Patrice Motsepe becomes South Africa’s third-richest man

Patrice Motsepe is edging closer to a personal milestone few on the continent have reached. As his fortune hovers just below the $4 billion mark, the mining magnate has moved ahead of Koos Bekker to become South Africa’s third-richest man, according to Forbes. Motsepe’s net worth is pegged at $3.9 billion, narrowly placing him ahead of Bekker after shifts in listed share prices altered the balance between two of the country’s most influential business figures.

At the time of drafting, both men were valued at an identical $3.9 billion. Yet Forbes’ real-time rankings place Motsepe ahead, reflecting a $33.3 million increase in his fortune over the past 24 hours, compared with a $48.5 million decline for Bekker. The change lifts Motsepe to 1,035th place on the Forbes list of the world’s richest people, while Bekker slips to 1,041st.

Motsepe mining stakes lift net worth

For Motsepe, the latest gain builds on a long career rooted in mining and deal-making. He became Africa’s first Black billionaire in 2008, a landmark that cemented his standing in South African business history. Today, his wealth is still closely tied to resources, particularly his controlling stake in African Rainbow Minerals, the mining company he founded and continues to anchor his portfolio. He also holds an indirect stake in Harmony Gold, South Africa’s largest gold producer, a position he has maintained since Harmony’s merger with Avmin in 2003.

Trading on the day offered a mixed picture across Motsepe’s holdings. Shares in African Rainbow Minerals rose by a modest 0.86 percent, benefiting his 45.9 percent stake. Harmony Gold shares, where he holds an 11.8 percent indirect interest, dipped by 0.82 percent. Taken together, the moves were enough to push his net worth higher by $33.3 million, according to Forbes, and secure his position ahead of Bekker in South Africa’s wealth rankings. Only Nicky Oppenheimer and Johann Rupert now rank above him locally.

Bekker net worth dips below $4 billion

Koos Bekker’s fortune reflects a different trajectory. Widely regarded as a key architect of South Africa’s modern media industry, a 1983 paper he wrote while at Columbia University helped shape the concept behind M-Net and later the founding of MultiChoice, laying the foundation for one of the country’s most influential media groups.

Most of his wealth is tied to Naspers and its Amsterdam-listed subsidiary, Prosus. Bekker holds a 0.93 percent stake in Naspers—equivalent to 1,687,887 shares—and a 0.76 percent stake in Prosus, totaling 19,646,498 shares. Although both companies have delivered strong gains over longer periods, they declined in the latest session. Naspers fell 3.5 percent, while Prosus slid 2.2 percent, pushing Bekker’s net worth back below the $4 billion mark he had recently reached.

Market swings reshuffle South Africa wealth

The contrast between the two fortunes underscores how closely South Africa’s richest individuals remain tied to the daily swings of public markets. Motsepe’s wealth, built on mining assets he has held for decades, benefited from a steadier session in resource-linked stocks. Bekker, whose fortune is more exposed to global technology and media valuations through Naspers and Prosus, felt the impact of sharper declines.

For now, the result is a reshuffling at the top of South Africa’s rich list. Motsepe, at $3.9 billion and counting, stands just short of another historic marker, while Bekker finds himself narrowly behind after a volatile day on the markets. The figures may change again as trading continues, but the latest rankings place Motsepe firmly in third place, a reminder of how quickly fortunes can shift at the highest end of global wealth.