Patrice Motsepe

Biography

Patrice Motsepe was the first black African billionaire to make it to the Forbes list. He currently has a net worth of $2.9 billion in 2022. Patrice Motsepe’s father was the owner of a small spaza shop popular with mine workers in the area. This early exposure to the mining and business world was instrumental in his successful career as a mining businessman. He began his career as a partner at the law firm Bowman Gilfillan as the first black partner in 1994, shortly after Nelson Mandela’s release from prison. In 1997 he bought six gold mines which were low producing from AngloGold. This good investment coupled with the new Black Economic Empowerment (BEE) laws allowed Patrice Motsepe to be firmly cemented in South Africa’s mining industry with him founding the successful mining company, African Rainbow Minerals. Patrice Motsepe is the non-executive director of Absa and Sanlam. He is the owner of the Mamelodi Sundowns Football Club and the president of the Confederation of African Football. Patrice Motsepe joined the Giving Pledge, a pledge where the wealthiest of the world pledge half of their wealth to philanthropy.

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