Business
South African billionaire, Patrice Motsepe to donate half of his fortune to charity
“We hope that our Giving Pledge will encourage others in South Africa and other emerging economies to give and make the world a better place,” said Motsepe.
Motsepe, 51, made his billions through black empowerment deals, designed to redress white economic dominance that stemmed from apartheid laws.
He founded and owns mining company African Rainbow Minerals (ARB) and is Africa’s eighth richest person according to Forbes magazine.
ARB had revenue of US$228 million in the third quarter of 2012, from its extensive gold, platinum, iron ore and coal operations in South Africa and copper interests in Zambia and the Democratic Republic of Congo.
Motsepe owns a controlling stake in the company.
He also owns Pretoria-based soccer club Mamelodi Sundowns.
The donation will go to the Motsepe Family Foundation, which he set up with his wife, Precious, in 1999.
