Patrice Motsepe's Net Worth Explained

South Africa’s favourite billionaire- Patrice Motsepe, is not just one of the wealthiest people in South Africa, but he is also one of the most influential people as well.

The billionaire who dared to dream has managed to win big in the white-dominated list of the elite class in South Africa.

While he loves to spend his billions in ways that bring him happiness Motsepe also loves giving back to society through his charitable organization- The Motsepe Foundation.

Let’s take a look at Patrice Motsepe’s net worth, his sources of wealth, and a sneak peek into his life of luxury.

According to Forbes, Patrice Motsepe’s net worth as of 2022 is $3.6 billion which is roughly equivalent to R52 billion.

Let’s take a look at Patrice Motsepe’s sources of wealth that contributed to Motsepe’s billions.

Motsepe, who holds a degree in law with a specialization in mining and business law, got into the mining business in 1997 when he formed the first black-owned mining business in South Africa called the African Rainbow Minerals.

In 2002, Africa Rainbow Minerals merged with Harmony Gold Mining Ltd, and the company’s name changed to ARMgold, which is among the largest gold producers in the world. The company operates in South Africa and Malaysia and deals in diverse minerals, including Gold, Iron, Platinum, and Manganese.

His hand in the mining business has greatly contributed to Patrice Motsepe’s net worth.

Besides mining, Motsepe has also heavily invested in the financial sector.

In 2003, he formed Ubuntu-Botho Investments (UBI) which he is a majority shareholder. The investments company has stakes in over 40 companies, including TymeBank, Rain telecommunications company, and Val de Vie- a luxury property estate.

Patrice has a keen interest in sports and in particular soccer and rugby. He is the owner of Mamelodi Sundowns F.C  and has shares in Blue Bulls Co.

Since March 2021, Patrice has been serving as the President of the Confederation of African Football (CAF.)

The money he makes from sports contributes a percentage of Patrice Motsepe’s net worth.

Along with making money from sports, Motsepe also knows how to spend it on sports. In 2018, he spent millions of dollars to bring Barcelona FC players to South Africa to play with his Mamelodi Sundowns F.C.

Patrice Motsepe’s net worth earns him a spot among the top ten richest people in South Africa and the whole of Africa.

The billionaire is also the richest black man in South Africa.

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Patrice Motsepe’s net worth affords him the house of his dreams, and he is the owner of multiple homes across South Africa’s affluent regions.

In 2014, Motsepe bought a palatial house in Bishops Court, Cape Town, for a staggering R69 million. 

The six bed-room mansion sits on 12000 square meters of land and has a tennis court, massive swimming pool, and a pavilion, just to name a few features.

Motsepe has a taste for expensive toys, and luckily for him, he can afford to buy them.

Some of the sleek drives that the billionaire reportedly owns include a BMW 760 Li- over, a Mercedes Benz S65 AMG, and a Bentley Continental GT, all of which cost millions.

Read also: Best Celebrity cars in South Africa.

Along with driving expensive machines, Patrice Motsepe also owns a private jet, which he once flew in the company of American rapper 50 Cent. 

The Hawker 4000 is said to have cost the billionaire $20 million, but that is nothing compared to his net worth.