September 23, 2017

Low commodity demand costs Patrice Motsepe a fortune

Patrice Motsepe

The commodities price slump has cost Patrice Motsepe, chairman of the African Rainbow Minerals, a place amongst the coveted list of South Africa’s handful dollar billionaires, according to a list which is published every year end by Sunday Times’ Business Times section.

At the height of the boom, Motsepe featuring regularly on the list. At some point even the coveted Forbes Magazine published a review on him. Of the dollar billionaires on the list only one has made his fortune from minerals, Glencore’s Ivan Glanbserg. This year Motsepe is ranked at number 18.

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