Richest Black S. African Motsepe Joins Buffett Charity Vow
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Patrice Motsepe, chairman of African Rainbow Minerals Ltd. and the richest black South African, pledged some of his wealth to charity, joining Warren Buffett’s initiative to boost philanthropy.
The Motsepe family “will contribute at least half of the funds generated by our family assets to the Motsepe Foundation,” to be used during his lifetime and beyond that of his wife to improve lifestyles and living conditions of poor and marginalized South Africans, Precious Moloi Motsepe, Patrice’s wife, told reporters today in Johannesburg. The foundation was formed in 1999.