Mzansi Celebs

All you need to know about Mzansi’s richest Man Patrice Motsepe

Multi-billionaire Patrice Motsepe has made headlines recently for allegedly rumoured to be having an affair with South African actress Katlego Danke and was said to have also barred her two children, MDN News reported. Here are five things to know about the South African tycoon.

Patrice Motsepe

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

According to Forbes, Motsepe’s net worth is currently R2.7 billion.

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.

Patrice Motsepe

Motsepe reportedly had a good education that later offered him the opportunity to have a promising career path in Cape Town afterwards.

He is said to have ventured into mining in 1997 when gold price dropped, and Motsepehe, who had acquired business skills from working at his father’s spaza shop, grabbed the opportunity and purchased marginal gold mines from AngloGold.

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.

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.

Motsepe was said to have bought 20 per cent of the shares at Val de Vie estate through his company- African Rainbow Capital (ARC).

The estate is reportedly located in Paarl-Franschhoek Valley, Western Cape and comprises of equestrian farms, golf courses, restaurants, wineries and wellness centres.
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.

Source: News365

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