South African billionaire Patrice Motsepe’s net worth drops below $4 billion

Selling pressure on mining stocks listed on the Johannesburg Stock Exchange has trimmed the wealth of Patrice Motsepe, pushing the net worth estimate of the South African billionaire below the $4 billion mark after a sharp decline tied to his mining investments.

The drop follows a recent slide in the shares of mining companies tied to Motsepe’s portfolio. As investors reduced their exposure to mining stocks on the Johannesburg market, the value of his holdings moved lower, cutting an estimated $400 million from his personal fortune.

Motsepe wealth dips below $4 billion

According toForbes, which tracks the world’s richest individuals, Motsepe’s net worth fell from $4.3 billion on Feb. 26 to about $3.9 billion at the time of drafting this report. The nine-day decline has temporarily pushed the mining magnate back below the $4 billion threshold.

Motsepe, who became a billionaire in 2008 and was the first Black African to appear on the Forbes billionaires list, built much of his fortune through mining. He founded African Rainbow Minerals (ARM) in 2003 and has served as its executive chairman for years before transitioning to the role of non-executive chairman. He owns a 45.9 percent stake in the company and also holds an indirect 11.8 percent interest in Harmony Gold, South Africa’s largest gold producer.

ARM, Harmony slump trims Motsepe stakes

The decline in his wealth mirrors the recent pullback in both companies’ shares. Over the past week, ARM has dropped about 15 percent while Harmony Gold has fallen 17.8 percent. As a result, the market value of ARM has slipped to about R44.72 billion ($2.7 billion), while Harmony Gold’s market capitalization has eased to roughly R202.6 billion ($12.2 billion).

The shift has also reduced the value of Motsepe’s personal stakes. His holding in ARM has declined from roughly $1.53 billion to about $1.24 billion, while the value of his interest in Harmony Gold has fallen from about $1.83 billion to nearly $1.5 billion.

ARM profit doubles despite market retreat

The market retreat comes despite stronger results from ARM. The mining company reported profit of R3.04 billion ($183.6 million), more than double the R1.45 billion ($87.38 million) recorded a year earlier. Revenue rose 31.63 percent to R8.4 billion ($507.3 million), supported by higher platinum group metals prices and increased output from key mining operations.

Headline earnings for the half-year increased 10 percent to R1.67 billion ($100.78 million), equal to R8.66 ($0.52) per share, compared with R1.52 billion ($91.73 million), or R7.75 ($0.46) per share, in the same period last year. ARM also declared an interim dividend of R5 ($0.30) per share, up from R4.5 ($0.27) per share previously, reflecting the stronger earnings performance. 

The company ended December 2025 with net cash of R8.46 billion ($510.28 million), up from R6.61 billion ($398.69 million) six months earlier, leaving the group with a stronger balance sheet even as its share price faces pressure in the market.