Patrice Motsepe has been the talk of the town since the news regarding his relationship with South African actress Katlego Danke was released. Reports claim that Patrice Motsepe had an affair with Katlego Danke and fathered two children with her.
The rumors started to circulate on the internet earlier this week. Motsepe or Danke haven’t responded to any of these rumors. But people have already begun to judge and question those two. We can’t jump to conclusions until either of the two admits whether the rumor was right or wrong.
There might be at least a few that wonder who Patrice Motsepe is. Keep on reading this article to find out everything that you need to know about Patrice Motsepe’s personal and professional life.
Who Is Patrice Motsepe?
Patrice Motsepe is a billionaire mining businessman from South Africa. He founded African Rainbow Minerals and currently holds the position of executive chairman. In addition to gold, base metals, ferrous metals, and platinum mines, his business has shares in a wide variety of other mines.
Motsepe is on the boards of various corporations, including the non-executive chairman of Harmony Gold, the world’s twelfth-largest gold mining firm. He serves as Sanlam’s deputy chairman as well.
As of 2023, Patrice Motsepe net worth in rands is estimated to be more than R49 billion($2.7 billion in USD).
With a net worth of more than $1 billion, Motsepe was named the wealthiest person in South Africa in 2012 and topped the Sunday Times’ annual rich list. He pledged to donate half his net worth to charity when he signed up for The Giving Pledge in 2013.
Patrice Motsepe: Early Life And Education
Patrice Motsepe was born as the son of Kgosi Augustine Motsepe, chief of the Makau branch of the Tswana people. His father had previously worked as a school teacher and later as the proprietor of a famous Spaza shop for mine workers.
Motsepe learned the fundamentals of the mining business from his father in this shop, where he also gained first-hand mining experience. Motsepe graduated from the University of Swaziland with a Bachelor of Arts degree and the University of the Witwatersrand with a law degree.
Patrice Motsepe: Business Career
Patrice Motsepe began a significant part of his life during the apartheid era. He began working for Bowman Gilfillan in the same year Nelson Mandela became South Africa’s first black president.
Motsepe established Future Mining with the aid of the new government policies that supported black business and empowerment. In addition to cleaning up gold dust from inside mine shafts, the company offered contract mining services.
Later in 1997, when gold was very cheap, he purchased marginal gold mines from AngloGold on favorable terms.
For $7.7 million, AngloGold sold him six gold mine shafts, enabling him to pay off his debt from future profits of the business that would later become known as African Rainbow Minerals.
African Rainbow Minerals and Harmony Gold Mines Ltd. Combined in 2002, creating ARMgold as a result.
Motsepe established the ARM Consortium Limited and African Rainbow Minerals Platinum Ltd. he serves as the deputy chairman of Sanlam Ltd. and Ubuntu-Botho Ventures. He served as the Chamber of Commerce and Industry of South Africa’s president.
Patrice Motsepe: Other Activities
Motsepe owns Mamelodi Sundowns FC, a soccer team that competes in the Premier League. He acquired 37% ownership in the outstanding rugby team Blue Bulls Co. of South Africa. He serves as the interim chairman of the Black Business Council at the moment.
He served as Business Unity SA’s founding member and former president, making it the most effective business advocacy and lobbying organization in the nation.
Besides these businesses and other activities of Motsepe, he is also a well-known philanthropist in South Africa. Motsepe has founded the organization Motsepe Foundation in 1999 along with his wife Dr. Precious Moloi-Motsepe.
Patrice Motsepe: Awards And Recognitions
- South Africa’s Best Entrepreneur Award (2002)
- Positioned as 503rd wealthiest person in the world (2008)
- Listed in the Great South Africans honor by the South African Broadcasting Corporation (2004)
- Listed in Forbes’ The World’s Billionaires (2019)
- Forbes Third Wealthiest Person in South Africa (2019)
- Forbes 962nd Wealthiest Person in the World (2019)
- Forbes 1,307th wealthiest Person in the World (2020)
Patrice Motsepe: Personal Life
Mostepe is married to Dr. Precious Moloi Motsepe. She is a doctor and businesswoman in fashion. Motsepe founded the Motsepe Foundation along with Dr. Precious Moloi.
He has two sisters named Tshepo Motsepe and Bridgette Radebe. His sister Tshepo was married to minister Jeff Radebe; Bridgette was to President Cyril Ramaphosa.
Patrice Motsepe: Net Worth And Assets
Patrice Motsepe’s net worth in rands is supposed to be an estimated amount of more than R49 billion (2.7 billion USD) Motsepe currently resides with his family in a Cape Town mansion worth R69 million. According to reports, Motsepe spends an additional R30,000 on the upkeep of the property.
Motsepe reportedly purchased 20% of the Val de Vie estate’s shares through his company, African Rainbow Capital (ARC). the estate features a horse farm, golf courses, wineries, spas, and restaurants.
Besides business, sports, and charity, Motsepe is interested in luxury cars. The multi-billionaire is believed to have a collection of several high-end cars, including a BMW 760 Li, a Bentley Continental GT, and a Mercedes Benz S65 AMG. Motsepe reportedly purchased a private jet for almost R372 million ($20 million).