|Full Name||Patrice Tlhopane Motsepe|
|Net Worth||$2.3 Billion|
|Date of Birth||January 28, 1962|
|Age||61 years old|
|Place of Birth||Soweto|
|Children||Three (3) (Thlopie, Kabelo, Kgosi)|
Patrice Motsepe is a renowned South African mining billionaire businessman who has significantly impacted the business and sports worlds. 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.
Born in South Africa in 1962, Motsepe began his foray into business by establishing African Rainbow Minerals (ARM). The mining company grew exponentially under his leadership and became a major player in the precious metals, coal, base metals, and platinum sectors.
In this blog post, we will delve deeper into Patrice Motsepe’s life, exploring his entrepreneurial journey, family, properties, foundation, and net worth. Join us as we take a closer look at the remarkable story of a man who has achieved greatness in different aspects of life.
Patrice Motsepe’s Net Worth
Patrice Motsepe has a net worth of approximately $2.3 billion. He is the chairman of the multinational company Motsepe Group, which has interests in various sectors such as mining, sports, automotive, and technology. He has been a driving force behind the growth and expansion of the company, which has a market capitalization of over $1 billion.
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.
In addition, Patrice holds essential positions in other companies, including being the Deputy Chairman of Sanlam, a leading financial services group, and the President of Business Unity South Africa (BUSA), an organization representing businesses in the country. Patrice was a lawyer before entering the mining industry, having studied law in college.
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 person in Africa, and the 1,328 richest billionaires in the world according to the 2023 Forbes list.
Motsepe’s net worth has grown significantly over the years due to his successful business acumen and investments in various sectors; his net worth has recently increased by $37 million. He is also known for his philanthropic endeavours, having established the Patrice Motsepe Foundation, which focuses on education, healthcare, and community development in South Africa.
List of Patrice Motsepe Companies
Patrice Motsepe is associated with several companies and organizations, primarily through his business interests and investments. Here is a list of some of the notable companies and entities that Patrice Motsepe has been involved with:
- African Rainbow Minerals (ARM): Motsepe founded this mining empire in 1997 and currently serves as its executive chairman. ARM was listed on the Johannesburg Stock Exchange in 2002 and has made significant acquisitions and mergers to strengthen its position in the mining sector.
- Future Mining: In 1994, Motsepe established Future Mining, a company specializing in revitalizing unproductive mining shafts. This venture set the foundation for his success in the mining industry.
- Ubuntu-Botho Investments (UBI): Patrice Motsepe co-founded Ubuntu-Botho Investments, a South African investment company that recently acquired a significant stake in Sanlam as a black empowerment partner in 2004. This strategic partnership created substantial value, making him a key player in Black Economic Empowerment (BEE) deals.
- African Rainbow Capital (ARC): Motsepe launched ARC in 2016, an investment holding company with interests in various businesses. ARC has stakes in companies such as Rain (a telecommunications provider) and Tyme Bank (a digital banking platform).
- Mamelodi Sundowns F.C.: Motsepe acquired ownership of this football club, which is one of the most successful teams in South Africa, showcasing his interest in sports.
- Blue Bulls Company: Motsepe has a share in this South African rugby union team, further expanding his sports investments.
- TymeBank: Patrice Motsepe has invested in TymeBank, a South African digital bank that provides accessible banking services to customers.
- Business Unity South Africa (BUSA): Patrice Motsepe has been involved in various business organizations and advocacy groups. He served as the President of BUSA, an influential business association in South Africa.
Additionally, he currently holds the position of President of the Confederation of African Football (CAF).
Patrice Motsepe Foundation
Beyond his business ventures, Motsepe is also known for his philanthropic efforts. He has his foundation called the Patrice Motsepe Foundation.
The Patrice Motsepe Foundation, established in 1999 by Patrice Motsepe and his wife, Precious Motsepe, uses the African philosophy of ‘ubuntu’ – the belief in giving and caring for one’s neighbour and community members. This foundation serves as proof of the selflessness and compassion deeply ingrained in the age-old African culture.
The Motsepe Foundation is actively making a difference through various outreach programs:
- Annual Christmas with Our People: Sharing the joy of the holiday season with underprivileged families across the country.
- Christmas Toy Distribution: Providing toys to bring holiday cheer to children in need.
- Sponsoring Beneficiaries: Supporting schools, churches, and communities, benefiting not only these institutions but also their surrounding areas.
- National Day of Prayer: Organizing events that bring together South Africans from various backgrounds for prayer and reflection.
The Motsepe Foundation actively engages in several impactful programs and initiatives:
1. Gender Equality, Wellness, and Leadership (GEWAL): This program focuses on youth, women, and other vulnerable groups across Africa. It engages in discussions and actions related to contentious topics in society.
2. Community Development: Recognizing that progress must happen at the community level, the foundation collaborates with schools and churches in communities, assisting in various ways.
3. Bursary Programme: With a targeted focus on youth and vulnerable groups, this program complements the foundation’s efforts to empower individuals through education.
