In the same year, Motsepe won two major awards, South Africa’s Business Leader of the Year, where he was voted by the chief executive officers of the top 100 companies in South Africa. And also, the winner of the Ernest & Young Best Entrepreneur of the Year Award. After 12 months of being in charge, Motsepe shocked the entire mining industry by making the mines profitable. 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. To make partner at a tender age of 32 wasn’t an easy feat, as Bowman Gilfillan has always been one of the most prestigious law firm in the country, so it probably took something out of the ordinary.
Through his diverse ventures in mining, finance, sports, and media, Motsepe’s impact on the continent’s economy agc investment is undeniable. Let’s dive into the remarkable story of Patrice Motsepe’s life, achievements, and the companies that have cemented his legacy. Patrice’s father was a school teacher, and a small businessman, who owned a spaza shop that provided essentials for mineworkers at a closeby platinum mine.
Marvin Ellison's wealth soars: Black executive's stake jumps $8.5 million
It offers life, funeral cover, disability cover, income protection, critical https://www.liberty.co.za/ illness insurance products, medical aid, gap cover insurance vehicle, house contents, building and all risk insurance products. The company was founded in 1918 and is headquartered in Bellville, 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.
ARM Coal
In just 3 years, he turned the ship around by paying off all the debts and made the necessary foundations to make African Rainbow Minerals to become one of the largest mining companies in the world. 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. 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. After matriculating, he proceeded to obtain a bachelor of arts degree at the University of Swaziland, which was subsequently followed by a law degree from the University of the Witwatersrand. Contrary to what most people believe, Motsepe wasn’t born rich, or had any wealthy relatives.
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- In just 3 years, he turned the ship around by paying off all the debts and made the necessary foundations to make African Rainbow Minerals to become one of the largest mining companies in the world.
- 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 Forbes, and TymeBank.
- As Africa’s richest black billionaire, Motsepe’s entrepreneurial spirit and strategic investments have catapulted him to immense success.
- Cementing his status as the richest Black billionaire in Southern Africa, Motsepe has become a trailblazer for fellow entrepreneurs across the continent.
- He also bought a 51% stake into Sundowns to partner with its founders.
African Rainbow Capital Pty Ltd. operates as a investment company, which focuses on financial services and private equity placements. Its portfolio includes life insurance, healthcare, money management, and banking. The company was founded by Patrice Tlhopane Motsepe, Johan van Zyl, and Johan van der Merwe on April 14, 2016 and is headquartered in Sandton, South Africa. It caters to construction, defense and aerospace, healthcare, food and beverage, private equity, mining, education, technology, and transportation industries. McGuireWoods was founded african gold capital investment in 1834 and is headquartered in Richmond, VA.
African Rainbow Minerals
After completing school, he completed a BA degree at the University of Swaziland and a law degree at the University of the Witwatersrand. Motsepe senior, a teacher by profession, owned businesses in the North West province popular among mine workers. 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 in Mamelodi. 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. Shortly after the ANC won the 1994 democratic elections, Nelson Mandela became President of the country and his government made favorable policies to support black businesses.
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. Motsepe is married to Dr. Precious Moloi, a physician and fashion entrepreneur. 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.
The sharp increase in his fortune is tied to Adebayo Ogunlesi’s investment portfolio, valued at over $1.8 billion. Prosus, which holds a diverse portfolio spanning fintech, social media, edtech, and food delivery, is doubling down on growth opportunities in the region. 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. In 2003, as part of The Giving Pledge, he formed the Motsepe Foundation, aiming to donate half his wealth during his lifetime. The share price showed strong growth, which made Motsepe one of https://www.easyequities.co.za/ South Africa’s richest people.
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.