Patrice Motsepe facts for kids
Quick facts for kids
Patrice Motsepe
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Motsepe in 2009
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| 7th President of CAF | |
| Assumed office 12 March 2021 |
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| Preceded by | Ahmad Ahmad |
| Personal details | |
| Born |
Patrice Tlhopane Motsepe
28 January 1962 Orlando West, Soweto, Johannesburg. |
| Spouse |
Precious Moloi
(m. 1989) |
| Children | 3 |
| Relatives | Tshepo Motsepe (sister) Bridgette Radebe (sister) Cyril Ramaphosa (brother-in-law) Jeff Radebe (brother-in-law) |
| Alma mater | University of Swaziland University of the Witwatersrand |
| Occupation | Philanthropist, Advocate |
| Known for | Founder, African Rainbow Minerals |
Patrice Tlhopane Motsepe (born 28 January 1962) is a well-known South African businessman and football leader. He is also a billionaire. Since March 2021, he has been the president of the Confederation of African Football (CAF). This is a big job in African football!
Patrice Motsepe started a company called African Rainbow Minerals. This company works with important metals like gold, iron, and platinum. He also helps lead other big companies, including Harmony Gold, which is one of the world's largest gold mining companies.
In 2003, he became the owner of the famous football club Mamelodi Sundowns. He is also part of "The Giving Pledge." This means he has promised to give away half of his money to help others. In 2024, Forbes magazine said he was one of the wealthiest people in the world.
Contents
Early Life and Learning
Patrice Motsepe was born in Orlando West, Soweto, in Johannesburg. His father, Kgosi Augustine Motsepe, was a chief of the Mmakau branch of the Tswana people. His father used to be a teacher and later owned a small shop called a Spaza shop. This shop was popular with mine workers.
Patrice learned a lot about business from his father's shop. He also saw how mining worked up close. He went to the University of Swaziland and earned a degree. Then, he studied law at the University of the Witwatersrand. He focused on laws about mining and business.
His Career Journey
In 1994, Patrice Motsepe made history. He became the first black partner in a law firm called Bowman Gilfillan. This was the same year Nelson Mandela became South Africa's first black president. At this time, the government wanted to help black people start businesses.
Patrice started his own company, Future Mining. This company offered services to mines, like cleaning gold dust from shafts. He also created a system where workers earned a basic salary plus a bonus if the company made a profit.
Working in Mining
In 1997, when gold prices were low, Patrice bought some gold mines from a company called AngloGold. He got good deals that let him pay back the money from the mines' future earnings. This company later became African Rainbow Minerals.
He kept making similar deals and built his wealth by buying operating mines. In 1999, he joined with two friends to form Greene and Partners Investments. Laws in South Africa, called Black Economic Empowerment (BEE) laws, helped his position in mining. These laws require that a business must have at least 26% black ownership to get a mining license.
Since 2004, Motsepe has been a director at Absa Group and Sanlam. In 2002, his company, African Rainbow Minerals, joined with Harmony Gold Mining Ltd. The company's name changed to ARMgold. He also founded other mining companies like African Rainbow Minerals Platinum.
Work in Finance
In 2003, Motsepe started Ubuntu-Botho Investments (UBI). In 2004, UBI made a deal with Sanlam, an insurance and financial company. This deal helped UBI grow. By 2014, UBI owned a significant part of Sanlam.
UBI then started African Rainbow Capital (ARC). ARC has investments in many companies. These include TymeBank, a digital bank, and companies in farming, telecommunications, and property.
Investing in Green Energy
In 2024, Patrice Motsepe started investing in renewable energy. This helps South Africa with its energy problems. He supported a company called GoSolr. This company rents solar panels and batteries to homes.
GoSolr plans to invest a lot of money to produce more solar power. They want to increase their power production from 70 megawatts to about 500 megawatts in four years.
His Role in Sport
Patrice Motsepe owns Mamelodi Sundowns F.C., a top football club in South Africa. In 2019, he also bought a part of the Blue Bulls Co., a rugby team.
In November 2020, Motsepe announced he wanted to become the president of CAF. He was elected on 12 March 2021. After he became CAF president, his son, Thlopie Motsepe, took over as the new chairman of Mamelodi Sundowns.
Helping Others
In 2011, he was named the temporary chairman of the Black Business Council. He is also a founding member and former president of Business Unity SA (BUSA). This group helps businesses in South Africa.
Awards and Recognition
In 2002, Patrice Motsepe won South Africa's Best Entrepreneur Award. In 2004, he was voted among the Great South Africans.
Forbes magazine has often listed him as one of the world's wealthiest people. In 2017, Forbes honored him as one of the "100 Greatest Living Business Minds" in the world.
Personal Life
Patrice Motsepe is married to Dr. Precious Moloi-Motsepe. She is a doctor and also works in fashion. They have three children.
His sister, Tshepo Motsepe, is married to the current President, Cyril Ramaphosa. Another sister, Bridgette Radebe, is married to Minister Jeff Radebe.
See also
In Spanish: Patrice Motsepe para niños
