Africa’s first Black billionaire Patrice Motsepe loses $800 million in 2026

Africa’s first Black billionaire, Patrice Motsepe, has seen his fortune shrink by $800 million since the start of 2026, underscoring the volatility in the wealth of some of the continent’s richest individuals despite a generally strong year for African billionaires.

According to checks by Nairametrics on the Forbes Real-Time Billionaires Tracker as of July 19, 2026, Motsepe’s net worth stands at $3.5 billion, down from $4.3 billion at the beginning of the year, representing an 18.6% decline in his wealth.

The South African mining magnate is currently ranked the 1,210th richest person in the world.

He remains South Africa’s only Black billionaire and is widely recognised as Africa’s first Black billionaire, having become the first Black African to join the Forbes billionaires list in 2008 after his fortune surpassed the $1 billion mark.

What they are saying

The erosion in the market value of his flagship mining company has been a key driver of the reduction in his wealth.

• Motsepe’s declining fortune comes amid a sustained slump in the share price of African Rainbow Minerals (ARM), the mining company that accounts for the bulk of his wealth.
• Data from the Johannesburg Stock Exchange (JSE) shows that African Rainbow Minerals (ARI) closed trading on Friday, July 17, 2026, at ZAR 165.62 per share, down 3.2% from its previous close of ZAR 171.05.
• The stock has fallen significantly from its opening price of ZAR 198.90 at the start of the year, representing a 16.7% year-to-date decline. It has also shed 23.2% over the past six months, 31.6% over the last three months, and 8.34% in the past month, highlighting persistent investor concerns over the company’s market performance.
• The weak share price performance has contributed to African Rainbow Minerals’ ranking 348th on the JSE in year-to-date performance, while the stock has also declined by approximately 8% since June 19.

Trading activity, however, has remained relatively strong. African Rainbow Minerals was the 104th most actively traded stock on the Johannesburg Stock Exchange over the three months between April 17 and July 17, 2026.

What you should know

In 2016, he established African Rainbow Capital, a private equity investment firm focused on African businesses. Through the investment vehicle, he holds stakes in more than 40 companies across banking, telecommunications, agriculture, renewable energy and financial services.

• Motsepe is also deputy chairman of Sanlam, one of South Africa’s largest financial services groups, and non-executive chairman of Harmony Gold. In sports, he owns Mamelodi Sundowns Football Club and has served as president of the Confederation of African Football (CAF) since 2021. He secured a second term as CAF president in March 2025.
• His journey to becoming one of Africa’s wealthiest entrepreneurs began in the legal profession. In 1994, the same year Nelson Mandela became South Africa’s first Black president, Motsepe became the first Black partner at Johannesburg law firm Bowman Gilfillan before venturing into mining services.

Three years later, he acquired underperforming gold mine shafts from AngloGold at a time when gold prices were weak, turning the distressed assets into profitable operations that later evolved into African Rainbow Minerals.

In February 2026, Motsepe stepped down as Executive Chairman of African Rainbow Minerals following changes to Johannesburg Stock Exchange listing rules that separated the roles of board chair and executive director. He remains on the company’s board as Non-executive Chairman.