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Patrice Motsepe Net Worth

Patrice Motsepe
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Glusea brings to you Patrice Motsepe net worth.

Patrice Motsepe net worth 2021: Patrice Motsepe is the richest black man in South Africa. He is the founder and executive chairman of African Rainbow Minerals. Patrice Motsepe net worth is $3 billion

Patrice Motsepe Profile

Patrice was born to Kgosi Augustine Motsepe, chief of the Mmakau branch of the Tswana people.

Patrice’s father had been a schoolteacher and who was later a small businessman as the owner of a Spaza shop which was popular with black mineworkers.

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Motsepe holds a Bachelor of Arts degree at the University of Swaziland and a law degree from the University of the Witwatersrand.He specialized in mining and business law.

Patrice Motsepe Career

The successful businessman learnt the basic  business principles from his father at his Spaza shop.

In 1994, he became the first black partner in the law firm Bowman Gilfillan.

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Motsepe founded Future Mining after Nelson Mandela became the country’s first president and began promoting black empowerment.

Read Top 10 Richest People in South Africa

The company provided contract mining services that included the cleaning of gold dust from inside mine shafts for the Vaal Reefs Gold mine, and implemented a system of worker remuneration that combined a low base salary with a profit-sharing bonus.

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Patrice Motsepe net worth

Patrice Motsepe net worth
Patrice Motsepe Net Worth 28

In 1997, with gold prices at a low, he purchased marginal gold mines from AngloGold under favourable finance terms. AngloGold sold Motsepe six gold mine shafts for $7,7million allowing him to repay the debt out of the future earnings of the company now known as African Rainbow Minerals.

Read Richest Actors in South Africa

The Black Economic Empowerment (BEE) laws introduced after the 1994 elections have been instrumental in cementing Motsepe’s position in the mining industry in South Africa. A business must have a minimum of 26% black ownership to be considered for a mining license.

Since 2004, he has been a non-executive director of Absa Group and Sanlam.

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In 2002 when it was listed on the JSE Security Exchange, African Rainbow Minerals joined with Harmony Gold Mining Ltd. and the company’s name changed to ARMgold.

Motsepe is also the founder of African Rainbow Minerals Platinum (Proprietary) Limited and ARM Consortium Limited, which later equally split ownership with Anglo American Platinum Corp Ltd. From 2005, Motsepe was Chairman of Teal Exploration and Mining Incorporated.

Motsepe is also chairman of Ubuntu-Botho Investments, Non-Executive chairman of Harmony Gold Mining Co Ltd. and deputy Chairman of Sanlam Ltd. Motsepe has been president of South Africa’s Chamber of Commerce and Industry.

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Patrice Motsepe Net Worth

Patrice Motsepe net worth is $3 billion, an equivalence of R35 billion making him the richest black man in South Africa.

He is currently the interim chairman of the Black Business Council and is a founding member and former president of one of South Africa’s most influential business advocacy and lobby group Business Unity SA (BUSA).

He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world’s 12th largest gold mining company, and the deputy chairman of Sanlam

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Motsepe is married to Dr. Precious Moloi, a physician and fashion entrepreneur. They have three children. He is the brother of Tshepo Motsepe and Bridgette Radebe, and the brother-in-law of both President Cyril Ramaphosa and Minister Jeff Radebe.

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Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual live his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspire higher in ;life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. welcome to the Glusea family.. we love you dearly contact us via email : gluseagh@gmail.com

NET WORTH

Richard Branson Net Worth 2021

Richard Branson net worth 2021 is $4.4 billion. He is the third oldest person and the first billionaire to travel to space. Branson is among the wealthiest people in the world list.

Richard Branson net worth
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What is Richard Branson net worth?

Richard Branson holds the record as the first billionaire to travel to space

In this write up, we will be bringing to you the net worth and lifestyle of one of the richest people in the world, Richard Branson.

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Branson is an English businessman, investor and an author.

Richard Branson Net worth Profile

Net worth$4.4 billion
Full nameSir Richard Charles Nicholas Branson
Date of birth18 July, 1950
OccupationBusinessman and author
NationalityBritish
SpouseJoan Templeman
Known forVirgin Group Founder

Richard Branson net worth 2021 is $4.4 billion. He is the third oldest person and the first billionaire to travel to space. Branson is among the wealthiest people in the world list.

Early Life of Richard Branson

Branson was born in Blackheath, London, to Eve Branson, a former ballet dancer and air hostess, and Edward James Branson, a barrister.

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He has two younger sisters, Lindy Branson and Vanessa Branson. His grandfather, Sir George Arthur Harwin Branson, was a judge of the High Court of Justice and a Privy Councillor.

