CURRENT NET WORTH: US$1.56 BILLION
Patrice Tlhopane Motsepe (born on 28 January 1962) is a South African mining tycoon. He is the author and official executive of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He likewise sits on a few organization sheets including being the non-official director of Congruity Gold, the twelfth biggest gold mining group on the planet, and is the agent administrator of Sanlam. In 2012, Motsepe was named South Africa’s wealthiest man, beating the Sunday Times’ yearly Rich Rundown with an expected fortune of R20.07 billion ($2.4 billion).
In 2003, he turned into the proprietor of football club Mamelodi Dusks. In 2013, he joined The Giving Promise, resolving to give a significant portion of his riches to noble causes.
Patrice was born to Augustine Motsepe, a teacher turned little specialist, who possessed a Spaza shop prevalent with dark diggers. It was from this shop Motsepe took in essential business standards from his dad and also a direct introduction to mining.
He earned a four-year education in liberal arts at the College of Swaziland and a law degree from the College of the Witwatersrand and turned into the first law attorney in the law office Bowman Gilfillan in 1994, that year Nelson Mandela was chosen the nation’s initially black president. He had practical experience in mining
and business law when the new government had started the way toward advancing black strengthening and enterprise. Motsepe established an organization called Future Mining, which gave contract mining administrations that incorporated the cleaning of gold tidy from inside mine poles, for the Vaal Reefs Goldmine, executing an arrangement of laborer compensation that joined a small base pay with a benefit-sharing bonus.
In 1997, with gold costs at a low, he bought minor gold mines from AngloGold under significant fund terms. AngloGold sold Motsepe six gold dig shafts for $7.7million enabling him to reimburse the obligation out without bounds profit of the organization now known as African Rainbow Minerals.
This was rehashed in a series of arrangements and Motsepe set up a firm to start purchasing the working mines that would turn into the wellspring of his riches. In 1999 he collaborated with two of his partners to create Greene and Friends Ventures.
The Black Monetary Strengthening (Honey bee) laws presented after the 1994 decisions have been instrumental in establishing Motsepe’s position in the mining business in South Africa. A business must have at least 26% black proprietorship to be considered for a mining license.
Motsepe won South Africa’s Best Businessperson Honor in 2002. Out of 2004, he was voted 39th in the SABC3’s Awesome South Africans (SABC being South African Telecom Partnership, the administration supported state supporter). In 2008 he was 503rd wealthiest individual on the planet, as per the Forbes World Tycoons Rundown. Since 2004, he has been a non-official executive of Absa Gathering and Sanlam
In 2002 when it was recorded on the JSE Security Trade, African Rainbow Minerals joined with Amicability Gold Mining Ltd. also, the organization’s name changed to ARMgold. Motsepe is likewise the author of African Rainbow Minerals Platinum (Exclusive) Constrained and ARM Consortium Restricted, which later similarly split possession with Old English American Platinum Corp Ltd. From 2005, Motsepe was Administrator of Blue-green Investigation and Mining Fused. Motsepe is likewise the director of Ubuntu-Botho Speculations, Non-Official administrator of Congruity Gold Mining Co Ltd. also, appointed Director of Sanlam Ltd. Motsepe has been the leader of South Africa’s Assembly of Trade and Industry.
He is right now the interval director of the Dark Business Committee and is an establishing part, and the previous leader of one of South Africa’s most compelling business promotion and hall amass Business Solidarity SA (BUSA).Motsepe and Ubuntu-Botho Ventures is to collaborate with protection and money related administrations organization Sanlam to establish a private value firm with attention on African investments.
Patrice is married to Dr. Precious Moloi; the couple has three kids. Patrice is additionally the sibling of Tshepo Motsepe and the brother by marriage of the Representative Leader of South Africa Cyril Ramaphosa.
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