Patrice Motsepe Biography
Patrice Motsepe (Patrice Tlhopane Motsepe) was born on 28th January 1962 Soweto, South Africa. He is a South African mining magnate. He is the founder and executive chairman of African Rainbow Minerals.
Patrice Motsepe Education Background
- He has a Bachelor of Arts from the University of Swaziland.
- He has a Bachelor of Law from the University of the Witwatersrand.
Patrice Motsepe Career
Patrice Motsepe was a schoolteacher who turned small businessman, he owned a spaza shop 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.
Patrice Motsepe founded a company called Future Mining, which provided contract mining services that included the cleaning of gold dust from inside mine shafts, for the Vaal Reefs Gold mine, implementing a system of worker remuneration that combined a low base salary with a profit-sharing bonus.
In 1997, he purchased marginal gold mines from AngloGold under favourable finance terms. AngloGold sold Motsepe six gold mine shafts for $7,7million allowing him to repay the debt out of the future earnings of the company now known as African Rainbow Minerals.
Patrice Motsepe Professional Positions
- 2006 – Present: Non Executive Director of Sanlam Life Insurance Limited.
- 2004 – Present: Deputy Chair of SANLAM Ltd.
- 2004 – Present: Executive Chair, African Rainbow Minerals Ltd.
- 2004 – Present: Non Executive Director of Absa Bank Limited.
- 2004: Non Executive Director of Barclays Africa Group Limited.
- 2003 – Present: Non Executive Chair of Harmony Gold Mining Company Limited.
- 1997 – Present: Chair of Naledi Mining.
- 1995 – Present: Chair of Future Mining.
- 1995 – Present: President and Owner of Mamelodi Sundowns Football Club.
- 1995 – Present: Chair of TEAL Exploration and Mining Incorporated.
- 1995 – Present: Director of African Fashion International.
- 1995 – 1996: Partner of Bowman Gilfillan Attorneys.
- 1994 – 1995: Associate partner at Bowman Gilfillan Attorneys.
Patrice Motsepe Awards and Honours
- South Africa’s Best Entrepreneur Award in 2002.
- In 2004 he was voted 39th in the SABC3’s Great South Africans.
- In 2008 he was 503rd richest person in the world, according to the Forbes World Billionaires List.
Patrice Motsepe Biography pdf
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Patrice Motsepe Age
He was born on 28th January 1962.
Patrice Motsepe Wife
Motsepe is married to Precious Moloi, and they have three children.
Patrice Motsepe Children
Together with wife Precious Moloi, they have three children.
Patrice Motsepe Family
He is married to Dr. Precious Makgosi Moloi and they have three children. He is a brother of Tshepo Motsepe and the brother in law of the President of South Africa Cyril Ramaphosa.
Patrice Motsepe Net Worth
He has an estimated net worth of $2.5 billion.
Patrice Motsepe Son
He has three sons with Dr. Precious Makgosi Moloi Motsepe and they are- Thlopie, Kgosi and Kabelo Motsepe.
Patrice Motsepe Daughter
His has three children all sons.
Patrice Motsepe House – Patrice Motsepe Mansion
In 2013 he purchased a house in the exclusive suburb of Bishopscourt in Cape Town for R69 million. The grand home, om a plot of 12000m², first hit the market for R98 million in 2011. In 2013 the European owner needed an urgent sale and slashed the price by R20 million.
- It has six en-suite bedrooms with dressing rooms.
- A floodlit tennis court, pavilion and swimming pool;
- A “predominantly” indigenous garden;
- A main bedroom suite that has a separate lounge with a fireplace and his and hers dressing rooms;
- A baronial-style lounge and a formal 24-seat dining room;
- A cigar lounge fit for a gentlemen’s club in the basement, with a climate-controlled wine cellar
- A gym, a music room, a cinema room, a billiard room and a 10-bay garage with a separate bay to have cars washed.
- House for an estate manager, and the mansion has a staff wing.
Patrice Motsepe Contact Details – Motsepe Contact Number
tel: 011 324 1500
Patrice Motsepe Photo
Patrice Motsepe Foundation
The Motsepe family, was the first family on the African continent to join The Giving Pledge, started by Bill Gates and Warren Buffet, and pledged half of the funds generated by their family assets to the poor.
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The Motsepe Foundation has contributed to global health research into developing a cure for HIV/AIDS, the donation was given to the RED campaign, an initiative founded by renowned activist and Musician Bono. The Motsepe Foundation has also made contributions to cancer research; as well as to wildlife, nature conservation and environmental protection.
On the African Continent, the Motsepe Foundation recently contributed to the global fight against Ebola, making a contribution of US$1m to the affected countries and another contribution of US$1m to the African Union directly.
In South Africa, the Motsepe Foundation has allocated US$50 million for sustainable projects that will benefit the poor and needy in various fields. This is done through 5 key pillars or focus areas.
Patrice Motsepe On The Threat Of Nationalization
Source: Forbes Africa
Patrice Motsepe works so hard to preserve his mystique that you’d be forgiven for thinking South Africa’s first black billionaire is a rather reticent man. He is anything but.
An enigma perhaps, but as the FORBES AFRICA team discovered on the rare occasion he decided to grant an interview, the mining magnate whose net worth currently stands at $2.5 billion is unafraid to speak his mind.
Motsepe is always inundated with interview requests but rarely accepts them—in the past 10 years he has done only a handful.
But these are different times. While the commodities market is experiencing a boom, the industry Motsepe makes almost all his money from, mining, is in a spin. This after a powerful lobby within the country’s ruling party, the African National Congress (ANC), started agitating for nationalization and made it known that they’d like to see this policy being adopted at the party’s elective conference in December 2012.
The loud call—thought to be one of the main contributors to the country’s potentially worsening political risk profile—has been met with an eerie quiet from the country’s captains of industry.
The Chamber of Mines of South Africa, of which Motsepe is an executive member, has not said much beyond “seeking clarity” from the ruling party and, after being told that nationalization was not policy, but that the ANC would do research into the desirability and modalities of nationalization. On one or two other occasions Chamber CEO, Bheki Sibiya, merely pointed out investors were now “edgy about investing” in South Africa and that “impacts on international confidence and is not conducive for the growth of the industry.”
The industry’s numbness, though, is not altogether surprising. The group at the forefront of the campaign, the ANC Youth League, has become as vociferous as it has grown to be powerful. After all, these are the youngsters that took current South African president Jacob Zuma from the brink of political wilderness to the highest political office in the land. So, for good measure, business is generally reluctant to cross swords with them. Led by their firebrand president Julius Malema, they have become disdainful of everyone and everything—including Zuma and the rest of the ANC’s political leadership.
For his part, though, Motsepe hardly sounds or looks perturbed. If anything, his demeanor flaunts a level of confidence and optimism, the kind you wouldn’t find from a person who stands to lose handsomely if the cantankerous ANC youth was to have its way.
“I grew up hearing those (nationalization) arguments,” he says, somewhat nonchalantly. “When the debate has taken place, people will understand that there are some countries that followed nationalization but did not help their people. In fact, the conditions of their people worsened.”
“What I take out of the call by the ANC Youth League is the challenge to assess what we are doing as business to help communities. Without a doubt we are not doing enough. ANC people will vote (for or against nationalization at the party’s conference) based on their assessment of business performance. They will vote on the basis of what’s on their own minds, and that which business doesn’t understand.”
Patrice Motsepe Video