Patrice Motsepe retains top spot as South Africa’s wealthiest investor on JSE

Patrice Motsepe, Africa’s first Black billionaire and the wealthiest Black individual in Southern Africa, has retained his position as the Johannesburg Stock Exchange’s (JSE) richest investor, according to the latest rankings released by Billionaires.Africa on Nov. 8.

Billionaires.Africa, unveiled its list of the “30 Richest South Africans on the JSE,” confirming that Motsepe remains the foremost figure in South Africa’s stock market. This achievement adds another accolade to his illustrious career and financial success, as he solidifies his position among Africa’s wealthiest individuals.

Patrice Motsepe maintains position amid market fluctuations

The newly released list, compiled by analyzing equity portfolios on the JSE and utilizing data from S&P Global Market Intelligence, publicly available documents, and disclosures, reveals that the market value of Motsepe’s equity portfolio on the JSE currently stands at $1.58 billion.

Despite experiencing a slight dip in the total value of his stock holdings, which decreased from $1.61 billion on June 29 to $1.58 billion on Nov. 8, Motsepe remains the top-ranked investor on the local bourse. He maintains his lead over South Africa’s wealthiest man Johann Rupert, whose total equity portfolio on the JSE is valued at $1.33 billion.

Securing the third spot on the list is Michiel Le Roux, the founder of the prominent retail bank, Capitec Bank, with a total portfolio of $1.33 billion. Le Roux’s substantial holdings are attributed to his impressive 11.39-percent stake in Capitec Bank, valued at more than $1.33 billion.

Motsepe’s diverse portfolio proves resilient with gains in financial services sector

Motsepe’s extensive equity portfolio includes his principal holding in African Rainbow Minerals (ARM), the mining giant he founded, where he retains a commanding 40.37-percent stake valued at $835.5 million.

Additionally, he holds a 7.8-percent share in the financial services behemoth, Sanlam, valued at $647.9 million, and indirectly owns a 27-percent stake in African Rainbow Capital Investments (ARCi), valued at $97.14 million.

While the market value of Motsepe’s stake in ARM and ARCi has declined by 42.3 percent and 18.3 percent since the beginning of the year, his substantial equity holdings in Sanlam have surged by more than 38 percent during the same period. This significant growth in the financial services sector has helped offset losses in his other equity holdings in JSE-listed companies.

Motsepe’s ability to maintain his position as the JSE’s wealthiest investor underscores his financial acumen and resilience amid market fluctuations. His diversified portfolio, spanning mining and financial services, continues to be a testament to his enduring success and prominence in the world of finance.