Billionaire Patrice Motsepe’s ARM faces $195-million lawsuit from Tanzania’s Pula
Motsepe owns a 39.7-percent stake in ARM.
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Motsepe owns a 39.7-percent stake in ARM.
Investing in dividend-paying stocks can be a great way to generate passive income.
ARC Financial Services Holding, a company founded by Motsepe, owns a stake in TymeBank.
SIH is Sanlam’s third-party asset management company.
Motsepe, who founded ARM in 1997 as South Africa’s first Black-owned mining company, owns 39.7 percent of the company.
Motsepe’s net worth has dropped by $500 million since the start of the year.
Patrice Motsepe is Southern Africa’s richest Black person.
ARM is a major South African mining and minerals company.
The mining company announced that the multimillion-dollar transaction will go into effect on Sept. 1.
Despite his declining net worth, Motsepe remains one of South Africa’s richest men.
TymeBank is owned in part by African Rainbow Capital Financial Services Holding, a Black-owned and -controlled company.
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
The Motsepe Foundation facilitated $4.4 million in funding for the first two projects.
The news comes a year after the his energy firm acquired a strategic 40-percent stake in SOLA Group.
Motsepe is a member of the WEF Board of Trustees.
Motsepe’s net worth has risen to $3.1 billion so far this year.