Patrice Motsepe
Patrice Motsepe | |
|---|---|
| Born | Patrice Tlhopane Motsepe January 28, 1962 South Africa |
| Occupation(s) | Entrepreneur, football executive |
| Years active | 1994–present |
| Known for | President of the Confederation of African Football, executive chairman of African Rainbow Minerals, owner of Mamelodi Sundowns F.C. |
Patrice Tlhopane Motsepe (born 28 January 1962) is a prominent South African billionaire entrepreneur and football executive. He is the son of Kgosi Augustine Motsepe, who leads the Mmakau faction of the Tswana people. Since March 2021, Motsepe has held the position of president at the Confederation of African Football.
Motsepe established and serves as executive chairman of African Rainbow Minerals, a company with diverse holdings in gold, ferrous metals, base metals, and platinum sectors. He occupies significant roles on multiple boards, including non-executive chairman of Harmony Gold, ranked as the world’s twelfth largest gold mining firm, and deputy chairman at Sanlam. Furthermore, he is a member of the Board of Trustees for the World Economic Forum.
In 2003, Motsepe took ownership of the football club Mamelodi Sundowns. A decade later, in 2013, he pledged to donate half of his fortune to philanthropy by joining The Giving Pledge.
As of January 2024, CNBC Africa positioned him as Africa’s ninth wealthiest individual and South Africa’s third richest after Johan Rupert and Nicky Oppenheimer, with an estimated net worth of $2.7 billion. By May 2024, Forbes ranked him 1,175th globally with a net worth of US$2.9 billion.
Early life and education
Born to Kgosi Augustine Butana Chaane Motsepe, chief of the Mmakau branch among the Tswana people, Patrice Motsepe grew up in a household where his father transitioned from teaching to running a small business—a Spaza shop patronized by miners. This setting provided Motsepe with early exposure to commerce and mining industries.
He completed a Bachelor of Arts degree at the University of Swaziland followed by a law degree at the University of the Witwatersrand, focusing on specialties in mining and business law.
Career
In 1994, coinciding with Nelson Mandela’s inauguration as South Africa’s first black president, Motsepe became the first black partner at law firm Bowman Gilfillan. Leveraging the new government’s Black Economic Empowerment initiatives encouraging entrepreneurship, he founded Future Mining—a contract mining company offering services such as gold dust recovery at Vaal Reefs Gold mine. His compensation model combined modest base pay with profit-sharing incentives.
Mining
During 1997, when gold prices were depressed, Motsepe purchased underperforming gold mines from AngloGold through advantageous financing arrangements. He acquired six shafts for $7.7 million, structuring repayment based on future revenues. This acquisition laid the foundation for what evolved into African Rainbow Minerals.
Continuing this strategy, in 1999 Motsepe and partners formed Greene and Partners Investments to acquire operational mines that contributed significantly to his wealth accumulation. The Black Economic Empowerment legislation enacted after 1994 mandated that mining licenses include at least 26% black ownership, which bolstered his industry standing.
Since 2004, Motsepe has held non-executive directorships at both Absa Group and Sanlam. In 2002, African Rainbow Minerals went public on the JSE Security Exchange, forming a partnership with Harmony Gold Mining Ltd and rebranding as ARMgold. He also founded African Rainbow Minerals Platinum (Proprietary) Limited along with ARM Consortium Limited; these entities later entered into equal ownership agreements with Anglo American Platinum Corp Ltd.
From 2005 onward, Motsepe chaired Teal Exploration and Mining Incorporated and currently leads Ubuntu-Botho Investments. He holds the role of Non-Executive chairman at Harmony Gold Mining Co Ltd and serves as deputy chairman of Sanlam Ltd. Additionally, he has presided over South Africa’s Chamber of Commerce and Industry.
