The Prince of Mines

Adams, Susan
March 2008
Forbes Asia;3/24/2008, Vol. 4 Issue 5, p54
The article features Patrice Motsepe, the first black billionaire from South Africa. Over 15 years Motsepe, preaching free market capitalism, turned a low-level mining services business into the country's first black-owned mining company, African Rainbow Minerals (ARM), with 2007 revenue of $875 million. Motsepe, a lawyer by training, serves as executive chairman of ARM, with a 42% stake in the company. He also owns a 5.5% stake worth $295 million in Sanlam, a publicly traded financial services company outside Cape Town, South Africa.


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