Patrice Motsepe is one of the billionaire businessmen in Rands and Dollars. He has multi-million companies and is the President of the Confederation of African Football.
Some of his companies include Ubuntu-Botho Investments, African Rainbow Capital (ARC), African Rainbow Energy and Power (AREP), and UBI General Partner (Pty) Ltd.
Motsepe is the Deputy Chairman of Sanlam, Chairman of Harmony Gold, and President of Mamelodi Sundowns Football Club.
Patrice Motsepe became a billionaire in 2008 and is the first black African on the Forbes list. He is the founder and chairman of African Rainbow Minerals.
The businessman became the first black partner at law firm Bowman Gifillan in Johannesburg in 1994. He then began a mining services contracting business.
Who is Patrice Motsepe?
Patrice Motsepe was born on 28 January 1962 to Kgosi Augustine Motsepe, chief of the Mmakau branch of the Tswana people. His father owned a Spaza shop as a small businessman.
The shop helped Patrice to learn basic principles from his father. He gradually became exposed to mining.
The businessman founded African Rainbow Minerals. It is in gold, ferrous metals, base metals, and platinum. He is a member of many company boards and is the non-executive chairman of Harmony Gold.
Patrice was named South Africa’s richest man in 2012. He topped the Sunday Times’ annual Rich List with an estimated fortune of R20.07 billion.
After eight years, in 2020, Forbes ranked Motsepe as the 1,307th-wealthiest person in the world. He acquired the football club Mamelodi Sundowns in 2003. Forbes Magazine honored Dr Motsepe as one of the “100 Greatest Living Business Minds” in 2017.
Motsepe earned a Bachelor of Arts degree at the University of Swaziland. He holds a law degree from the University of the Witwatersrand, specializing in mining and business law.
What is the net worth of Patrice Motsepe?
Patrice Motsepe is the first black African on the Forbes list. He founded the African Rainbow Minerals and became in 2008. He launched African Rainbow Capital, which focused on investing in Africa in 2016.
The businessman has a stake in Sanlam and owns the Mamelodi Sundowns Football Club. He became the elected President of the Confederation of African Football in March 2021. Forbes ranked him ninth on their list of Africa’s Richest People in 2022.
Motsepe bought low-producing gold mine shafts in 1997. He made profitable through his financial acumen. He became the first black partner at law firm Bowman Gilfillan in Johannesburg in 1994. He then began a mining services contracting business. Patrice Motsepe has a net worth of R52 billion in 2023.
Patrice Motsepe Companies
Patrice Motsepe is the youngest billionaire in South Africa, while Nicky Oppenheimer is the oldest. The 61-year-old is the first black billionaire on the Forbes list. He is the Deputy Chairman of Sanlam and Chairman of Harmony Gold
Motsepe has a network of businesses across the mining, financial, and sports industries. He is the founder and Chairman of Ubuntu-Botho Investments, African Rainbow Capital (ARC), African Rainbow Energy and Power (AREP), and UBI General Partner (Pty) Ltd. He is the President of Mamelodi Sundowns Football Club.
Motsepe founded Future Mining in 1994. It which grew rapidly to become a successful contract mining company. He formed ARMgold in 1997, which listed on the JSE in 2002.
|61 years old
|Precious Moloi (m. 1989)
|Source of Wealth:
|Mining, Self Made
|Johannesburg, South Africa