Patrice Motsepe is the household name when they talk about the richest people in the country. He is number 3 on the list with a net worth of $2.6 billion according to Forbes list. On the list he is joined by business tycoons such as Nicky Oppenheimer - $7.7 billion and Johann Rupert - $6.5 billion. In this article we are going to breakdown all of his business ventures and a little bit of history on how he managed to accumulate such wealth.
He was born on 28 January 1962 and was raised in Ga-Rankuwa. He got most of his business knowledge from his father who was a teacher by profession and a businessman by trade. Motsepe was exposed to the mining sector and generated most of his wealth from there. Initially focusing on gold mining and getting his company listed on the JSE. He then expanded to other industries that continue to dominate and put forth a fierce competition.
>Law degree Wits University
>BA degree University of Swaziland
He is a majority shareholder is Mamelodi Sundowns. That explains why the team was able to fly Barcelona for the Mandela centenary Cup that happened back in 2018. The final score was 3 Barcelona - 1 Mamelodi Sundowns. Earlier this year he was also crowned Confederation of African Football (CAF) President.
Motsepe's love for sports was evident when he decided to expand his investments by buying shares in a rugby team - Blue Bulls. This is one of the most popular rugby franchise in the country and he is joined by heavyweights such as Johan Rupert.
Patrice Motsepe’s investments He has shares in 8 asset management companies. This includes Sanlam, Alexander Forbes and Khumo Capital just to name a few.
He has also show interest in the banking industry with his investment in a digital bank Tyme Bank which was established in 2015. The bank has no branches and offers a fully functional online platform that allows it to reduce costs for customers.
He is also part of the insurance industry with investments in National Health Services, LifeCheq and African Rainbow Life just to name a few.
The property industry has been a propeller for wealth for years now. It has created more Billionare's than any industry. Motsepe has investments in Barlow Park, ARC Real Estate and Val de Vie.
After all Motsepe started gaining a lot of his business interests and influence from this industry. He is part of Afrimat and Kropz Group.
This is just an overview of companies and investments Motsepe has bought shares in. As you can see, the billions or assets he has accumulated comes from very hard work and dominating every industry. Let us know your thoughts about this business tycoon in the comments section below, we'd love to hear from you. Remember to follow us and get notified when a new exciting article is published daily.
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