Patrice Motsepe, Africa’s first Black billionaire, rebounds after $800 million drop

Patrice Motsepe, South Africa’s mining magnate and Africa’s first Black billionaire, has seen a partial recovery in his wealth after a sharp decline earlier this year, according to Forbes data tracking his holdings in listed mining companies.

Forbes estimates Motsepe’s net worth rose by $200 million in the past 10 days, climbing from $3.6 billion on June 8 to roughly $3.8 billion at the time of reporting. The gain trims part of an earlier slide that saw his fortune come under pressure over several months.

Mining stocks drive $200 million rebound

The recent $200 million rebound is tied largely to movements in shares linked to his core mining interests. Motsepe holds an indirect 11.8 percent stake in Harmony Gold, South Africa’s largest gold producer, as well as a 43.66 percent stake in African Rainbow Minerals, both of which remain central to his wealth profile.

That recovery follows a weaker stretch between late January and early June, when his net worth fell by about $800 million, slipping from $4.4 billion to $3.6 billion. The decline tracked softer performance in mining equities as gold prices eased below $4,200 an ounce, weighing on sentiment across the sector.

Tyme Group cross-border expansion strategy

Beyond mining, Motsepe has long diversified through African Rainbow Capital, his investment holding company with interests in fintech, telecommunications, renewable energy, and digital banking. One of its key assets is Tyme Group, a Singapore-based digital banking firm operating across Africa and Southeast Asia, where Motsepe holds an effective 40 percent stake.

Tyme Group was last valued at about $1.5 billion after a $250 million funding round, placing Motsepe’s interest at roughly $600 million. The company continues to expand its footprint and in February completed the rebranding of its South African operations under the GoTyme identity, aligning its businesses across markets in Africa and Asia under a single brand.