Patrice Motsepe South Africa’s first black billionaire
Patrice Motsepe is seen as a self-made, principled, and compassionate leader-admired for his business acumen, philanthropic impact, and unwavering dedication to uplifting his community and continent.
Patrice Tlhopane Motsepe is a South African billionaire businessman, mining magnate and philanthropist. He is also the president of Confederation of African Football.
He was born in January 28, 1962, in Soweto, Johannesburg, South Africa. His father is Kgosi Augustine Motsepe, a chief of the Mmakau branch of the Tswana people. He is married to Dr. Precious Moloi, with whom he has three children. Motsepe is the brother in law of South African President Cyril Ramaphosa.
Patrice Motsepe attended a Roman Catholic boarding school in the Eastern Cape for his early education. He would then earn a Bachelor of Arts degree from the University of Swaziland and later obtained a law degree (LLB) from the University of the Witwatersrand in Johannesburg, specializing in mining and business law.
CAREER
Motsepe began his career as a lawyer, becoming the first black partner at Bowman Gilfillan in 1994.
In 1997, he shifted to mining founding Future Mining and later African Rainbow Minerals (ARM )which has interests in gold, base metals, and platinum. He made strategic acquisitions of gold mines from AngloGold during a period of low gold prices, which became the foundation of his wealth.
Moreover, Patrice sits on several company boards, including being the non-executive chairman of Harmony Gold, the world’s 12th largest gold mining company, and the deputy chairman of Sanlam. He also serves on the Board of Trustees of the World Economic Forum.
Motsepe is known for his love of sport. In 2003,Motsepe acquired Mamelodi Sundowns F.C., a leading South African football club, and later bought a stake in the Blue Bulls rugby franchise. Since March 2021, he has served as President of the Confederation of African Football (CAF), and was re-elected in March 2025.
WEALTH AND NET WORTH
As of May 2024, Forbes estimated his net worth at $2.9 billion, ranking him as Africa’s 9th richest and South Africa’s 3rd richest person. He was the first black African to appear on the Forbes billionaire list in 2008.
Over the years, Motsepe has eceived numerous accolades including South Africa’s Best Entrepreneur Award (2002) and being named one of Forbes’ “100 Greatest Living Business Minds” in 2017.
PHILANTROPY
Motsepe is renowned for his philanthropy. In 2013, he joined The Giving Pledge, committing to donate at least half his wealth to charitable causes.By 2019, the Motsepe family had donated over $500 million to various causes. During the COVID-19 pandemic, he pledged about $57 million to support relief efforts in South Africa and Africa.
OTHER VENTURES
He has played a significant role in business advocacy, serving as interim chairman of the Black Business Council and as a founding member and former president of Business Unity South Africa.
In 2025, there was speculation and lobbying within the African National Congress (ANC) for Motsepe to run for party president at its 2027 conference, though he has not been active in politics.
CONTROVERSIES
In January 2020, Motsepe faced backlash for publicly telling curent -US President Donald Trump that “Africa loves him,” later apologizing for speaking on behalf of the continent. In April 2025, his club Mamelodi Sundowns was fined by CAF after violent fan clashes during a Champions League match.
Patrice Motsepe is seen as a self-made, principled, and compassionate leader-admired for his business acumen, philanthropic impact, and unwavering dedication to uplifting his community and continent.
