Ya hey…what’s that they say about the rich again? South African billionaire, Patrice Motsepe just collected a tidy R8 billion after a 10 year investment deal matured. Motsepe invested R200 million in Sanlam’s Ubuntu-Botho BEE deal in 2004 and it has recently matured with a return of 45 percent per year for a decade.
Anyone have his number? I just wanna congratulate him and totally not ask if he wants to give me some cash money.
“The Ubuntu-Botho Black Economic Empowerment (BEE) deal, which came to the end of its 10-year contractual period on 31 December 2013, created value of approximately R15 billion (after debts and interests had been fully settled) from an initial investment of R1.3 billion, making the transaction between Sanlam and Ubunthu-Botho the most successful of its kind in South African history.” [Ventures]
Forbes recently listed Motsepe as SA’s 4th richest man with an estimated net worth of $2.7 billion. Add the $742 million he just made and he jumps over Christo Wiese into 3rd place.
See the list of SA’s 8 wealthiest people HERE.
Patrice…call me homie.