4. Sports, Music, and the Arts: The foundation believes that success cannot be economically measured. It is committed to promoting sports and the arts in all communities.
Motsepe Foundation Contact Details
Address: 19 Impala Rd, Chislehurston, Sandton, 2196
Telephone: +27 (0) 11 324 1500
Email: [email protected]
How Patrice Motsepe Makes His Money
Patrice Motsepe, South Africa’s first black dollar billionaire, makes money through various business ventures and investments in different sectors. Some of the critical areas where he generates revenue include:
1. Mining Magnate:
Patrice Motsepe’s initial foray into wealth accumulation began with the mining industry. In 1994, he founded African Rainbow Minerals (ARM), a mining company interested in various resources, including platinum, gold, and coal. His astute management and strategic investments in the mining sector were pivotal in amassing significant wealth. ARM’s success contributed significantly to Motsepe’s status as one of the richest individuals in South Africa.
2. Investment Holdings:
Motsepe expanded his financial empire beyond mining by venturing into diverse investment holdings. He has invested in various industries through African Rainbow Capital (ARC), including financial services, telecommunications, and energy. ARC’s investments span numerous sectors, diversifying Motsepe’s income streams and reducing risk.
3. Philanthropic Initiatives:
While not a direct source of income, Motsepe’s philanthropic endeavours have played a substantial role in his legacy and influence. The Motsepe Foundation, established by Patrice and his wife, Dr. Precious Moloi-Motsepe, is a prominent philanthropic organization in Africa. Although it primarily focuses on charitable work, these activities contribute to Motsepe’s reputation and influence in business and political circles.
4. Board Memberships and Directorships:
Patrice Motsepe serves on the boards of several companies and holds directorships in various organizations. These positions provide additional income and opportunities for networking and influencing business decisions in different sectors.
5. Real Estate Investments:
Like many wealthy individuals, Motsepe has invested in real estate. Owning and developing properties can be a lucrative source of income, and it complements his investment portfolio.
6. Sports Ownership:
Motsepe has also made significant investments in the sports industry. He owns Mamelodi Sundowns Football Club, one of the top soccer clubs in South Africa. While this venture may not be primarily profit-driven, it aligns with his broader interests and diversifies his investments.
In summary, Patrice Motsepe’s wealth results from a multifaceted approach to business and finance. From his mining ventures and strategic investments to his philanthropic efforts and diversified business portfolio, Motsepe has demonstrated the ability to leverage opportunities and make informed decisions across various sectors.
Patrice Motsepe Salary
Patrice Motsepe’s annual salary amounts to ₦304,172,082,073.00, while he earns ₦25,347,673,506.08 every month. His weekly income stands at ₦5,849,463,116.79, and on a daily basis, he makes around ₦1,169,892,623.36.
Patrice Motsepe was born on January 18, 1962, in Soweto, South Africa. His father was the chief of the Mmakau Branch of the Tswana people. Patrice learned about business from his father, who owned a popular shop for mine workers. He attended a Catholic boarding school and later earned bachelor’s and law degrees from universities in Swaziland and Johannesburg.
In 1988, Patrice joined a law firm in Johannesburg and became its first black partner in 1993. However, he switched careers in 1994 and started working in the mining industry. In 1997, he founded his own company called African Rainbow Minerals.
Patrice also became the owner of a South African soccer team called the Mamelodi Sundowns in 2003. He was recognized as South Africa’s best entrepreneur in 2002 and was often listed among the world’s richest people in the early 21st century.
Patrice Motsepe Family
Patrice Motsepe was born in Soweto and learned business basics from his father. His mother’s generosity inspired his own charitable work. He has two siblings, Bridgette Radebe, South Africa’s first black female mining entrepreneur, and Dr. Tshepo Motsepe-Ramaphosa, a renowned medical doctor married to Cyril Ramaphosa, the President of South Africa.
Patrice Motsepe Wife
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 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.
One of the notable things about Precious is that she is the founder of African Fashion International, an organization that promotes the fashion industry in Africa.
Patrice Motsepe Children
Patrice Motsepe has three children with his wife, Dr. Mrs. Precious Moloi-Motsepe. Patrice Motsepe has no daughter; the three children are all sons. Here is the information we have gathered about them:
Their first child, Thlopane Butana Chane Motsepe, also known as Thlopie, was born between the late 1980s and early 1990s. Unfortunately, not much information about Thlopie’s academic records or the institutions he attended is available. However, it is believed that he received an Audi car gift from his father when he was in his twenties, as claimed by a Twitter user named Boikanyo Kabelo. Thlopie keeps a low profile online and has a private Instagram account. He is not active on Twitter.
Thlopie Motsepe is following in his father’s footsteps in the business world. Patrice Motsepe is involved in the African sports industry and owns the soccer club Mamelodi Sundowns. Thlopie has become part of the club’s management structure and is set to replace his father as the club’s President when Patrice Motsepe is elected President of the Confederation of African Football (CAF). Following his father’s example, Thlopie is contributing to South Africa’s development in various sectors, including sports and business.
