience were put to the test. Even though he was never charged with any wrong doing and absolved by the South African authorities, the negative media led to Rael to close the company he had founded as a 21 year old and looking for new opportunities.
“I knew it was time for me to step away from the dance floor and seek a new path,” Rael recounts. During this dark period, he made a life-changing decision.
Rael decided to reinvent himself by going on a learning journey, which, by design, led him to the business school of NUS (our website). During this time, he reflected on his life and career paths while acquiring a fresh perspective on the business landscape.
With a renewed sense of purpose, Rael seized an opportunity in the logistics real estate industry and founded Inospace, an industrial and logistics park owner and operator , in 2017. Today, Inospace has a property portfolio worth over $220 million with over 50 logistics parks. Within three years, Inospace became the fastest growing privately owned property group in Southern Africa
Rael also became a founding shareholder of a new domestic airline carrier, LIFT in 2020. When the aviation industry was bleeding due to the COVID-19 pandemic, Rael and his fellow founders saw a silver lining instead – a business opportunity to launch LIFT. The airline currently has five planes and flies out of Johannesburg to Cape Town and Durban.
Lessons Learned from Failures
Having experienced the ups and downs of life, Rael emphasises the importance of possessing the ability to embrace challenges as opportunities for growth. “Failure is the greatest teacher,” he shares. “Despite the despair of a global pandemic, countless opportunities were waiting to be seized.”
Rael also candidly acknowledges his personal errors and regrets. For instance, contemplating on the media scandal that engulfed Auction Alliance, he admits that he should have handled the situation differently – be more open in handling the media instead of walking away from his company.
He should have also approached the disgruntled bidder at at the auction, which ended his career. “In hindsight, it could have just been resolved over coffee. Making an apology, taking ownership and fixing the problem goes a long way,” he concludes.
Drawing from his experience, Rael offers four key life lessons for entrepreneurs and business leaders:
- Constant Learning: Rael emphasises the importance of being “green and growing”—continually seeking knowledge and staying open to new ideas. Learning is a lifelong journey, and successful entrepreneurs and business leaders never stop pursuing knowledge.
- Innovative Thinking: Embracing creativity and thinking outside the box can lead to groundbreaking solutions.
- Persistence: Entrepreneurship has challenges, but perseverance is key. Rael’s story is a testament to the power of resilience and determination in adversity.
- Embracing Change: Rael’s journey is a reminder that change is inevitable, and successful entrepreneurs and business leaders adapt and embrace change rather than resisting it.
Let this powerful tale be a reminder that we can unleash our true strength and emerge stronger than ever in the face of adversity.
