Haibo he is filthy rich: A look at South Africa’s Billionaire Patrice Motsepe Cars, Jets and Mansions and Net Worth
No doubt he has the plug and his style is out of this world. Almost all South Africans know who Patrice Motsepe is – he is everyone’s favourite billionaire. From bringing Messi to Mzansi to bettering the lives of citizens, Motsepe has used his wealth for good.
Early Life
The SA billionaire was born on 28 January 1962, to Kgosi Augustine Motsepe. Kgosi was a former teacher and chief of the Mmakau branch. However, he later became the owner of a Spaza shop which was a hit with black mineworkers. According to Wikipedia, Motsepe learned business skills from his dad. It was also at his father’s shop where Motsepe got exposure to mining.
Academic Qualifications
Despite being a business mogul and a billionaire Motsepe only have two qualifications. As surprising as it is Motsepe has a Bachelor of Arts degree from the University of Swaziland and a law degree from the University of the Witwatersrand – where he specialised in mining and business law.
The first black man to own a mining company in South Africa
In 1997, gold prices hit rock bottom and it enabled Motsepe to buy six gold mine shafts from AngloGold for $7.7 million. As part of the deal, he was able to pay off the mines with money his company, now called African Rainbow Minerals, earned. African Rainbow Minerals was the first black-owned mining company in South Africa.
However, all his hard work led to Motsepe being named South Africa’s wealthiest man in 2012, with a fortune consisting of $2.4 billion. As of 2021, according to Statista, Motsepe is the 3rd richest man in the country with a nett worth of $2.9 billion, which is about R41.4 billion.
R69 million mansion in Cape Town
Motsepe bought an R69 million mansion in Cape Town in 2014, and just a year later, he bought land for R30 million in one of Cape Town’s property hot spots.
Haibo he is filthy rich: A look at South Africa’s Billionaire Patrice Motsepe Cars, Jets and Mansions and Net Worth
A fleet of exotic cars
Motsepe also has great taste in cars. He reportedly owns a collection of a 2007 BMW 750 iL, Mercedes Benz S65 AMG, a Bentley Continental GT and the BMW 760 Li. Collectively those cars cost over R12 million: Bentley Continental GT- R3.373 million Mercedes Benz S65 AMG R3.2 million 2007 BMW 750 iL- R1.315 million BMW 760 Li- over R4 million.
Private Jet
The 59-year-old mining magnate has his own plane, which he once shared with rapper 50 cents. According to Buzz South Africa, the jet is a Hawker 4000 with a price tag of over $20 million.
Net Worth
Holdings: African Rainbow Minerals, Sanlam, African Rainbow Capital Investments.
Motsepe is South Africa’s first black billionaire. He is a mining magnate, the founder of African Rainbow Minerals. He also owns the soccer team Mamelodi Sundowns.
According to the publication, Motsepe owns 46 per cent of the ARM company – a shareholding worth $1.7bn. He has a 7.8 per cent stake in financial services giant Sanlam and 27 per cent of African Rainbow Capital Investments.