Patrice Motsepe

Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 - the first black African on the Forbes list. In 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.In 1994, he became the first black partner at law firm Bowman Gilfillan in Johannesburg, and then started a contracting business doing mine scut work.In 1997, he bought low-producing gold mine shafts and later turned them profitable.