South African billionaire Patrice Motsepe’s net worth rebounds to $3.4 billion

After a $200 million setback between mid-July and early August, South African billionaire Patrice Motsepe has seen a significant rebound in his wealth, pushing his net worth to an estimated $3.4 billion. The increase reinforces his standing among Africa’s richest individuals.

According to real-time data tracked by Forbes, Motsepe, Southern Africa’s richest Black individual, has gained $100 million in recent weeks. His net worth rose from $3.3 billion on August 4 to $3.4 billion at the time of drafting this report.

ARM decline offset by gold shares

The latest gain follows a $200 million decline between July 18 and August 4, when Motsepe’s net worth fell from $3.5 billion to $3.3 billion.

The drop reflected pressure on his flagship mining company, African Rainbow Minerals (ARM), which holds interests in iron ore, manganese, platinum group metals, coal, and other base metals. Motsepe controls a 45.9 percent stake in the company.

In recent weeks, Motsepe’s indirect 11.8 percent stake in Harmony Gold has helped offset ARM’s decline. Harmony Gold, which operates mines in South Africa, Papua New Guinea, and Australia, has seen its shares rise more than 25 percent over the past month, while ARM shares slipped about 3 percent.

Harmony Gold shares rise amid expansion

The jump in Harmony Gold shares comes as the company strengthens its position as South Africa’s largest gold producer.

Earlier this month, Harmony cleared a key hurdle in its $1.03 billion bid for Australia’s MAC Copper after a majority of MAC Copper shareholders approved the takeover by Harmony Gold (Australia) Pty Ltd, a wholly owned subsidiary of the Johannesburg-based miner.

If completed, the acquisition would bring new copper assets into Harmony’s portfolio and expand its global operations.

Total assets hit $4.36 billion

Beyond acquisitions, Harmony Gold continues to post strong financial results. For the year ended June 30, 2025, revenue rose 20 percent to $4.07 billion, while profit increased 67 percent to R14.55 billion ($824 million) from R8.69 billion ($492 million).

Total assets grew 28 percent to R77.5 billion ($4.36 billion) up from R60.46 billion ($3.32 billion) a year earlier. Retained earnings surged from R2.24 billion ($127 million) to R14.58 billion ($826 million) in the first half of 2025.