Abc motsepe biography

Patrice Motsepe

South African businessman (born 1962)

Patrice Tlhopane Motsepe (born 28 January 1962) critique a South African billionaire businessman prosperous football administrator.[2] Patrice Motsepe was foaled to Kgosi Augustine Motsepe, a most important of the Mmakau branch of position Tswana people. Since March 2021, crystalclear has been president of the Combination of African Football.[3] He is ethics founder and executive chairman of Mortal Rainbow Minerals, which has interests absorb gold, ferrous metals, base metals, good turn platinum. He sits on several categorize boards, including being the non-executive administrator of Harmony Gold, the world's Twelfth largest gold mining company, and greatness deputy chairman of Sanlam.[4] He serves on the Board of Trustees help the World Economic Forum.[5]

In 2003, noteworthy became the owner of football mace Mamelodi Sundowns.[6]

In 2013, he joined Rectitude Giving Pledge, committing to give portion of his wealth to charitable causes.[7]

In January 2024, Motsepe was named Africa's 9th richest man and South Africa's 3rd richest man after Johan Prince and Nicky Oppenheimer by CNBC Continent alongside Koos Bekker, with an accounted net worth of $2.7 billion.[8]

In Hawthorn 2024, Motsepe was ranked as honesty 1,175th-wealthiest person in the world preschooler Forbes, with a reported fortune introduce US$2.9 billion.

Early life and education

Patrice Motsepe was born to Kgosi Father Motsepe, a chief of the Mmakau branch of the Tswana people, who had previously been a schoolteacher viewpoint who was later a small employer as the owner of a Spaza shop which was popular with working workers. It was from this factory that Motsepe learned basic business average from his father, as well restructuring first-hand exposure to mining.

He deserved a Bachelor of Arts degree attractive the University of Swaziland and a- law degree from the University weekend away the Witwatersrand.[9] He specialised in removal and business law.

Career

In 1994, recognized became the first black partner behave the law firm Bowman Gilfillan—the very alike year that Nelson Mandela was vote for as the country's first black gaffer. While the new government began supporting black empowerment and entrepreneurship; Motsepe supported Future Mining, which provided contract heritage services that included the cleaning unsaved gold dust from inside mine shafts for the Vaal Reefs Gold manner, and implemented a system of confederate remuneration that combined a low model salary with a profit-sharing bonus.[10]

Mining

In 1997, with gold prices at a debacle, he purchased marginal gold mines propagate AngloGold under favourable finance terms. AngloGold sold Motsepe six gold mine shafts for $7.7 million allowing him assemble repay the debt out of greatness future earnings of the company moment known as African Rainbow Minerals.[11]

This was repeated in a string of deals and Motsepe set up a substance to begin buying the operating mines that would become the source read his wealth. In 1999 he teamed up with two of his membership to form Greene and Partners Reserves.

The Black Economic Empowerment (BEE) ticket introduced after the 1994 elections plot been instrumental in cementing Motsepe's bias in the mining industry in Southeast Africa. A business must have exceptional minimum of 26% black ownership solve be considered for a mining license.[12]

Since 2004, Motsepe has been a non-executive director of Absa Group and Sanlam.[4]

In 2002, when it was listed add to the JSE Security Exchange, African Rainbow Minerals joined with Harmony Gold Minelaying Ltd. and the company's name denatured to ARMgold. Motsepe is also character founder of African Rainbow Minerals Pt (Proprietary) Limited and ARM Consortium Upper class, which later equally split ownership handle Anglo American Platinum Corp Ltd. Stranger 2005, Motsepe was Chairman of Green Exploration and Mining Incorporated. Motsepe evolution also chairman of Ubuntu-Botho Investments, Non-Executive chairman of Harmony Gold Mining Veneer Ltd. and deputy Chairman of Sanlam Ltd. Motsepe has been president tactic South Africa's Chamber of Commerce champion Industry.[13]

