|Net Worth:||$2.9 Billion|
|Date of Birth:||January 28, 1962 (61 years old)|
What is Patrice Motsepe’s net worth
Patrice Motsepe is a South African business tycoon who has a net worth of $2.7 billion. He is the current chairman and founder of a publicly traded mining conglomerate widely known as African Rainbow Minerals (ARM) whose main focus is on chrome, iron, manganese, coal, copper, platinum, nickel, and gold.
Kgosi Augustine Motsepe, the leader of the Macau branch of the Tswana people, was the father of Patrice Tlhopane Motsepe. His father had been a schoolteacher in the past and later the owner of a well-liked Spaza shop for mine workers.
He learned the fundamentals of business from his father in this shop, where he also gained first-hand mining experience.
Patrice earned a law degree from the University of the Witwatersrand and a bachelor of arts degree from the University of Swaziland, respectively. He focused on business law and mining
Despite numerous setbacks the company must have passed through ranging from subsequent production losses, labor disputes, and violence, Patrice’s wealth didn’t stop booming.
A company named Harmony, which specializes in converting existing residences into new residences, employs Patrice as CEO in addition to being a shareholder in the business.
In addition, he serves as the President of Business Unity South Africa (BUSA), the organization that represents organized business in South Africa, and the Deputy Chairman of Sanlam, the country’s largest financial services provider.
Patrice, who was raised by a father who sold alcohol, chose to pursue a legal career rather than work at his father’s store.
Both a BA and an LLB are degrees he holds, and he was the first black partner at the Bowman Gilfillan law firm in Johannesburg.
Patrice eventually changed careers and entered the mining sector. He bought some low-yielding gold mine shafts in 1994, and he turned them into a profitable business by using a lean management strategy.
Also, he benefited from South Africa’s Black Economic Empowerment (BEE) regulations, which mandate that firms have at least 26% ownership of persons of African heritage in order to be granted a government mining license.
Additionally, he has been the Mamelodi Sundowns Football Club’s president and owner since 2003. He recently joined The Giving Pledge and declared that he would donate half of his money to charitable organizations.
Dr. Precious Moloi, a doctor and businesswoman in the fashion industry, is Motsepe’s wife. Three children are born to them. Tshepo Motsepe, Bridgette Radebe, and President Cyril Ramaphosa are his siblings, and he is also the brother-in-law of Minister Jeff Radebe.
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