Africa’s first Black billionaire recovers $100 million after $400 million drop

Nine days after losing $400 million in the wake of a sharp sell-off in precious metals, Africa’s first Black billionaire, Patrice Motsepe, has seen his fortune recover by $100 million. This reflects the resilience of his mining firms and the continued investor confidence in his portfolio.

Patrice Motsepe net worth rises slightly

According to Forbes, which tracks the wealth of the world’s richest people, Motsepe’s net worth rose from $4 billion on February 6 to $4.1 billion at the time of this report. The $100 million gain follows a decline from $4.4 billion to $4 billion between January 29 and February 6, a period marked by weakness across the shares of mining companies linked to him.

The recent increase in Motsepe’s wealth is tied primarily to his 45.9 percent stake in African Rainbow Minerals (ARM) and an 11.8 percent indirect interest in Harmony Gold, South Africa’s largest gold producer. Motsepe has held the Harmony stake since its 2003 merger with Avmin.

The rebound reflects a stronger gold price, which climbed toward $5,030 per ounce on Friday, paring weekly losses. Softer-than-expected U.S. inflation data eased pressure on Treasury yields and weighed on the dollar, while ongoing central bank purchases, geopolitical tensions, and concerns over rising sovereign debt continue to support long-term demand for gold.

Fintech, renewable bets drive ARC growth

Beyond mining, Motsepe has expanded his investments through African Rainbow Capital (ARC), focusing on sectors like fintech and renewable energy. One investment is Tyme Group, a Singapore-based digital banking company with operations in Africa and Southeast Asia.

Motsepe’s 40 percent stake in Tyme is now valued at approximately $600 million, following the company’s $250 million Series D funding round in December 2024, which raised Tyme’s valuation to $1.5 billion. ARC has also invested in Lesaka Technologies, listed on NASDAQ.

In South Africa, Tyme Group recently transitioned its local unit, Tyme Bank, to GoTyme Bank, aligning the brand with operations in the Philippines and Vietnam. The GoTyme Bank app, launched on Jan. 22, is rolling out in phases to safeguard customers and ensure a smooth transition. The group now serves 20 million customers worldwide.