The second child of Patrice Motsepe and Dr. Mrs. Precious Moloi-Motsepe is Kgosi Motsepe. Only a little information about Kgosi’s life is available, including his date of birth and academic qualifications. He was named after his grandfather, Kgosi Augustine Motsepe, and “Kgosi” is a Setswana word meaning chief or king. Like his older brother Thlopie, nothing has been disclosed about Kgosi’s chosen career path, so it is unclear if he is following in his father’s footsteps or not.
The youngest of the Motsepe siblings is Kabelo Motsepe. Very little is known about Kabelo, including his education, date of birth, and career path. He has no presence on social media. However, he was recently seen in a viral video with his brothers and mother, congratulating their father on his election as the CAF president. During his childhood, Kabelo lived with his family in Johannesburg, but his father owns other properties, including a lavish home in Cape Town.
Patrice Motsepe House
In 2014, Patrice Motsepe made news for spending R69 million on a luxurious mansion in Cape Town’s Bishopscourt suburb. This mansion is known for its luxury and extravagance, and many people have been curious to see it because Cape Town is a beautiful and peaceful city that attracts wealthy and famous individuals.
Here are some key features of Patrice Motsepe’s R69 million Bishopscourt mansion:
- Residential Wing
- Staff Wing
- Six Luxurious Bedrooms
- Grand Dining Area
- Music Room.
- Cinema Room
- Wine Cellar
- Indoor Gym
- Swimming Pools
- Tennis Court
- Billiard Room
- 10-Bay Garage
It’s important to note that the Bishopscourt mansion is just one of the luxurious properties owned by Patrice Motsepe in South Africa. In 2016, he acquired a 20 per cent stake in Val de Vie Investments, which expanded his real estate holdings. He also owns an estate called Val de Vie Evergreen, known for its equestrian farm, golf courses, restaurants, wineries, and wellness centres. This acquisition included the entire phase of Pearl Valley and the hotel site, further establishing Motsepe as a prominent property investor.
Patrice Motsepe Car
Patrice Motsepe, a successful businessman, has an incredible collection of luxury cars and even his own private jet. Let’s take a look at some of the cars he owns:
- Bentley Continental G.T.: This Bentley model is worth around R4 million
- Mercedes-Benz S65 AMG: It is worth approximately R3.2 million
- 2007 BMW 750 Li: Valued at about R1.5 million
- BMW 760 Li: Another high-end luxury sedan, the BMW 760 Li, is worth about R4 million.
Patrice Motsepe Private Jet
In addition to his impressive car collection, Patrice Motsepe also owns a private jet. He chose the Hawker 4000 business jet, a top-of-the-line aircraft popular for its comfort, efficiency, and prestige. Having a private jet signifies Patrice Motsepe’s luxurious lifestyle and prominent position in the business world.
Interestingly, there were reports of Patrice Motsepe sharing his private jet with the famous rapper 50 Cent.
Patrice Motsepe Latest News
Patrice Motsepe made headlines again with his latest venture. Independent power producer Sola Group, partly owned by Motsepe’s African Rainbow Energy, has finalized finance agreements with banks and partners to build a R2.5bn solar facility in the North West region.
This solar facility, with a maximum potential output of 132MWp, will play a crucial role in supplying energy to African Rainbow Minerals’ platinum mining operations. The project aims to deliver sustainable energy to support these mining operations through a long-term power purchase agreement and utilising the national grid.
Aside from his business endeavours, Patrice Motsepe has also expressed his condolences on behalf of the Confederation of African Football (CAF) on September 3 2023, for the passing of former Mali international and national team player Salif Keita. Keita was a legendary figure in African football, being the first African player to receive the CAF Award for African Player of the Year in 1970. Additionally, he was part of the National Team of Mali that finished second in the CAF Africa Cup of Nations in 1972.
In past news, Patrice Motsepe found himself at the centre of attention during a World Economic Forum dinner in Davos in January 2020. He publicly conveyed his admiration for U.S. President Donald Trump, stating that “Africa loves him.” However, these remarks drew widespread criticism throughout the African continent. Motsepe promptly apologized, clarifying that he only spoke for himself and not on behalf of others.
In September 2023, TymeBank partnered with Patrice Motsepe to expand its affordable healthcare offering to include third-party beneficiaries such as domestic workers.
Through this new initiative, domestic workers and other third parties can access primary healthcare coverage starting at just R139 per month. This low monthly fee will grant them access to services from a network of over 12,000 doctors, pharmacists, and other healthcare providers.
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. His remarkable journey, starting from humble beginnings and leading to his status as one of South Africa’s wealthiest individuals, embodies the resilience and entrepreneurial spirit that inspires countless others.
However, it’s not just his business success that defines him. Patrice Motsepe’s role as a philanthropist underscores his deep-seated sense of social responsibility and a profound connection to the principles of ubuntu. Through the Patrice Motsepe Foundation, he actively translates these ideals into action, touching lives, revitalizing communities, and nurturing a brighter tomorrow for all.