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. Beyond his business ventures, Motsepe is also known for his philanthropic efforts. Through his diverse ventures in mining, finance, sports, and media, Motsepe’s impact on the continent’s economy is undeniable. Let’s dive into the remarkable story https://deriv.com/ of Patrice Motsepe’s life, achievements, and the companies that have cemented his legacy.
ARC Investments
While this venture may not be primarily profit-driven, it aligns with his broader interests and diversifies his investments. Patrice Motsepe is a renowned South African mining billionaire https://www.sanlam.co.za/ 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. The 62-year-old is best known as the founder and executive chairman of African Rainbow Minerals (ARM), which has interests in mines that extract gold, platinum, base metals, and ferrous metals.
Renewable energy investments
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. 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.
Philanthropy: The Motsepe Foundation
- He founded African Rainbow Minerals (ARM), a mining company that would become a cornerstone of his business empire.
- 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.
- It offers life, funeral cover, disability cover, income protection, critical illness insurance products, medical aid, gap cover insurance vehicle, house contents, building and all risk insurance products.
- The British company works towards a safe, just, and sustainable world enabled by responsibly produced minerals and metals.
- He began by focusing on the gold metal alone, but as the years went by, the company started expanding its interests to base metals, iron ore, manganese ore, alloys, platinum group metals, copper, nickel, and coal.
During his childhood, Kabelo lived with his family in Johannesburg, but his father owns other properties, including a lavish home in Cape https://www.coronation.com/ Town. 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.
Every business owned by SA’s billionaire trailblazer Patrice Motsepe
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. 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. Another major is sasol shares a good buy success in the ARC stable is TymeBank, which has seen explosive customer growth since launching in early 2019. It launched a fully-fledged mobile network in mid-2023, with 4G SIMs available exclusively in a bundle with its 5G packages called RainOne.
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. 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.
At the age of 46, in 2008, Motsepe made history as the first black African billionaire to grace the prestigious Forbes list, an extraordinary achievement fueled by his extensive investments in the mining industry. 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.