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Monday, July 20, 2015

South Africa's Only Black Billionaire -- 5 Things To Know About Him

Patrice Motsepe

Mining magnate Patrice Motsepe has the golden touch, which has made him not only one of South Africa's wealthiest men but also the country's only black billionaire. How did he do it? Gold.

Motsepe started to invest in gold in 1997 which led to his creating African Rainbow Minerals, the first South African black-owned mining company. We could stop here and say the rest is history, but here are 5 things you should know about this billionaire entrepreneur.

#1 - His culture motivates him to help others: Following the spirit and tradition of Ubuntu, which means "I am because you are," Motsepe is committed to helping care for those who are less fortunate.

#2 - He distributes much of his wealth: Motsepe donated half of his wealth in 2013, through the Motsepe Foundation, to help improve life for the poor, the disabled, unemployed, women, youth, workers and other needy South Africans.

#3 - He is named after the former Prime Minister of the Democratic Republic of Congo: His name, Patrice, comes from Patrice Lumumba, the first elected Prime Minister of the Democratic Republic of Congo who helped the country gain their freedom from Belgium.

#4 - He owns a football team: Motsepe owns Mamelodi Sundowns, nicknamed The Brazilians. The football team wears yellow and blue uniforms reflective of Brazil's national team.

#5 - He's very rich: Not only is Motsepe South Africa's only black billionaire, he is the 847th richest person in the world, according to Forbes magazine, with a net worth of $2.2 billion. He is one of seven South Africans in the list, and the only black man.

Read more by visiting www.forbes.com/profile/patrice-motsepe/



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