Africa’s first black billionaire, Patrice Motsepe, grew his fortune by $200 million in May, reaching a net worth of $3.2 billion. The uptick is tied to the solid performance of his mining firm, African Rainbow Minerals, which posted a 2% stock gain in May and a 5.37% rise year-to-date. The company remains popular among investors and was traded heavily between February and May. However, Motsepe’s influence extends beyond mining. He’s also a major investor in Tyme Group, a digital banking company that recently became Africa’s ninth unicorn after a major funding round, which saw its valuation rise to $1.5 billion. Motsepe’s leadership extends to sports—he is currently serving a second term as the president of Africa’s football governing body, the Confederation of African Football.
Nairametrics
