Patrice Motsepe: Get to Know SA's Wealthiest Man With 4 Quick Facts

Patrice Motsepe: Get to Know SA's Wealthiest Man With 4 Quick Facts

Born on 28 January 1962, Mzansi’s billionaire 60 year old Patrice Tlhopane Motsepe is the embodiment of the black excellence. Serving as an inspiration to many South African’s he has successfully managed to dominate various professional spaces in the post-apartheid era. The businessman has even been ranked among richest people in the world. While a lot is known about Mostepe Briefly News sought to compile and share 4 personal facts about the accomplished public figure.

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Patrice Motsepe, Billionaire, South Africa
Patrice Motsepe is not only South Africa's wealthiest man but is also a philanthropist and a lawyer. Image: Jemal Countess/Getty Images for Global Citizen
Source: Getty Images

Besides entrepreneurship, he is a famed philanthropist and lawyer with a deep founded interest in education and supporting various communities through the Motsepe Foundation.

Before the money and the public status

He was born on the 28th of January, 1962, in Ga-Rankuwa, Pretoria, South Africa, as a prince in the Tswana clan. Additionally, his first name, Patrice, was inspired by the famous Patrice Lumumba, the first elected Prime Minister of DRC Congo. Briefly News previously reported that the billionaire grew alongside his schoolteacher father, who later became a small-scale businessman. He learned critical business principles from his father's black miners Spaza Shop, and through this life-changing exposure, Patrice mastered the art of mining and business in the sector.

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He later became the founder and chairman of African Rainbow Minerals which made him a billionaire in 2008 and the first black African on the Forbes list. He has since been involved in many successful business ventures and football associations.

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Patrice Motsepe, South Africa
Patrice Motsepe, CAF President, delivers his introductory speech during the draw ceremony for the 2022 African Cup of Nations (CAN). Image: DANIEL BELOUMOU OLOMO/AFP via Getty Images
Source: Getty Images

Motsepe the philanthropist

Together with his wife Dr Precious Moloi-Motsepe, they the Motsepe Foundation, an organisation focused on improving education and health. The Foundation was created on the philosophy of ‘ubuntu’, the African concept of giving and caring for your neighbour and other members of your community.

The billionaire is also the first African to have joined The Giving Pledge, a campaign founded by Warren Buffett and Bill Gates. In 2013, he agreed to donate half of his wealth to charitable causes.

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Patrice Motsepe, Dr Precious Moloi-Motsepe, South Africa
The Motsepe Foundation Founder and Chairman Dr. Patrice Motsepe and The Motsepe Foundation Co-Founder and CEO Dr. Precious Moloi Motsepe. Image: Theo Wargo/Getty Images for Global Citizen
Source: Getty Images

Not a politician, but he is the president’s brother in-law

While tycoon may not be a politician himself, his older sister, Tshepo Motsepe is married to the president of South Africa, Cyril Ramaphosa, confirmed The Africa Reports. Another one of his sisters, Bridgette, the only woman presiding over a mining industry association in South Africa, is the wife of Jeff Radebe, a high-ranking official in the ruling African National Congress (ANC) party who formerly served as energy minister early on in Ramaphosa’s administration.

Patrice Motsepe, South Africa, Mzansi
Motsepe Foundation Founder Patrice Motsepe speaks onstage during Global Citizen Presents Global Goal Live: The Possible Dream at St. Ann’s Warehouse. Image: Noam Galai/Getty Images for Global Citizen
Source: Getty Images

He loves his wine: Buys a whole vineyard

The Business Insider recently confirmed that Motsepe purchased a popular luxury wine farm called Hidden Valley near Stellenbosch and Somerset, South Africa.

The sale, which was recently announced, includes the purchase of a 28-hectare farm listed for sale at R160 million but was acquired for between R100 million ($5.5 million) and R120 million ($7.9 million) in cash, according to News24. The mining tycoon reportedly paid more for the property than former owner Riaan Stassen did in 2015 when the property was first purchased.

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IEC Reveals Ramaphosa's R366k ANC donation, while Motsepe contributed over R5m

In separate report, Briefly News previously reported that the Second Quarter Disclosure Report has revealed that ANC President Cyril Ramaphosa made two donations amounting to R366 000 to his financially constrained party in the lead-up to the municipal elections.

The report, released by the Electoral Commission of South Africa (IEC) on Thursday, took into account donations received by political parties in the period from July to September 2021.

Ramaphosa's donations of R200 000 and R166 000 on August 30 merely scratched the surface compared to his mining magnate brother-in-law Patrice Motsepe, who reportedly contributed over R5 million to the ANC's cause, News24 reported.

Source: Briefly News

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