South Africa: Patrice Motsepe retains position as JSE’s richest investor – report

Abu Mubarik November 09, 2023
Patrice Motsepe. Photo via Twitter/CAF

Patrice Tlhopane Motsepe has retained his position as the Johannesburg Stock Exchange’s (JSE) richest investor, according to Billionaires.Africa. Per the platform, he remains the foremost figure in South Africa’s stock market. 

Motsepe’s status was contained in Billionaires.Africa’s list of the “30 Richest South Africans on the JSE.” This is in spite of the fact that his stock holdings decreased from $1.61 billion on June 29 to $1.58 billion.

“He maintains his lead over South Africa’s wealthiest man Johann Rupert, whose total equity portfolio on the JSE is valued at $1.33 billion,” Billionaires.Africa reported.

Motsepe is a South African mining magnate who became a billionaire in 2008. He is the first black African on the Forbes list of world billionaires and has continued to hold his status as one of South Africa’s richest men.

He said he was inspired by his grandfather and father, who were both entrepreneurs as well as his mother, a businesswoman who ran the family business at the time. He founded African Rainbow Minerals Ltd (ARM). The company mines iron ore, manganese ore, and alloys, platinum group metals, copper, nickel, and coal. ARM also has an investment in gold.

He is also the founder of African Rainbow Capital, African Rainbow Energy and Power, and has been acknowledged by Forbes as one of the “100 Greatest Living Business Minds” in the world.

Motsepe, who is also a member of the Board of Directors at the insurance company, Salnam, believes that a lot of hard work, sacrifices, and persistence has gotten him where he is today.

Apart from being an international businessman, Motsepe is an expert in governance, law, and compliance. He is also the founder and chair of Ubunto-Botho Investments.

In a recent interview with CNN, the African billionaire stated that his first passion was entrepreneurship. “Growing up in a business environment in a family, standing behind conflicts at a young age, and I wanted to pursue my first passion which was entrepreneurship,” he said.

He said it took many years of looking at which opportunity to explore and he realized that his country did not have a history of small-scale mining. Then he decided to venture into small-scale mining.

Motsepe has a BA law degree (University of Swaziland), LLB (Wits University), Doctor of Commerce (honoris causa) (Wits University), Doctor of Commerce (honoris causa) (Stellenbosch University), Doctor of Management and Commerce (honoris causa) (Fort Hare) and Doctor of Laws (honoris causa) (University of Eswatini, formerly University of Swaziland).

He was a partner in one of the largest law firms in South Africa, Bowmans, and was also a visiting attorney in the USA with McGuireWoods.

Last Edited by:Mildred Europa Taylor Updated: November 9, 2023


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