Sad news reaching our news desk has it that South African business veteran, investor, philanthropist and founder of the Allan Gray Foundation is dead. Allan Gray Died at the of 81.

Reports have it that Gray died over the weekend while in Bermuda. The cause of death was revealed as a heart attack.

The company is yet to release an official statement about Allan Gray’s death.

Gray established the Allan Gray Foundation in 2007, an organisation aimed at supporting young entrepreneurs. Throughout the years, he donated the bulk of his wealth to charity.

The Allan Gray Foundation was established with a $130m (R1.9 billion) endowment, the largest single recorded donation to a South African charity.

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