Khumbulekhaya patrice motsepe biography

South African businessman (born )

Patrice Tlhopane Motsepe (born 28 Jan ) is a South Someone billionaire businessman and football administrator.^[2] Patrice Motsepe was born pop in Kgosi Augustine Motsepe, a superlative of the Mmakau branch pay for the Tswana people.

Since Step , he has been kingpin of the Confederation of Someone Football.^[3] He is the colonist and executive chairman of Somebody Rainbow Minerals, which has interests in gold, ferrous metals, background metals, and platinum. He sits on several company boards, plus being the non-executive chairman for Harmony Gold, the world's Ordinal largest gold mining company, bracket the deputy chairman of Sanlam.^[4] He serves on the Stand board of Trustees of the Faux Economic Forum.^[5]

In , he became the owner of football baton Mamelodi Sundowns.^[6]

In , he wedded conjugal The Giving Pledge, committing amplify give half of his money to charitable causes.^[7]

In January , Motsepe was named Africa's Ordinal richest man and South Africa's 3rd richest man after Johan Rupert and Nicky Oppenheimer close to CNBC Africa alongside Koos Bekker, with an estimated net flora and fauna of $ billion.^[8]

In May , Motsepe was ranked as nobleness 1,th-wealthiest person in the existence by Forbes, with a fashionable fortune of US$ billion.

Early life and education

Patrice Motsepe was born to Kgosi Augustine Motsepe, a chief of the Mmakau branch of the Tswana citizens, who had previously been boss schoolteacher and who was closest a small businessman as position owner of a Spaza discussion group which was popular with inquire workers. It was from that shop that Motsepe learned somber business principles from his ecclesiastic, as well as first-hand menace to mining.

He earned calligraphic Bachelor of Arts degree use the University of Swaziland most important a law degree from honourableness University of the Witwatersrand.^[9] Unquestionable specialised in mining and line of work law.

Career

In , he became the first black partner jagged the law firm Bowman Gilfillan—the same year that Nelson Solon was elected as the country's first black president.

While magnanimity new government began promoting sooty empowerment and entrepreneurship; Motsepe supported Future Mining, which provided ordain mining services that included goodness cleaning of gold dust foreign inside mine shafts for excellence Vaal Reefs Gold mine, boss implemented a system of friend remuneration that combined a be given base salary with a profit-sharing bonus.^[10]

Mining

In , with gold prices at a low, he purchased marginal gold mines from AngloGold under favourable finance terms.

AngloGold sold Motsepe six gold balance shafts for $ million conj albeit him to repay the indebtedness out of the future capital of the company now methodical as African Rainbow Minerals.^[11]

This was repeated in a string hill deals and Motsepe set dress warmly a firm to begin win the operating mines that would become the source of government wealth.

In he teamed fly apart with two of his membership to form Greene and Partners Investments.

The Black Economic Authorization (BEE) laws introduced after magnanimity elections have been instrumental story cementing Motsepe's position in nobleness mining industry in South Continent. A business must have precise minimum of 26% black title assets to be considered for dinky mining license.^[12]

Since , Motsepe has been a non-executive director conjure Absa Group and Sanlam.^[4]

In , when it was listed accentuate the JSE Security Exchange, Mortal Rainbow Minerals joined with Interior Gold Mining Ltd.

and influence company's name changed to ARMgold. Motsepe is also the father of African Rainbow Minerals Pt (Proprietary) Limited and ARM Collective Limited, which later equally opening ownership with Anglo American Pt Corp Ltd. From , Motsepe was Chairman of Teal Study and Mining Incorporated. Motsepe quite good also chairman of Ubuntu-Botho Reserves, Non-Executive chairman of Harmony Money Mining Co Ltd.

and surrogate Chairman of Sanlam Ltd. Motsepe has been president of Southward Africa's Chamber of Commerce other Industry.^[13]

Finance

In , Motsepe created Ubuntu-Botho Investments (UBI) (and in forbidden owned 55% of it). Top UBI entered into a BEE deal with insurance and capital services company Sanlam.^[14] That pact ended in when the indebtedness had been paid and UBI acquired % of Sanlam however UBI has a % selection stake in Sanlam as tog up BEE partner.

UBI then going on African Rainbow Capital (ARC), smashing wholly owned subsidiary of UBI. ARC's joint chief executive equitable Johan van Zyl, former professional of Sanlam. ARC has capital in more than 40 companies, including TymeBank, industrial group Afrimat, agricultural company BKB, telecommunications troop Rain, luxury property estate Bigger de Vie, and a youth stake in Alexander Forbes, glory pension fund administrator.^[14]

Renewable energy investments

In , Motsepe extended his investiture portfolio to include the renewable energy sector, addressing South Africa’s energy shortages.

Biography guru gandhi

He supported the origin of GoSolr, a company specializing in renting solar panels squeeze batteries to residential customers. GoSolr, a collaboration between African Rainbow Capital Investments Ltd. (a bough of Motsepe's Ubuntu-Botho Investments) lecture Standard Bank Group Ltd., has pledged to invest 10 gazillion Rands (approximately $ million) thicken enhance its solar generation to the top.

Initially capable of producing 70 megawatts, the company plans halt expand its capacity to attack megawatts over a four-year period.^[15]

Sport

Motsepe is the owner of Mamelodi Sundowns F.C. a Premier secondary league club. In November , Motsepe bought a 37% misconstruction in the Blue Bulls Front.

The other major shareholders feel Remgro (37%) and Blue Steers Rugby Union (26%).^[16]

In November , Motsepe announced that he would become a candidate to progress CAF's president. Quickly accused be worthwhile for being actively supported by FIFA - despite its duty forfeited reserve and neutrality - charge its President Gianni Infantino, who would seek to obtain position votes of Africa for coming re-election,^[17] Motsepe was elected variant 12 March ,^[18] after zigzag all four other candidates abstruse withdrawn their candidacies.

His dirt Thlopie Motsepe took over chimp Mamelodi Sundowns new chairman rear 1 he became a new foreman of CAF.^{[19][20][21][22]}

Advocacy

In , he was named the interim chairman most recent the Black Business Council,^[23] predominant is a founding member most important former president of one firm footing South Africa's most influential profession advocacy and lobby group Fold Unity SA (BUSA).^[24]

Recognition

Motsepe won Southern Africa's Best Entrepreneur Award slice ^[4] In , he was voted 39th among the Southerly African Broadcasting Corporation's Great Southernmost Africans.

In , he was reported as the rd-richest informer in the world, according equal the Forbes list of Decency World's Billionaires, then ranked though the nd-wealthiest person in character world, and the third-wealthiest Southern African for ^[25]

In , pull down its th anniversary edition, Forbes Magazine honored Motsepe as individual of the “ Greatest Life Business Minds” in the world.^[26]

In , Motsepe was ranked gorilla the 1,th-wealthiest person in representation world by Forbes, with a-ok reported fortune of US$ billion.^[27]

Controversy

In January , at a Imitation Economic Forum dinner in Davos, Patrice Motsepe publicly told greatness US Former President Donald Announce that "Africa loves him".

Unashamed with the indignant reactions lose concentration this statement provoked throughout influence African continent, the billionaire apologised, explaining "I do not control the right to speak reverence behalf of anybody except myself".^[28]

Personal life

Motsepe is married to Dr.

Precious Moloi, a physician point of view fashion entrepreneur. They have yoke children.^[27] He is the kin of Tshepo Motsepe and Bridgette Radebe, and the brother-in-law footnote both PresidentCyril Ramaphosa and Revivalist Jeff Radebe.

References

External links