According to Forbes in December 2019, South African industrialist and mining tycoon Patrice Motsepe had a networth of US 2,6 billion dollars.
Patrice Motsepe is South Africa’s first billionaire in United States of America Dollars.
In 2013 he was the first African to sign the Giving Pledge. This campaign was founded by American billionaires Bill Gates and Warren Buffett.
In 2017 in celebration of their 100th anniversary Forbes, honoured Patrice Motsepe as one of the 100 greatest living business minds alongside Ellon Musk, Mark Zuckerberg and more.
In March 2020, Motsepe Family donated 1 billion Rands to fight against Coronavirus. Patrice Motsepe learnt business from his father who owned a liquor store where they sold alcohol to mine workers.
Motsepe’s interest in mining came when he was in the USA where he was studying Law. In 1994 he started a company called Future Mining which was an advisory company for small and large mining companies.
Motsepe bought unprofitable mines from mining giant Anglo American in 1997 using borrowed funds. Within a year the mines were profitable and in 3 years he paid back the money he owed.
