Find out what Patrice Motsepe’s net worth is here. Image via Instagram @realmotsepe
Five things to know about Patrice Motsepe: Net worth, assets, more
Patrice Motsepe’s net worth has undoubtedly thrust him amongst some of the wealthiest in South Africa. Here are five things to know about him.
Find out what Patrice Motsepe’s net worth is here. Image via Instagram @realmotsepe
Multi-billionaire Patrice Motsepe has made headlines recently for allegedly having an affair with South African actress Katlego Danke and was said to have also had two children with him, MDN News reported. Here are five things to know about the South African tycoon.
FIVE THINGS TO KNOW ABOUT PATRICE MOTSEPE
A QUICK LOOK AT PATRICE MOTSEPE’S BIOGRAPHY
- Full name: Patrice Tlhopane Motsepe
- Date of birth: 28 January 1962
- Birthplace: Ga-Rankuwa, Pretoria
- Nationality: South African
- Marital Status: Married
- Spouse: Precious Moloi-Motsepe
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1. MOTSEPE’S NET WORTH
According to Forbes, Motsepe’s net worth is currently R2.7 billion.
2. MOTSEPE’S FAMILY
He is said to be a mining magnate born into a family of two sisters, Tsepho (who is married to President Cyril Ramaphosa) and Bridgette Radebe.
His father, Kgosi Augustine, was said to have been an entrepreneur, and a school teacher, who later served as the chief of the Mmakau branch of the Tswana people.
Motsepe married Precious in 1989 and had three children Thlopie, Kgosi, and Kabelo.
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3. CAREER
He is said to have ventured into mining in 1997 when gold prices dropped, and had acquired his business skills from working at his father’s spaza shop. He was said to have grabbed the opportunity and purchased marginal gold mines from AngloGold.
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AngloGold was said to have made a deal with Motsepe to pay off his debt from future profits. The deal was said to have made Motsepe the new owner of six gold mine shafts at R7.7 million.
Motsepe is reportedly a Non-Executive Director at Absa Group and Sanlam and has been since 2004. He is also the Confederation of African Football (CAF) President.
Among several other partnerships and companies, Motsepe reportedly owns 55% of Ubuntu-Botho Investments, an insurance and investment service company.
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4. HOUSE
According to Zalebs, Motsepe lives in an R69 million home in Cape Town. The mansion was said to have initially been listed for about R98 million.
Motsepe reportedly spends an extra R30 000 to maintain the mansion.
He was also said to have bought 20 per cent of the shares at Val de Vie estate through his company- African Rainbow Capital (ARC).
The estate has an equestrian farm, golf courses, restaurants, wineries and wellness centres.
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5. PRIVATE JET
Motsepe travels in class. He reportedly owns a private jet that cost him around $20 million (R372 million).
The multibillionaire is said to own a fleet of luxury vehicles, including a BMW 760 Li, a Bentley Continental GT, and a Mercedes Benz S65 AMG, to name a few.
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