Education

Branson was educated at Scaitcliffe School, a prep school in Surrey, before briefly attending Cliff View House School in Sussex. He attended Stowe School, an independent school in Buckinghamshire until the age of sixteen.

Branson has dyslexia, and had poor academic performance; on his last day at school, his headmaster, Robert Drayson, told him he would either end up in prison or become a millionaire.

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Business Career

After failed attempts to grow and sell both Christmas trees and budgerigars, Branson launched a magazine named Student in 1966 with Nik Powell. The first issue of Student appeared in January 1968, and a year later, Richard Branson net worth was estimated at £50,000.

Though not initially as successful as he hoped, the magazine later became a vital component of the mail-order record business Branson started from the same church he used for Student. Branson used the magazine to advertise popular albums, driving his record sales.

He interviewed several prominent personalities of the late 1960s for the magazine including Mick Jagger and R. D. Laing.

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 Branson took over full direction of Student after successfully bluffing to Powell that the workers at the magazine opposed Powell’s plans to turn the magazine into a cooperative.

Branson eventually started a record shop in Oxford Street in London. In 1971, he was questioned in connection with the selling of records declared export stock.

The matter was never brought before a court because Branson agreed to repay any unpaid purchase tax of 33% and a £70,000 fine. His parents re-mortgaged the family home to help pay the settlement.

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Virgin Group

In 1972, using money earned from his record store, Branson launched the record label Virgin Records with Nik Powell. The name “Virgin” was suggested by one of Branson’s early employees because they were all new at business.

 Branson bought a country estate north of Oxford in which he installed a residential recording studio, The Manor Studio.

 He leased studio time to fledgling artists, including multi-instrumentalist Mike Oldfield, whose debut album Tubular Bells (1973) was the first release for Virgin Records and became a chart-topping best-seller.

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Among the other artistes virgin records signed include;  Rolling Stones, Peter Gabriel, XTC, Japan, UB40, Steve Winwood and Paula Abdul. It later became the world’s largest independent record label.

Richard Branson net worth was estimated at £5 million by 1979, and a year later, Virgin Records went international.

Virgin Atlantic Airways

Branson’s first successful entry into the airline industry was during a trip to Puerto Rico. His flight was cancelled, so he decided to charter his own plane the rest of the way and offered a ride to the rest of the stranded passengers for a small fee to cover the cost

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Branson formed Virgin Atlantic and Virgin Cargo in 1984. He formed Virgin Holidays in 1985.

In 1997, Branson founded the Virgin Rail Group to bid for passenger rail franchises during the privatisation of British Rail. The Virgin Trains brand operated the InterCity West Coast franchise from 1997 to 2019, the InterCity CrossCountry franchise from 1997 to 2007, and the InterCity East Coast franchise from 2015 to 2018.

In 2004, he founded spaceflight corporation Virgin Galactic, based at Mojave Air and Space Port in California, noted for the SpaceShipTwo suborbital spaceplane designed for space tourism.

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In March 2000, Branson was knighted at Buckingham Palace for “services to entrepreneurship”.

 For his work in retail, music and transport (with interests in land, air, sea and space travel), his taste for adventure and for his humanitarian work, he has become a prominent global figure.

 In 2007, he was placed in the Time 100 Most Influential People in the World list. In July 2021, Forbes listed Branson’s estimated net worth at US$5.7 billion.

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Richard Branson Net Worth

Richard Branson net worth 2021 is $4.4 billion. He is the third oldest person and the first billionaire to travel to space. Branson is among the wealthiest people in the world list.

On 11 July 2021, Branson travelled as a passenger onboard Virgin Galactic Unity 22 at the edge of space, a suborbital test flight for his spaceflight company Virgin Galactic.

 The mission lasted approximately one hour, reaching a peak altitude of 53.5 miles (86.1 km). At 71, Branson is the third oldest person to fly to space and the first billionaire to do so.

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Who went to space with Richard Branson?

Beth Moses and Sirisha Bandla

How did Richard Branson get rich?

By the ’70s, Richard Branson and Nik Powell started a mail-order record retailer. From there, the business then evolved into a record shop on Oxford Street in London called Virgin Records, according to Virgin’s website. Eventually, Virgin took a deep dive into the aviation industry and launched Virgin Atlantic in 1984.

What is Richard Branson famous for?

Richard Branson is Founder of the Virgin Group. Virgin is one of the world’s most irresistible brands and has expanded into many diverse sectors from travel to telecommunications, health to banking and music to leisure.

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Source: Glusea

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Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual lives his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as a way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspires higher in; life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. Welcome to the Glusea family.. we love you dearly contact us via email: gluseagh@gmail.com Copyright © 2021, Glusea