The idea of black wealth is something that has raised a lot of eyebrows in the past and still seems to be doing so even today. The margin between the wealth of the white man and that of the black man is something that has been carefully kept and as such, there is this unspoken suspicion that a wealthy black man must be corrupt or else, he is a politician. Now despite all of these suspicions, there is no doubt that the average black man is a very hard-working person. More so, there are certain black people who have distinguished themselves through their various endeavors that have paid off beautifully. So we want to take a closer look at every thing there is to know about the richest black man in South Africa.

According to Forbes and all clear statistics, the richest black man in South Africa is Patrice Motsepe. He is well-known to every one owing to his many feats in business that has taken him to where he is today. So, we bring you all of the facts you may not have known about Patrice Motsepe.

  • He was born to Augustine Motsepe, a schoolteacher turned small businessman, who owned a Spaza shop popular with black mine workers. He was not born with a silver spoon, his parents were ordinary struggling people just like yours and mine, but that did not limit him in any way rather, it pushed him into trying really hard to make a better home for himself and his children after him.
  • His father named him after Patrice Lumumba an African independence leader and the first Prime Minister of the Democratic Republic of Congo, who fought tirelessly and helped his country to gain independence. You could say that the same winning streaks run in the two men because, Motsepe took the little mining knowledge he got from his father and turned it into something that still amazes people.


  • It was from his father’s Spaza shop that young Patrice learnt some basic business principles and the mining skills that have made him the man he is today. He did not neglect the little things he learnt from his father’s little shop, and that did not let him down either.
  • Did you know that Patrice earned a bachelor of arts at the University of Swaziland and a law degree from the University of the Witwatersrand? Yes, he did the right things at the right time. 
  • Because of his noticeable hard work in his chosen field, he was chosen to be the first black partner in the law firm Bowman Gilfillan as far back as 1994. Knowing that Bowman Gilfillan Inc. is one of the biggest and most prestigious law firms in South Africa, it was obviously not easy to have made partner when he was only 32 years old.
  • As at 2012, his net worth was calculated at $2.4 billion, topping the Sunday Times annual rich list and he was named South Africa’s richest black person. However, as at Nov. 2014, Forbes calculated his net worth to be an estimated $2.3 billion.
  • He paid what is said to be a record R69-million in September for a house in the exclusive suburb of Bishops court in Cape Town.


  • He is a stakeholder in Sanlam, a listed financial services firm.
  • He pledged $1 million to help combat Ebola in West Africa.
  • The mining magnate is the first African to sign Bill Gates’ and Warren buffet’s giving pledge where he promised to give away half his fortune to charity. Very chivalrous.
  • The mogul is South Africa’s First black billionaire in a country where black people are not expected to be millionaires. He is still a shock to some people who believe that a black wealthy man must be doing some underground dirty business.
  • He is the President and owner of Sundowns football club.


  •  In 2012 African Rainbow Minerals was the ANC’s largest benefactor at Mangaung.
  • In December of 2013, City Press reported that he bid R400, 000 for a photograph of the ANC NEC top six members taken at the Mangaung Elective Conference, and another  R700,000 for a picture of Nelson Mandela framed along with minted coins depicting the faces of past ANC Presidents.
  • His wife is an accomplished doctor and the manager of the Motsepe Foundation.
  • He is the proud father of three beautiful children.