5 things to know about South African billionaire Patrice Motsepe

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CAPE TOWN – We take a look at South African mining magnate, Patrice Motsepe and his booming business.

Motsepe is Africa’s first black billionaire, according to Forbes with an estimated fortune of $1.82 billion (R23.2 billion).

THE FACT SHEET:

1. Patrice Tlhopane Motsepe, a South African mining magnate, deputy chairman of Sanlam, owner of football club Mamelodi Sundowns, and Executive Chairman of African Rainbow Minerals (ARM), listed on the main board of the JSE on 7 September 2017, raising R4.3 billion.

2. Motsepe was born in Soweto, 28 January 1962.

3. The mining magnate studied a Bachelor of Arts Degree at the University of Swaziland and went on to pursue a Law Degree at the University of the Witwatersrand.

4. He became the first black partner in one of the “Big Five Law Firms”, Bowman Gilfillan in 1994.

5. The South African mining billionaire joined philanthropic organisation in 2013, The Giving Pledge, whereby he committed to donating half of his fortune toward charitable causes.

AESP: Tycoon of the Week is South Africa’s Patrice Tlhopane Motsepe https://t.co/jC18mzSMcB pic.twitter.com/U050FklM0C

— www.aesp.biz (@askaesp) February 19, 2017

Source:Business Report Online

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