Patrice Motsepe, Africa’s first Black billionaire, has seen a stunning growth in his net worth over the last ten days, totaling $200 million. This increase takes his overall worth to $2.6 billion, after a previous drop to $2.4 billion earlier this month.
Motsepe’s riches has increased due to the performance of his 45.9 percent investment in African Rainbow Minerals (ARM). ARM, a prominent player in South Africa’s mining sector, has seen its shares rise on the Johannesburg Stock Exchange (JSE), gaining almost 24 percent in just five days. The stock had risen from R161.7 (USD 8.58) to R201.58 (USD 10.7) at the time of writing.
Investors have reacted positively to ARM’s strategic entrance into the North American copper market, resulting in a recent share rise. ARM’s acquisition of a 15% stake in Surge Copper, a Toronto-listed exploration firm, hopes to capitalize on the growing demand for copper as the world shifts toward clean energy solutions.
Patrice Motsepe’s shareholding in ARM has increased from R14.54 billion ($771.04 million) on April 8 to R18.12 billion ($961.2 million) as of this report’s drafting date.
Motsepe, who became Africa’s first black billionaire in 2008, has cemented his place among the continent’s wealthiest people. With a net worth of $2.6 billion, he is now ranked 1,274th on Forbes’ list of billionaires, making him the richest Black individual in Southern Africa.
In addition to his mining operations, Patrice Motsepe maintains an indirect 7.8-percent share in Sanlam, Africa’s top insurer, through his investment vehicle, Ubuntu-Botho Investments. He also serves as the deputy chairman of the South African insurance company.
He has been actively looking for chances in various fields.His recent involvement in discussions with Canal+, Vivendi’s media unit, indicates an interest in broadening his assets. If this arrangement is effective, Motsepe might join the ownership ranks of MultiChoice Group, boosting his influence across South Africa’s biggest businesses.
Motsepe’s investment in TymeBank, a digital bank that recently reported its first profit, demonstrates his dedication to supporting innovation and growth in Africa’s financial sector.
With conversations still underway and no agreement reached, the proposed cooperation between Motsepe and Canal+ has huge ramifications for Africa’s media and entertainment landscape, reflecting the continent’s growing relevance on the world stage.
