Early Life
Patrice Tlhopane Motsepe was born on January 28, 1962, in Ga-Rankuwa, a township near Pretoria, South Africa. His father, Kgosi Augustine Motsepe, was a chief of the Mmakau branch of the Tswana people and a successful businessman, owning a shop that exposed Patrice to the business world from a young age. Motsepe attended a Roman Catholic boarding school and later earned a Bachelor of Arts degree from the University of Swaziland and a law degree from the University of the Witwatersrand.
Rise to Success
Motsepe began his career as a lawyer, becoming the first black partner at the law firm Bowman Gilfillan in 1994. However, he soon saw an opportunity in the mining industry. In 1997, he founded Future Mining, a mining services company. That same year, Motsepe acquired marginal gold mines from AngloGold, forming African Rainbow Minerals (ARM). Leveraging South Africa's Black Economic Empowerment (BEE) laws, which required companies to have a minimum black ownership, Motsepe built ARM into a significant mining enterprise. The company expanded, merging with Harmony Gold and acquiring Anglovaal Mining's unproductive mines in 2003. Motsepe became the executive chairman of ARM, a position he still holds. In 2008, he became the first black African to appear on the Forbes Billionaires List.
Key Business Strategies
Motsepe's success stems from several key strategies. He identified and acquired underperforming mining assets, applying efficient management techniques to turn them profitable. He benefited from BEE policies, which facilitated his entry into the mining sector. Further, Motsepe has diversified his business interests, including investments in financial services through Sanlam and in telecommunications via Rain. He is also the president of the Mamelodi Sundowns Football Club.
Philanthropy
Motsepe is deeply committed to philanthropy. In 2013, he joined The Giving Pledge, committing to donate at least half of his wealth to charitable causes. He established the Motsepe Foundation in 1999 to address poverty and unemployment in South Africa. Motsepe's philanthropic efforts include supporting education, healthcare, and various community development initiatives.