|Real Name/Full Name||Patrice Tlhopane Morsepe|
|Nick Name/Celebrated Name:||Patrice Motsepe|
|Birth Place:||Ga-Rankuwa, Pretoria, South Africa|
|Date Of Birth/Birthday:||28 January 1962|
|Age/How Old:||61 years old|
|Height/How Tall:||In Centimetres – 175 cm |
In Feet and Inches – 5′ 7″
|Weight:||In Kilograms – 78 Kg|
In Pounds – 172 lbs
|Parents Name:||Father – Kgosi Augustine Motsepe |
Mother – Unknown
|Siblings:||Tshepo Motsepe and Bridgette Radebe|
|School:||St. Mark High School|
|College:||University of Swaziland|
|Wife/Spouse Name:||Precious Moloi|
|Kids/Children Name:||Kgosi, Thlopie, and Kabelo Motsepe|
|Net Worth:||$3.2 billion|
|Last Updated:||September 2023|
Patrice Thlopane Motsepe is a South African businessman and entrepreneur. He became the president of the Confederation of African Football on 12 March 2021. Apart from being the founder and executive chairman of African Rainbow Minerals, he also sits on various company boards, including Harmony Gold as the Non-executive chairman. He is also the deputy chairman of Sanlam. He owned Mamelodi Sundowns football club in 2003.
Biography and Early Life
Patrice Motsepe was born on 28 January 1962 in Ga-Rankuwa, Pretoria, in South Africa. His father, Kgosi Augustine Motsepe, was a chief f the Mmakau branch for the Tswana people. He previously was a teacher before he became the owner of a Spaza shop mainly popular with black mineworkers. He learned basic business techniques from his father. There are no details concerning his mother, but he was raised together with two of his sisters, Tshepo Motsepe and Bridgette Radebe.
Patrice graduated from the University of Swaziland with a Bachelor’s Degree in Arts. He received his law degree from the University of Witwatersrand, where he specialized in mining and business law.
Personal Life: Wife, Kids, Children, etc.
Motsepe is a family man with a wife and children. His wife is called Dr. Precious Moloi, who is a physician and fashion entrepreneur. The couple is blessed with three children, namely; Kgosi Motsepe, Thlopie, and Kabelo Motsepe. He married his wife in 1989, and the couple is still living happily together.
Is Patrice Motsepe Gay?
No. Motsepe is straight as far as sexual orientation is concerned. He has never had any rumors of being gay or bisexual. He is married to a beautiful wife and they are blessed with three children.
Motsepe began his career in 1994 when he became the first black partner in Bowman Gilfillan law firm. This was the same year when Nelson Mandela was elected the first black president in South Africa. The new government promoted black empowerment and entrepreneurship, and Motsepe founded Future Mining. The company provided contract mining services, including cleaning of gold dust from mine shafts for the Vaal Reefs Gold Mine. It was his idea to have an implemented system of worker remuneration which combined low base salary and a profit-sharing bonus.
After gold prices became relatively low in 1997, he purchased marginal gold mines from AngloGold. He was sold six gold mine shafts at $7.7 million. The company is now called African Rainbow Minerals. He bought several deals and began a firm to buy the operating mines, which depict the source of his wealth. He collaborated with two of his associates and formed Greene and Partners Investment. Black Economic Empowerment (BEE) was started after the 1994 elections and has been helped Motsepe in his mining industry in South Africa. He has been a non-executive director of Absa Group and Sanlam since 2004. Africa Rainbow Minerals joined Harmony Gold Mining Limited in 2002 after it was listed on the JSE Security Exchange.
Motsepe has also been in the financial department and created Ubuntu-Botho Investment (UBI) in 2003. By 2019, he owned 55% of it. UBI entered into a BEE deal in 2004 governed by insurance and financial services company Sanlam. However, the deal ended in 2014, and by this time, the debt had been paid, and UBI acquired 14.5% of Sanlam but had 18.1% voting state as BEE partner.
He has also invested in sports and is the owner of Mamelodi Sundowns F.C. he bought a 37% stake of Blue Bulls Co. In November 2020, he declared his intentions to be a candidate for CAF president but was accused of being actively supported by FIFA. He was elected on 12 March 2021 after the other four candidates withdrew.
He is currently serving as the interim chairman of the Black Business Council.
Awards and Achievements
Patrice has received various awards and recognitions. In 2002, he was awarded South Africa’s Best Entrepreneur Award. He was voted among the 39South African Broadcasting Corporation’s Great South Africans in 2004. He was reported as the 503rd richest person in the world in 2008. Forbes listed him on the list of the World’s Billionaires and the 62nd richest person in the world.
Net Worth, Salary & Earnings of Patrice Motsepe in 2023
Motsepe has been in business for a very long time. He is one of the richest men in the world, with an estimated net worth of $3.2 billion. Patrice Motsepe owns several highly-valued mansions. One of his popular houses is located in Johannesburg and another in Cape Town. The house in Cape Town is estimated to have had an investment of 69 Million Rands.
Some Interesting Facts You Need To Know
- With his wealth, he owns expensive cares and a house
- He is the third wealthiest person in South Africa, according to Forbes
- He is a brother-in-law to President Cyril Ramaphosa and Minister Jeff Radebe.
Patrice Motsepe is not only one of the richest men in South Africa but also in the world. He is a great business tycoon who has accumulated his wealth from various business involvements. He has greatly contributed to the growth of the South African economy.