Birthday: January 28, 1962
Age: 59 Years, 59 Year Old Males
Sun Sign: Aquarius
Also Known As: Patrice Tlhopane Motsepe
Born Country: South Africa
Born in: Ga-Rankuwa, South Africa
Famous as: Businessperson
Black Business People
South African Men
Spouse/Ex-: Precious Moloi-Motsepe
father: Augustine Motsepe
mother: Key Motsepe
siblings: Bridgette Radebe, Tshepo Motsepe
children: Kabelo Motsepe, Kgosi Motsepe, Thlopie Motsepe
Founder/Co-Founder: African Rainbow Minerals
education: University of the Witwatersrand, Johannesburg, Tsogo High School, University of Eswatini, St Mark's School
Who is Patrice Motsepe?
Patrice Motsepe is a South African mining businessman. He is the founder of African Rainbow Minerals and serves as its executive chairman. The company has interests in a wide range of mines, including gold, base metals, ferrous metals and platinum. He is on the boards of several companies, including being the non-executive chairman of the world’s twelfth-largest gold mining company, Harmony Gold. He is also the deputy chairman of Sanlam. He was named the richest man in South Africa in 2012, and he topped the annual Rich List of the Sunday Times, with his estimated fortune of over 20 billion rands, which is approximately 1 billion USD. He won South Africa’s Best Entrepreneur Award in 2002. He was the 503rd richest person in the world, according to Forbes ‘Rich List 2018’. As of 2019, he was ranked as the 962nd wealthiest person in the world as well as the third wealthiest South African. He is also the owner of Mamelodi Sundowns, a football club. In 2013, he became a part of ‘The Giving Pledge’, where he committed to give away half of his entire wealth to charity.
Though he grew up during the apartheid era, Patrice Motsepe has managed to become very successful, a fate not shared by the majority of the colored population in South Africa. He joined a law firm named Bowman Gilfillan the same year Nelson Mandela became the first black president of South Africa. With the help of the new policies of the government that promoted empowerment of black people as well as entrepreneurship, Motsepe went on to found Future Mining. The company provided contract mining services, which included the cleaning of gold dust from inside mine shafts. Later in 1997, when the price of gold was low, he bought marginal gold mines from AngloGold under favorable financial terms. AngloGold sold him six gold mine shafts for $7.7 million, allowing him to repay his debt out of the future earnings of the company which came to be known as African Rainbow Minerals.
In 2002, African Rainbow Minerals merged with Harmony Gold Mining Ltd, and the new company was named ARMgold. Motsepe also founded the African Rainbow Minerals Platinum Limited and ARM Consortium Limited. He is the chairman of Ubuntu-Botho Investments and the deputy chairman of Sanlam Ltd. He has also been the president of South Africa’s Chamber of Commerce and Industry.
He is also the owner of a premier league soccer club named Mamelodi Sundowns FC. He bought a 37% stake in South Africa’s famous rugby club Blue Bulls Co. Currently, he is the Black Business Council’s interim chairman. He is a former president and founding member of Business Unity SA, which is the country’s most influential business advocacy and lobby group.
You May Like
Family & Personal Life
Patrice Tlhopane Motsepe was born on 28th January 1962, in Pretoria, South Africa. His father was Augustine Motsepe, a schoolteacher who later became a small businessman. His father was once banished for stating his views opposing apartheid. Later, he became successful in distribution of liquor after he became affiliated with South African Breweries. Motsepe learnt basic business principles from his father, and he was also exposed to mining as a young man.
Along with his siblings, he did his schooling at a Roman Catholic boarding school, which was situated in the Eastern Cape Province. Later, he studied at the Univeristy of Swaziland from where he earned his Bachelor of Arts degree. He also attended the University of Witwatersrand, from where he earned his law degree, specializing in mining and business law.
He is married to Precious Moloi, a doctor and fashion entrepreneur. The couple has three children.