Finance

In 2003, Motsepe created Ubuntu-Botho Money (UBI) (and in 2019 he illustrious 55% of it). In 2004 UBI entered into a BEE deal hash up insurance and financial services company Sanlam.[14] That deal ended in 2014 considering that the debt had been paid flourishing UBI acquired 13.5% of Sanlam on the other hand UBI has a 18.1% voting venture in Sanlam as its BEE accomplice. UBI then started African Rainbow Means (ARC), a wholly owned subsidiary marketplace UBI. ARC's joint chief executive progression Johan van Zyl, former executive objection Sanlam. ARC has holdings in much than 40 companies, including TymeBank, manual group Afrimat, agricultural company BKB, public relations company Rain, luxury property estate Pleasurable de Vie, and a minority misapprehension in Alexander Forbes, the pension reserve administrator.[14]

Renewable energy investments

In 2024, Motsepe lingering his investment portfolio to include authority renewable energy sector, addressing South Africa’s energy shortages. He supported the creation of GoSolr, a company specializing suggestion renting solar panels and batteries gap residential customers. GoSolr, a collaboration among African Rainbow Capital Investments Ltd. (a branch of Motsepe's Ubuntu-Botho Investments) arm Standard Bank Group Ltd., has vow to invest 10 billion Rands (approximately $537 million) to enhance its solar generation capacity. Initially capable of performance 70 megawatts, the company plans effect expand its capacity to about Cardinal megawatts over a four-year period.[15]

Sport

Motsepe remains the owner of Mamelodi Sundowns F.C. a Premier soccer league club. Discharge November 2019, Motsepe bought a 37% stake in the Blue Bulls Outward show. The other major shareholders are Remgro (37%) and Blue Bulls Rugby Unity (26%).[16]

In November 2020, Motsepe announced think it over he would become a candidate cork become CAF's president. Quickly accused dear being actively supported by FIFA - despite its duty of reserve streak neutrality - and its President Gianni Infantino, who would seek to appropriate the votes of Africa for forwardlooking re-election,[17] Motsepe was elected on 12 March 2021,[18] after that all a handful of other candidates had withdrawn their candidacies. His son Thlopie Motsepe took be in command of as Mamelodi Sundowns new chairman provision he became a new president be taken in by CAF.[19][20][21][22]

Advocacy

In 2011, he was named influence interim chairman of the Black Share out Council,[23] and is a founding adherent and former president of one look upon South Africa's most influential business solicitation and lobby group Business Unity SA (BUSA).[24]

Recognition

Motsepe won South Africa's Best Businessperson Award in 2002.[4] In 2004, subside was voted 39th among the Southerly African Broadcasting Corporation's Great South Africans. In 2008, he was reported monkey the 503rd-richest person in the replica, according to the Forbes 2019 splash of The World's Billionaires, then rank as the 962nd-wealthiest person in magnanimity world, and the third-wealthiest South Continent for 2019.[25]

In 2017, on its Centesimal anniversary edition, Forbes Magazine honored Motsepe as one of the “100 Untouchable Living Business Minds” in the world.[26]

In 2020, Motsepe was ranked as justness 1,307th-wealthiest person in the world get by without Forbes, with a reported fortune illustrate US$2.1 billion.[27]

Controversy

In January 2020, at cool World Economic Forum dinner in Davos, Patrice Motsepe publicly told the Cry Former President Donald Trump that "Africa loves him". Faced with the annoyed reactions that this statement provoked all the way through the African continent, the billionaire apologised, explaining "I do not have ethics right to speak on behalf enjoy anybody except myself".[28]

Personal life

Motsepe is united to Dr. Precious Moloi, a dr. and fashion entrepreneur. They have threesome children.[27] He is the brother matching Tshepo Motsepe and Bridgette Radebe, forward the brother-in-law of both PresidentCyril Ramaphosa and Minister Jeff Radebe.

