Rank #1137
Patrice Motsepe
Net worth $3.8B
Mining · South Africa
- Born
- Jan 28, 1962
- Age
- 64
- Source
- Mining
- Residence
- Johannesburg
- Citizenship
- South Africa
- Marital status
- Married
- Children
- 3
- Education
Net worth over time
Biography
- Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 - the first black African on the Forbes list.
- In 2016, he launched a private equity firm, African Rainbow Capital, focused on investing in Africa.
- Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.
- In March 2021, Motsepe was elected president of the Confederation of African Football, the sport's governing body on the continent.
- In 1994, he became the first black partner at law firm Bowman Gilfillan in Johannesburg, and then started a mining services contracting business.
- In 1997, he bought low-producing gold mine shafts and later turned them profitable.
- In 2013, the mining magnate was the first African to sign Bill Gates' and Warren Buffett's Giving Pledge, promising to give at least half his fortune to charity.
- Motsepe benefited from South Africa's Black Economic Empowerment (BEE) laws, mandating that companies be at least 26% black-owned to get a government mining license.
Financial assets
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