South African billionaire Patrice Motsepe’s net worth drops $200 million so far in May

South African billionaire Patrice Motsepe has seen his net worth decline by about $200 million so far in May, reflecting a softer period for mining-linked stocks as gold prices eased and investor sentiment weakened in parts of the sector.

He began the month with a fortune of $3.9 billion, according to Forbes, which tracks global billionaire wealth. As of the time of reporting, that figure had slipped to roughly $3.7 billion. The movement trims part of the gains he accumulated earlier in the year, which had been supported by stronger commodity prices and steadier demand across selected mining operations.

African Rainbow Minerals shares drop 7 percent

The decline is closely tied to performance at African Rainbow Minerals, where Motsepe is founder and non-executive chairman. He also holds a 43.66 percent stake in the group, equivalent to over 91 million shares. As the group’s share price softened during the month, the market value of that stake followed the same direction, reducing the paper value of his holding. 

Shares of African Rainbow Minerals have fallen nearly 7 percent on the Johannesburg Stock Exchange this month. That decline has weighed on the group’s market value, which now stands at about R43.4 billion ($2.6 billion), down from earlier levels this year when it traded above the $3 billion mark in dollar terms. The drop has also reduced the value of Motsepe’s stake, which has moved from R22.3 billion ($1.36 billion) to R18.95 billion ($1.16 billion).

Motsepe retains top wealth position

Even with the recent pullback, Motsepe remains one of South Africa’s top business figures. He ranks as the richest Black billionaire in Southern Africa and is placed behind Johann Rupert and Nicky Oppenheimer among South Africa’s wealthiest individuals. Globally, Forbes places him around 1,156th on its billionaire list, which includes more than 3,400 individuals worldwide.

In April, Motsepe received a dividend payout of R455.66 million ($27.1 million) from his stake in African Rainbow Minerals. The company, in turn, distributed a total of R1.044 billion ($62.1 million) to shareholders, supported by stronger earnings for the period. For the six months, African Rainbow Minerals reported profit of R3.04 billion ($183.6 million), more than double the R1.45 billion ($87.38 million) recorded a year earlier.