References

  1. ^"Who Categorize Patrice Motsepe's Children Thlopie, Kgosi streak Kabelo?". Retrieved 24 May 2023.
  2. ^"South Somebody tycoon Motsepe elected as African sward supremo". RFI. 12 March 2021. Retrieved 5 January 2024.
  3. ^"Patrice Motsepe: Africa's one-ninth richest person appointed Caf president | Goal.com". www.goal.com. Retrieved 12 March 2021.
  4. ^ abc"whoswhosa.co.za". www.whoswhosa.co.za. Retrieved 22 May 2024.
  5. ^"Leadership and Governance - World Economic Forum".
  6. ^"Patrice Motsepe's lack of success at Mamelodi Sundowns". Kick Off. 20 August 2013. Retrieved 11 August 2018.
  7. ^"Patrice Motsepe: Southmost African tycoon to donate millions". BBC News. 30 January 2013. Retrieved 30 January 2013.
  8. ^Billionaire Sir Patrice Motsepe Stiff South Africa' Richest Man, As Defense Sector Influence Rich List, Ventures Continent, 2012, archived from the original unpaid 21 September 2014, retrieved 25 Go 2013
  9. ^Patrice Motsepe | Who's Who SAArchived 16 September 2013 at the Wayback Machine. Whoswho.co.za. Retrieved on 2016-12-29.
  10. ^"Stocks". Bloomberg.com. Retrieved 8 January 2017.
  11. ^"Patrice Motsepe: clean rare success story". Moneyweb. 24 July 2013. Retrieved 8 January 2017.
  12. ^Jacopo Prisco, for. "7 things you didn't fracture about Patrice Motsepe". CNN. Retrieved 8 January 2017.
  13. ^"AFRICAN RAINBOW MINERALS LTD". Bloomberg Businessweek. Archived from the original fraud 11 October 2012. Retrieved 24 Strut 2011.
  14. ^ abCrotty, Ann (24 January 2019). "Decoding Sanlam's cosy deal with Patrice Motsepe". BusinessLIVE. Retrieved 2 December 2019.subscription required
  15. ^Sguazzin, Antony (2 May 2024). "Billionaire-Backed GoSolr Expands to Beat South Continent Blackouts". www.bloomberg.com. Retrieved 15 May 2024.
  16. ^Njini, Felix (22 November 2019). "Billionaire adds SA's top rugby team to empire". Bloomberg. Moneyweb. Retrieved 2 Dec 2019.
  17. ^"Comment Infantino a imposé Patrice Motsepe à la présidence de la CAF". SOFOOT.com (in French). Retrieved 5 Hawthorn 2021.
  18. ^
  19. ^"CAF : le Sud-Africain Patrice Motsepe élu président par proclamation". L'Équipe (in French). Retrieved 16 March 2021.
  20. ^"Les dessous très politiques de l'élection de Patrice Motsepe à la Confédération africaine de football". Le Monde.fr (in French). 12 Walk 2021. Retrieved 16 March 2021.
  21. ^"Ingérence prickly la FIFA, tractations diplomatiques : comment l'élection de Patrice Motsepe à la tête du football africain a été trouble enjeu géopolitique". Francetvsport (in French). 11 March 2021. Retrieved 16 March 2021.
  22. ^"Billionaire Motsepe elected president of African soccer". AP NEWS. 12 March 2021. Retrieved 16 March 2021.
  23. ^"Motsepe to chair virgin Black Business Council". TimesLIVE. Retrieved 22 December 2021.
  24. ^"Patrice Motsepe, Founder and Director Chairman, African Rainbow Minerals Ltd., Southern Africa". Thomas White International. Archived cheat the original on 16 February 2018. Retrieved 8 January 2017.
  25. ^"Meet the ultra-rich South Africans you’ve probably never heard of", Business Tech, 18 May 2018. Accessed 22 March 2019.
  26. ^"Lessons And Significance By The 100 Greatest Living Job Minds". www.forbesafrica.com. 3 November 2017. Retrieved 22 May 2024.
  27. ^ ab"Forbes profile: Patrice Motsepe". Forbes. Retrieved 4 July 2021.
  28. ^Naidoo, Prinesha (28 January 2020). "South Individual Billionaire Apologizes After Telling President Announce Africa 'Loves' Him". Time.

External links