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Patrice Motsepe was born to Kgosi Augustine Motsepe, who had previously been a school teacher. His father later became a small businessman as the owner of a Spaza shop which was popular with black mine workers. 

It was from this shop that Motsepe learned basic business principles from his father, as well as first-hand exposure to mining.

Motsepe earned a Bachelor’s Degree in Law from the University of Swaziland and a Law Degree from the University of the Witwatersrand, Johannesburg.

He became the first black African on the Forbes billionaire list in 2008 after founding African Rainbow Minerals.

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In 2016 he founded a new private equity firm, African Rainbow Capital, which started TymeBank, and also holds a major stake in Sanlam.

According to Forbes, Motsepe has a net worth of $1.5 billion, roughly R26. 35 billion at current exchange rates.

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