Patrice Motsepe has a net worth of $2.3B, making him the third richest man in South Africa and the ninth richest person in Africa according to the 2023 Forbes list of world billionaires. Discover the captivating journey of Patrice Motsepe, South Africa’s pioneering entrepreneur and billionaire extraordinaire. Rising from humble beginnings in Ga-Rankuwa, he soared to become the nation’s first black billionaire, spearheading African Rainbow Minerals to global acclaim. As president of the Confederation of African Football and vice president of FIFA, he redefines leadership on and off the field. Dive into his diverse empire spanning mining, telecoms, and beyond, illuminating the power of resilience and vision. This exploration of all the companies Patrice Motsepe owns reveals a legacy built on resilience, innovation, and forward-thinking leadership.
All the companies South African billionaire Patrice Motsepe owns
- We currently have over 15 digital platforms in South Africa, Kenya, Zimbabwe, Botswana And Nigeria and we reach millions of monthly unique youth visitors every month.
- Patrice Motsepe’s life and career serve as a powerful testament to the enduring force of determination, innovation, and an unwavering commitment to positively impacting our world.
- Companies in which Motsepe owns a shareholding, through his African Rainbow holding companies, include many of South Africa’s biggest brands.
- African Rainbow Capital Pty Ltd. operates as a investment company, which focuses on financial services and private equity placements.
Precious Moloi Motsepe is the wife of Patrice Motsepe, a wealthy South African businessman. She is a doctor and a philanthropist who is also involved in https://www.investec.com/ the fashion industry. Precious started her career as a medical emergency practitioner, focusing on children’s and women’s health. Born on August 2, 1962, she attended the University of the Witwatersrand in Johannesburg. Beyond his business ventures, Motsepe is also known for his philanthropic efforts.
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His unwavering commitment to success and his dedication to making a difference exemplifies the epitome of leadership and philanthropy in the African business landscape. To appreciate the scale of the business empire Motsepe has built over the last 24 years, a breakdown of his investments is valuable. Commenting on these investments, Motsepe said he played football and rugby when he was in boarding school in the Eastern Cape. More deals followed, including a merger with Harmony Gold Mining to form the world’s fifth-largest gold producer. Five years after starting the company, Motsepe’s African Rainbow Minerals, which initially focussed on gold mining, was listed on the JSE. This business experience and exposure to the mining industry would serve him well in his future endeavours.
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A part of the company’s success was due to the worker remuneration system that consisted of a low base salary with a profit-sharing bonus. After leaving the law firm, Motsepe leveraged South Africa’s Black Economic Empowerment laws to build his mining enterprise. He also has a majority share in the Mamelodi Sundowns and owns over a third of Blue Bulls rugby. Since 2021, Motsepe has become a more familiar face to African football fans as the president of the Confederation of African Football. They have three children.27 He is the brother of Tshepo Motsepe and Bridgette Radebe, and the brother-in-law of both President Cyril Ramaphosa and Minister Jeff Radebe. In August 2024, ARC invested a further R160 million in Rain, bringing its shareholding in the network operator to 21%.
Patrice Motsepe — Net worth of R59 billion
Motsepe owns 12.1% of Harmony Gold, the 12th largest gold mining company in the world, with mining operations in South Africa, and Papua New Guinea. In recent years, Motsepe has expanded beyond mining, making major investments in telecoms, digital banking, and financial services through African Rainbow Capital sasol ltd (ARC) and Ubuntu-Botho Investments (UBI). Motsepe’s rise to prominence as a billionaire and his involvement in various industries have made him a symbol of Black economic empowerment (BEE) in South Africa. BEE policies aim to address historical inequalities by promoting the participation of black South Africans in the country’s economy. Motsepe’s success demonstrates the potential for black entrepreneurs to excel in various sectors, challenging traditional power structures and promoting inclusivity.
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After this success, in the year 2000, Motsepe partnered with Anglo Platinum, the world’s largest platinum producer. This partnership was a 50 – 50 ratio, and together, they created https://www.psg.co.za/ the largest platinum-producing mines in South Africa. Around 1997, gold prices plummeted heavily in the international market, this opened a window of opportunity and promted Motsepe to take a leap in the mining business with a full force.
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The Prudential Authority of the South African Reserve Bank (SARB), granted permission for TymeBank to operate exclusively online on 28 September 2017. Beyond his business ventures, Motsepe’s philanthropy through the Motsepe Foundation demonstrates his dedication to social development and community upliftment. His contributions to education, healthcare, and socio-economic empowerment reflect his desire to create equal opportunities for all South Africans. Motsepe’s involvement in Sanlam reflects his commitment to expanding access to financial services, promoting financial literacy, and driving financial inclusion in South Africa. His contributions to Sanlam’s strategic direction contribute to the growth and stability of https://www.liberty.co.za/ the financial services industry. Patrice learned about business from his father, who owned a popular shop for mine workers.