Table of Contents
Key Points
- South African billionaire Patrice Motsepe’s net worth hits $3 billion, gaining $300 million in two weeks after a February decline.
- A 40% rise in Harmony Gold’s stock lifted its market value to $7.7 billion, increasing Motsepe’s stake to $913 million.
- African Rainbow Minerals’ earnings fell 49% in H1 2025, prompting a strategic review as Motsepe considers selling his Harmony Gold stake.
After a $100 million drop in his net worth back in February, South African billionaire Patrice Motsepe has seen a significant recovery in the past two weeks. His net worth has surged to $3 billion for the first time since August 2024, marking a strong comeback.
Motsepe’s net worth hits $3 billion
According to Forbes, which tracks the world’s wealthiest individuals, Motsepe—who holds the title of the richest Black person in Southern Africa—has gained $300 million over the past two weeks, with his fortune increasing from $2.7 billion on February 28 to $3 billion.
This is linked to his 11.8 percent indirect stake in Harmony Gold, a gold mining company operating in South Africa, Papua New Guinea, and Australia. Its share price has risen nearly 40 percent this year, pushing its market capitalization to R141.7 billion ($7.7 billion). As a result, Motsepe’s stake has climbed to R16.72 billion ($913 million), approaching the $1 billion mark.
The strong year-to-date increase in Harmony Gold’s share price has helped offset the drop in the market value of Motsepe’s 45.9 percent stake in African Rainbow Minerals (ARM), his flagship mining company. ARM’s stock has fallen nearly 5 percent this year, impacting its year-to-date returns and market capitalization.
Harmony Gold profit rises, ARM struggles
While Harmony Gold reported solid results for the six months ended December 31, 2024 (H1 2025)—with revenue up 19.3 percent to R35.45 billion ($2 billion) and net profit increasing 33 percent to R7.93 billion ($445 million)—ARM has faced challenges.
ARM’s headline earnings fell 49 percent in the first half of 2025, dropping from R2.96 billion ($162.2 million) to R1.52 billion ($83.43 million). This decline was largely due to lower iron ore and PGM prices, which hurt ARM Platinum, the division responsible for the Bokoni, Two Rivers, and Modikwa mines.
ARM Platinum reported a headline loss of R689 million ($37.82 million), more than double the previous year’s loss. As a result, ARM has been scaling back its expansion projects and reassessing its strategic direction.
Motsepe’s Harmony Gold stake surges
In light of these challenges, Motsepe, who played a key role in Harmony Gold’s 2003 merger with Avmin, has announced plans to sell his stake in the company as part of a strategy to refocus ARM’s portfolio for long-term growth.
Since the potential sale was revealed, the value of his 11.8 percent stake in Harmony Gold has surged by $821.6 million, reaching $913 million—a gain of around $91 million in just five days.
During ARM’s interim results presentation on March 8, Motsepe stated that “all options are on the table” regarding the Harmony stake, a holding that has been part of the company’s portfolio since the 2003 merger with Avmin.
