South African billionaires Patrice Motsepe and Johann Rupert, majority shareholders of the Pretoria-based sports company Blue Bulls Company, have reportedly acquired a controlling interest in the Boland Rugby Union.
Sources familiar with the matter reveal that a consortium linked to Patrice Motsepe and Johann Rupert, whose combined net worth is $14.3 billion, has purchased a 74-percent stake in the Boland Cavaliers.
The primary objective of this investment by the consortium, linked to these South African billionaires, is to nurture talent in the region, much like the successful ascent of Stellenbosch FC to the top tier of South African football.
Despite receiving approval from the 216 clubs constituting Boland, the recent majority acquisition of the South African rugby union team, a participant in the annual Currie Cup tournament, is pending clearance from SA Rugby and other unions.
Upon anticipated approval from SA Rugby and other unions, Boland will become the first non-franchise union in the country to secure a majority private equity partner.
This move will further solidify Patrice Motsepe and Johann Rupert’s involvement in the national rugby landscape, as they already jointly own a 74 percent stake in Blue Bulls.
In recent weeks, Patrice Motsepe and Johann Rupert have witnessed substantial increases in their wealth, bolstered by the outstanding performance of their respective companies.
Rupert has surpassed Nigerian billionaire Aliko Dangote to claim the title of Africa’s wealthiest individual, while Motsepe has experienced a remarkable $200-million surge in his fortune, rising from $2.3 billion on June 2 to $2.5 billion.
