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Altruism at Its Best: South African Billionaire Patrice Motsepe Pledges To Give Away Half His $3 Billion Fortune To Help The Poor On His Continent

Posted by Media Outrage on January 31st, 2013

Patrice Motsepe

This man is stuntin’ all over the money Jay-Z, Diddy, and your girl Super Bowl BEY has locked up in their coffers.

South Africa’s money man, Patrice Motsepe, has pledged to give away half of his fortune to the destitute.

Peep Game

Motsepe made his announcement on Wednesday in Johannesburg, amid speculation he was going to buy South Africa’s Independent Newspaper Group from major shareholders Independent News and Media. Rumours also circled African Rainbow Minerals, of which he is the founder and executive chairperson, would make purchases in the platinum sector.

According to Forbes, Motsepe’s net worth alone is at $2.65-billion as of November 2012.

Motsepe said the money given to the Motsepe Foundation would contribute in particular to addressing education and health issues in South Africa.

In a live video at the event, billionaire and philanthropist Bill Gates commended Motsepe’s decision.

The announcement was attended by the likes of King Goodwill Zwelithini, Basic Education Minister Angie Motshekga, Rabbi Warren Goldstein and other religious leaders.

Motsepe was recently in Davos – as was Denis O’Brien, Independent News and Media’s biggest shareholder who met with President Jacob Zuma around “shareholdings in South Africa” – and expressed an interest in the media group, according to Bloomberg, leading to speculation he wanted to buy the South African media arm of the Irish publishing company.
Mediaoutrage- Lovely….we just hope the money reaches those who are truly in NEED!









  • Sowmbi

    Proud about it baby!!! – take it 4rm an eMzantsi dude, hope this goes the distance and has sustainability!!!