Patrice Motsepe: Five things to know about the multi-billionaire

Patrice Motsepe’s net worth has thrust him among some of the wealthiest South Africans. Here are five things to know about him.

Multi-billionaire Patrice Motsepe made headlines recently for allegedly having an affair with South African actress Katlego Danke, MDN News reported.

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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MOTSEPE’S NET WORTH

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

MOTSEPE’S FAMILY

He is a mining magnate and has two sisters, Tsepho (who is married to President Cyril Ramaphosa) and Bridgette Radebe.

His father, Kgosi Augustine, was 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 the couple have three children Thlopie, Kgosi, and Kabelo.

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CAREER

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

AngloGold was said to have made a deal with Motsepe to pay off his debt from future profits.

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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HOUSE

According to Zalebs, Motsepe lives in an R69 million home in the Western Cape. The mansion was said to have initially been listed for about R98 million.

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

The estate is located in Paarl-Franschhoek Valley in the Western Cape.

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PRIVATE JET

Motsepe travels in class. He reportedly owns a private jet that cost him around $20 million (R372 million).

The multi-billionaire 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 but a few.

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