Patrice Motsepe Net Worth

What is Patrice Motsepe's net worth?

Patrice Motsepe is a South African mining magnate who has a net worth of $3.3 billion. Patrice Motsepe is the founder and executive chairman of African Rainbow Minerals, a diversified mining company with interests in gold, platinum, ferrous metals, and coal. His success in the mining industry catapulted him into the ranks of the continent's wealthiest individuals and established him as a pioneer of Black Economic Empowerment in post-apartheid South Africa.

Motsepe's influence extends beyond business. He is the owner of the Mamelodi Sundowns Football Club and serves as president of the Confederation of African Football (CAF), where he has led efforts to reform and revitalize African football. He is also a key figure in South Africa's financial sector through his investment firm Ubuntu-Botho Investments and its subsidiary, African Rainbow Capital. A committed philanthropist, Motsepe and his wife, Dr. Precious Moloi-Motsepe, were the first African couple to join The Giving Pledge, dedicating at least half of their fortune to charitable causes.

Early Life and Education

Patrice Tlhopane Motsepe was born on January 28, 1962, in Soweto, Johannesburg. He was raised in a household that valued both leadership and enterprise. His father, Augustine Motsepe, was a chief of the Mmakau branch of the Tswana people and also ran a small general store catering to mine workers. It was in this shop that a young Patrice learned the fundamentals of business and customer service.

Motsepe attended a Roman Catholic boarding school in the Eastern Cape, as his parents wanted to avoid the segregated public school system of the apartheid era. He later enrolled at the University of Swaziland, where he earned a Bachelor of Arts degree. He went on to earn a law degree from the University of the Witwatersrand in Johannesburg, specializing in mining and business law.

Legal and Entrepreneurial Beginnings

Motsepe began his legal career at the prominent Johannesburg firm Bowman Gilfillan, where he became the first Black partner in 1994. That same year, South Africa held its first democratic elections, and sweeping economic reforms opened new doors for Black entrepreneurs. Motsepe seized the opportunity by founding Future Mining, a company that provided contract mining services to major companies, often using a model that allowed him to be paid through a share of the output rather than cash.

In 1997, he established African Rainbow Minerals (ARM) by purchasing marginal gold mines from AngloGold at a low cost, with repayment structured over time. This move laid the foundation for one of South Africa's most successful Black-owned mining enterprises. ARM later diversified into other minerals, including platinum, iron ore, and coal, becoming a major player in the industry.

Motsepe also created Ubuntu-Botho Investments, which partnered with financial services company Sanlam in a groundbreaking Black Economic Empowerment deal. Through this vehicle, he launched African Rainbow Capital, an investment firm that holds interests in a broad range of businesses, including TymeBank, Rain (a telecom company), and several asset management firms.

Leadership in Sports

Motsepe is also significantly involved in sports ownership and leadership, having purchased the South African professional football club Mamelodi Sundowns between 2003 and 2004. After years of struggle, the club began dominating South African football, winning the Premiership for eight consecutive years from 2018 to 2025. Meanwhile, in 2021, Motsepe was elected president of the Confederation of African Football. He was reelected in 2025. Motsepe also owns a 37% stake in the South African rugby union team the Blue Bulls.

In 1999, Motsepe and his wife founded the Motsepe Foundation to promote social upliftment and economic inclusion, with a focus on health, education, and rural development. The foundation has funded a wide range of initiatives, including scholarships, school infrastructure projects, agricultural development, and disaster relief efforts.

In 2013, the Motsepes joined The Giving Pledge, an initiative led by Bill and Melinda Gates and Warren Buffett, through which billionaires commit to donating the majority of their wealth to philanthropic causes. Motsepe was the first African to make this commitment, stating that he wanted to ensure that future generations benefited from the resources and opportunities he had gained.

His philanthropic efforts have included large donations to universities, health institutions, and pandemic relief programs across South Africa and other parts of the continent.

Personal Life and Legacy

Motsepe is married to Dr. Precious Moloi-Motsepe, a physician, entrepreneur, and advocate for women's health and fashion entrepreneurship in Africa. The couple has three children. Motsepe's family includes prominent South African figures: his sister Tshepo is the First Lady of South Africa, married to President Cyril Ramaphosa, and his other sister, Bridgette Radebe, is a well-known businesswoman in the mining industry.

Patrice Motsepe's legacy is one of trailblazing success, both in business and in social development. He not only opened doors for Black entrepreneurs in South Africa's mining sector but has also used his wealth and platform to promote education, health, and economic inclusion. Through his work in business, sport, and philanthropy, he continues to shape the future of South Africa and the African continent.