• Monday, April 22, 2024
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Meet the South African billionaire joining bid for MultiChoice

Meet the South African billionaire joining bid for MultiChoice

Patrice Tlhopane Motsepe, the 62-year-old first black African Billionaire, is in talks with Vivendi SE’s Canal+ to join its multibillion-dollar bid for MultiChoice Group.

Motsepe’s participation in the deal would likely help the French media conglomerate meet South Africa’s stringent black ownership requirements.

The billionaire, who has a net worth of $2.6 billion, is a prominent figure in his country’s mining industry. He made his fortune through mining interests that eventually led to the formation of a mining company, African Rainbow Minerals in 2004.

He has reportedly been instrumental in reshaping the mining industry and promoting sustainable development. Besides mining, he has diversified his investments into areas such as finance and energy.

In 2016, he established African Rainbow Capital, a private equity firm focusing on African investments. Motsepe also holds shares in Sanlam, a publicly traded financial services company, and serves as president and owner of the Mamelodi Sundowns Football Club.

In 2021, he was elected president of the Confederation of African Football, the governing body for football on the continent.
Motsepe earned his bachelor’s degree in law from the University of Swaziland and a law degree from the University of the Witwatersrand, Johannesburg.