Patrice Motsepe, the South African billionaire businessman and president of the Confederation of African Football (CAF), has seen his net worth rise to $3.4 billion, according to real-time billionaire tracking by Forbes.
His net worth previously stood at $3.2 billion according to previous reports by Nairametrics.
Motsepe, 62, is the founder and executive chairman of African Rainbow Minerals (ARM), one of South Africa’s most influential mining companies.
He made history in 2008 as the first Black African to appear on the Forbes billionaire list and remains one of the continent’s most prominent business figures. His wealth is largely derived from his diversified holdings in mining, financial services, and private equity.
What to know
The uptick in his fortune comes amid a flurry of restructuring activity within ARM’s joint venture Assmang, co-owned with South Africa-based Assore.
The company is undergoing a major operational shift following the decision to permanently close its Cato Ridge Works (CRW) manganese plant, which has been plagued by losses in recent years.
- The CRW facility, established in 1956, will shut down by August 31, 2025, resulting in the retrenchment of hundreds of workers. ARM said the site, along with adjacent land, will be remediated and redeveloped into a commercial and logistics hub, a long-term bet on infrastructure development in the region.
- As part of the transition, Assmang will sell selected CRW assets, including land, properties, and staff housing, to Assore SA PropCo, a subsidiary of Assore, for R453.23 million ($25.7 million). The deal was signed on June 27, 2025, by all relevant parties, including African Rainbow Minerals and Feralloys.
In a separate transaction, Assmang has also agreed to divest its 54.36% stake in Malaysia-based Sakura Ferroalloys to Assore. This transaction, expected to close in the coming months, will return R900 million ($51.1 million) in cash to African Rainbow Minerals, further strengthening its balance sheet.
More insight
Motsepe’s rise to billionaire status began in the 1990s when he purchased underperforming gold mine shafts during South Africa’s post-apartheid transition. By turning them profitable, he laid the foundation for ARM’s growth. In 1994, he also became the first Black partner at Johannesburg law firm Bowman Gilfillan before transitioning into mining full-time.
Beyond mining, Motsepe has extended his reach through African Rainbow Capital, a private equity firm he launched in 2016 to invest across African sectors. He also holds a stake in Sanlam, one of South Africa’s largest financial services firms.
In the sports world, Motsepe is both owner of the Mamelodi Sundowns Football Club and president of CAF, having assumed the continental football leadership role in March 2021. Under his watch, CAF has sought greater commercial partnerships and structural reform within African football.
