Their dedication to positively impacting society was evident when they pledged R30 million ($2.04 million) sasol shares in April 2022 to aid flood victims in KwaZulu-Natal. With a remarkable 39.7-percent ownership stake in ARM, he has solidified his place as one of South Africa’s wealthiest businessmen and garnered recognition as one of Africa’s most prominent figures. Billionaires.Africa has identified and cataloged various companies and holdings linked to Motsepe. The images below show companies and sports franchises in which Motsepe has a stake.
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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. At the age of 61, Patrice Motsepe has achieved a lot of success in the business world. Based on his net worth, he is ranked as the third richest person in South Africa, the ninth richest https://www.absa.co.za/ person in Africa, and the 1,328 richest billionaires in the world according to the 2023 Forbes list. Patrice’s net worth has continued to grow because of his shares in Harmony Gold, which he owns through ARM. He is also the CEO of Harmony, a company that specializes in rejuvenating old mining sites.
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Patrice picked up business early from his father and quickly made good use of the learning opportunity he got. The contract also involved the cleaning of gold dust for inside mine shafts for the Vaal Reefs Gold mine. In addition to that, for the sustainability of the company and to retain employees, the company introduced a remuneration system that combined a low base salary with a profit-sharing bonus. It’s important to note that the Bishopscourt mansion is just one of the luxurious properties owned by Patrice Motsepe in South Africa.
In 2004, UBI brokered a BEE deal with Sanlam – an insurance and financial services company. Eventually, UBI acquired 18.5% of Sanlam but has an 18.1% voting stake in Sanlam as its BEE partner. Discover the captivating journey of Patrice Motsepe, South Africa’s pioneering entrepreneur and billionaire extraordinaire. Rising from humble https://deriv.com/ 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.
- Motsepe’s journey serves as an inspiration to aspiring entrepreneurs and a testament to the transformative power of passion, perseverance, and purpose.
- Eventually, UBI acquired 18.5% of Sanlam but has an 18.1% voting stake in Sanlam as its BEE partner.
- Rain offers data-only SIM cards and has become a disruptive force in South Africa which suffers from very high mobile data costs.
- Alexforbes on Monday said African Rainbow Capital Financial Services Investments now owns 45.6% of the group’s securities…
- Discussions are at an early stage and there is no guarantee that an agreement will be reached, said the people.
List of Patrice Motsepe Companies
The French company had pushback from MultiChoice on its earlier offer of R105/share. The lender started offering merchant cash advances in Vietnam in the second quarter and has signed its first commercial transactions in Indonesia where it recently incorporated, he added. Tyme is also looking at acquisition targets — and is willing to spend tens of millions of dollars — in order to gain an Indonesian banking licence, according to the chairman. Tyme is the latest fintech company to pass the $1-billion threshold that marks a unicorn, and highlights recovering investor interest in the sector, after a bumpy few years when interest rates jumped around the world.
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Like all ventures, it wasn’t easy at first because the gold markets kept on plummeting and at some point, Motsepe was forced to lay off some of his stuff to keep the mines afloat. Bobby handed the mining shafts to Motsepe, under terms which allowed him to repay the $8.2 million debt out of the future earnings of the company. Bobby knew of Motsepe during the time he was providing services with Future Mining, they got to know each other and during that time, he observed Motsepe burning desire to venture into the mining business. 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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Since 2021, Motsepe has become a more familiar face to African football fans as the president of the Confederation of African Football. The mines include, Khumani, Beeshoek, Nchwaning, Gloria, Cato Ridge, Cato Ridge Alloys, Sakura and Machadadorp. According to Motsepe, renaming the club to Mamelodi Sundowns was a nod to its heritage in Atteridgeville, Eersterus, Laudium, and the club’s home sasol ltd in Mamelodi. This new exposure caused Motsepe to start studying the mining business in every way he could. He read all kinds of books & articles, and studied anything he could find on mining, just so he could have a complete understanding, and the technical know-how of how the business operated. He studied their daily operations, which sprouted a zeal, and attraction in him for the business.
His journey to success began in 1997 when he founded African Rainbow Minerals, a groundbreaking Black-owned mining corporation based in South Africa. Patrice Motsepe, the visionary founder of African Rainbow Minerals (ARM), continues to leave an indelible mark on the African business landscape. Cementing his status as the richest Black billionaire in Southern Africa, Motsepe has become a trailblazer for fellow entrepreneurs across the continent. Patrice Motsepe is one of South Africa’s most successful businessmen with shareholdings in many of the country’s top companies, including Sanlam, Rain, Alexander https://www.easyequities.co.za/ Forbes, and TymeBank. Rain is a data-only mobile network in South Africa that has launched Africa’s first 5G network.
Dr Patrice Motsepe was a partner in one of the largest law firms in South Africa, Bowmans and was also a visiting attorney in the USA with the law firm, McGuireWoods. According to Forbes, he is one of the wealthiest people in South Africa and the continent, with an estimated net worth of $2.7 billion. Social media was abuzz with warm birthday wishes as Mamelodi Sundowns took to social media to celebrate the club owner’s birthday. This enterprise specializes in providing contract mining services for Vaal Reefs Gold Mine, encompassing tasks such as cleaning gold dust within mine shafts. Notably, Motsepe introduced an innovative worker remuneration system featuring a modest base salary coupled with a profit-sharing bonus. Patrice Motsepe is an individual who has pursued an extensive education, earning a law degree from the esteemed University of the Witwatersrand and a Bachelor of Arts degree from the renowned University of Swaziland.