Wendy Appelbaum is a prominent figure in South Africa, celebrated not only for her wealth but also for her profound impact across business and philanthropy. As the owner and chair of De Morgenzon Wine Estate in Stellenbosch, she has forged a unique path, blending sharp business acumen with an unwavering passion for giving back. Her story is one of grit, purpose, and a deep commitment to creating something meaningful.
Wendy Appelbaum: Born in business
Born and raised in Johannesburg, Wendy is the only daughter of South African tycoon Sir Donald Gordon and Peggy Gordon, the entrepreneurial founders of the Liberty Group. Growing up with two brothers, Richard and Graeme, she embraced a competitive household where games and sports—from Scrabble and tennis to bridge and golf—were a way of life. In an interview with Forbes Africa, Wendy credited these early experiences with teaching her negotiation skills and nurturing her competitive spirit, traits that later defined her as a top-tier entrepreneur.
Education and career
After earning a psychology degree from the University of the Witwatersrand, she joined her father at the Liberty Group, gaining invaluable exposure to the world of business. “It was almost like growing up in a business school,” she recalls. Despite the low expectations placed on women in the 1970s, Wendy was determined to chart her own course. “I’ve always worked, always stayed busy,” she says. Today, her estimated net worth of $170 million reflects decades of smart investments, bold decisions, and relentless drive.
In 1994, Wendy made her first major entrepreneurial move by co-founding Women’s Investment Portfolio Holdings (Wiphold). This South African, women-controlled investment company was groundbreaking, becoming the first of its kind to list on the Johannesburg Stock Exchange. Focused on empowering women, particularly those in underserved communities, Wiphold’s management team provided financial education and investment opportunities to women in townships and rural areas. “We showed women how to invest, how to turn a little into a lot,” Wendy says. Within four years, Wiphold transformed a modest $60,000 investment into a $120 million debt-free enterprise, cementing Wendy’s reputation as a trailblazer in business.
Farming
Her passion for farming and nature led her to purchase De Morgenzon in 2003 with her husband, Hylton Appelbaum. Situated in Stellenbosch, the estate spans 224 acres and is renowned for its focus on Chenin Blanc, a hallmark South African grape. De Morgenzon is not just a vineyard but a garden of wildflowers, where vines are serenaded by baroque and classical music—a tradition introduced in 2009. Wendy believes the structured rhythms of Mozart and Bach enhance the vines and the resulting wine. The estate now produces 750,000 bottles annually, with 75% exported to the US and UK. Under her leadership, De Morgenzon has twice been named one of the top 100 wineries in the world by Wine and Spirits magazine.
Philanthropy
Beyond her business ventures, Wendy is a committed philanthropist. Through the Wendy Appelbaum Foundation and The Donald Gordon Foundation, she has donated millions to causes focused on education, health, and women’s empowerment. Notable contributions include the establishment of the Gordon Institute of Business Science and the Donald Gordon Medical Centre. Wendy views philanthropy as a means of addressing root causes rather than providing temporary fixes. “Money alone doesn’t solve problems,” she asserts. “You need to tackle the root causes.”
Her philanthropic approach has earned her a place on 15 different boards and memberships in influential organizations like the Global Philanthropists Circle and the International Women’s Forum. Wendy’s work has also garnered numerous accolades, including being named one of the Leading Women Entrepreneurs in the World in 2006, recognition as Businesswoman of the Year by Forbes Woman in 2015, and inclusion in Forbes Africa’s 2020 list of the Most Powerful Women in Africa. In 2019, she received an honorary doctorate in medicine from the University of Witwatersrand for her contributions to health initiatives.
Wendy Appelbaum’s journey is a testament to the power of determination, vision, and a commitment to making a difference. From building transformative ventures like Wiphold to creating a world-class wine estate at De Morgenzon, Wendy has used her achievements to uplift others. Her philanthropic endeavors continue to drive meaningful change in education, health, and social justice, proving that true success is measured by the lives we impact.
