Patrice Motsepe hits $4.3B fortune as gold tops $5,100

South African billionaire Patrice Motsepe has reached a new peak in his wealth, with his net worth rising to $4.3 billion, according to Forbes. The jump comes as gold prices hit a fresh all-time high, surpassing $5,100 an ounce on Monday, thus reflecting both the precious metal’s rally and the strong performance of Motsepe’s mining holdings.

ARM, Harmony boost Motsepe fortune

Motsepe, who became Africa’s first Black billionaire in 2008, has seen his fortune climb by $600 million since the start of 2026. His net worth rose from $3.7 billion on Jan. 1 to $4.3 billion, reflecting the gains from his patient investments in mining. The boost stems from Motsepe’s stakes in African Rainbow Minerals (ARM) and Harmony Gold. He owns 45.9 percent of ARM, a diversified mining company active in iron ore, coal, copper, gold and platinum group metals.

ARM shares have surged more than 27 percent since Jan. 1, lifting the company’s market capitalization to R53.57 billion ($3.33 billion) and the value of Motsepe’s holding to R24.58 billion ($1.53 billion). Harmony Gold, South Africa’s largest gold producer, has gained over 20 percent this year. Motsepe’s indirect 11.8 percent stake is now worth R29.43 billion ($1.83 billion), bringing the combined value of his mining interests to roughly $3.36 billion.

This solidifies Motsepe’s spot as South Africa’s third-richest individual and places him among the world’s top 1,000 billionaires. On the Forbes list, he ranks 965th, ahead of fellow South African Koos Bekker, whose wealth slipped to $3.8 billion from over $4 billion in December.

Gold demand surges worldwide

The sustained gold rally is linked to rising geopolitical tensions and global fiscal uncertainties. Spot gold reached $5,102 an ounce before settling slightly lower at $5,086, while U.S. futures for February delivery rose to $5,087. Investors have increasingly turned to the yellow metal for protection against uncertainty, a trend Goldman Sachs says is broadening beyond traditional channels. ETF holdings in the West have increased by about 500 tonnes since 2025, and purchases by high-net-worth individuals have strengthened demand.

Central banks are also buying more gold. Goldman estimates average monthly purchases of 60 tonnes, up from a pre-2022 average of 17 tonnes, as emerging-market banks shift reserves into the precious metal. The bank expects these hedges against global macro-policy risks to remain in place through 2026, helping sustain gold’s price levels. Goldman recently raised its year-end 2026 forecast to $5,400 an ounce from $4,900, citing the appeal of gold as a safe haven.