Does
it seem likely that a billionaire would promise to give away half his
wealth for a worthy cause? As unlikely as that might sound, that is what
South Africa’s only black billionaire Patrice Motsepe has pledged to
do. Motsepe who has a net worth of $2.65 billion, has pledged to donate
half his fortune to help the poor people in his country
Who is the man Patrice Motsepe?
Born in the Johannesburg township of
Soweto in South Africa, Motsepe learned to be hardworking from
childhood. His work ethic was instilled in him with the help of his
father who made him work at his family’s convenience store at an early
age. A lawyer by training, Motsepe acquired most of his wealth from the
mining conglomerate African Rainbow Minerals which he founded in 1997.
The publicly-traded company that specializes in the mining of several
valuable minerals, including platinum and gold, was established at a
time when the market for gold was closest to its three-decade low level.
Motsepe, who Celebrity Net Worth
describes as a “literal prince” of the Tswana Tribe, is one of seven
billionaires in South Africa and the country’s only black billionaire.
He is the owner of the Pretoria based soccer club Mamelodi Sundowns.
Giving to the Poor
Drawing inspiration from people like
Microsoft founder Bill Gates and business magnate Warren Buffett,
Motsepe decided to give half of his tremendous wealth to the aid of the
underprivileged. According to him, the plan had been there for a while
to give half his wealth to the disadvantaged and marginalized people in
the country, but he was working to tie up all the loose ends to ensure
the mission is not derailed along the way.
The money would be channeled through the
Motsepe Foundation to help address health and educational issues
confronting the poor. According to BBC News, the black billionaire said
his charitable gesture was also influenced by the spirit of “Ubuntu,” an
African belief system which translates into “I am because you are.”
Motsepe is also one of more than 70
billionaires, including Gates and Buffett, who have joined The Giving
Pledge. The campaign aims to bring notable and wealthy figures around
the world together to contribute part of their wealth toward assisting
underprivileged people. Gates, who started The Giving Pledge with
Buffett in 2010, has commended Motsepe for his generous deed toward the
less fortunate.
Source: financialjuneteenth
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