Finance
Motsepe established Ubuntu-Botho Investments (UBI) in 2003, maintaining a 55% ownership stake by 2019. A year later, in 2004, UBI entered into a Black Economic Empowerment (BEE) agreement with Sanlam, which concluded in 2014 following the settlement of associated debts. Upon completion, UBI retained a 13.5% equity share and controlled 18.1% of Sanlam's voting power. Subsequently, UBI initiated African Rainbow Capital (ARC), under the leadership of Johan van Zyl, a former Sanlam executive. ARC's portfolio includes holdings in over 40 enterprises such as TymeBank, Afrimat, BKB, Rain, Val de Vie estate, and a minority position in Alexander Forbes.
Renewable energy investments
In response to South Africa’s electricity supply challenges, Motsepe ventured into the renewable energy sector in 2024. He supported GoSolr, a firm specializing in solar panel and battery rentals tailored for residential use. This initiative is a collaboration between African Rainbow Capital Investments Ltd. and Standard Bank Group Ltd., with a commitment to invest approximately 10 billion Rands (around $537 million). The goal is to expand solar energy capacity from 70 MW to nearly 500 MW within a four-year timeframe.
Sport
Motsepe acquired Mamelodi Sundowns F.C. through two transactions: initially purchasing 51% in 2003 and acquiring the remaining 49% in 2004. Although the club experienced a slow start under his ownership, since the 2017–18 season Sundowns have consistently dominated South African football by securing the Premiership title every year through 2025.
In November 2019, he procured a 37% shareholding in Blue Bulls Co., joining other principal investors Remgro (37%) and Blue Bulls Rugby Union (26%).
Motsepe declared his candidacy for the Confederation of African Football (CAF) presidency in November 2020 and was elected unopposed on March 12, 2021, after rival contenders withdrew amid claims of FIFA endorsement. Following his election as CAF president, his son Thlopie Motsepe assumed the chairmanship of Mamelodi Sundowns. On March 12, 2025, he was re-elected as CAF president during the organization’s 14th extraordinary general assembly.
Advocacy
In 2011, Motsepe took on the role of interim chairman for the Black Business Council and is recognized as a founding member and former president of Business Unity South Africa (BUSA), one of the country’s foremost business advocacy and lobbying bodies.
Recognition
In 2002, Motsepe received South Africa’s Best Entrepreneur Award. Two years later, in 2004, he was placed 39th on the South African Broadcasting Corporation’s list of Great South Africans. Forbes ranked him as the world’s 503rd wealthiest individual in 2008; by 2019 he was positioned at number 962 globally and was identified as South Africa’s third-richest person.
Forbes also included him among the “100 Greatest Living Business Minds” in its centennial issue published in 2017. As of 2020, his net worth was estimated at US$2.1 billion, placing him at number 1,307 on the list of the world’s wealthiest individuals.
Donald Trump
During the World Economic Forum held in Davos in January 2020, Motsepe expressed to former US President Donald Trump that "Africa loves him." This statement sparked significant backlash across Africa, prompting Motsepe to issue an apology clarifying that these remarks reflected only his personal opinion.
Mamelodi Sundowns
In April 2025, the Confederation of African Football (CAF) imposed a $100,000 fine on Mamelodi Sundowns following violent altercations among fans during a CAF Champions League quarterfinal match against Tunisia’s Esperance in Pretoria. The club, owned by Patrice Motsepe, was found responsible for violating CAF’s safety and security standards. The disciplinary decision issued on April 18, 2025 required strict compliance with CAF safety protocols for all future fixtures. Esperance was also fined $150,000 for their involvement. Sundowns progressed to the semifinals and were among four African clubs qualifying for the 2025 FIFA Club World Cup hosted by the United States.
Personal life
Motsepe is wed to doctor and fashion industry leader Precious Moloi-Motsepe. Together, they are parents to three offspring. He is sibling to Tshepo Motsepe and Bridgette Radebe, and through marriage, is related to South African President Cyril Ramaphosa as well as Minister Jeff Radebe.