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Motsepe, S Africa Tycoon Donates 50% Wealth To Charity

PUBLISHED BY: SURENDER KUMAR
JANUARY 31, 2013

   
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Patrice Motsepe, South African mining tycoon, has announced his decision to donate half of his total family fortune to charity. He is the first African to match the giving pledges made by Bill Gates and Warren Buffett. The tycoon, worth $ 2.7 billion, would join the Giving Pledge, which asks the wealthiest in the world to give at least 50% of their wealth for charity. He made his billions through black empowerment deals, which were meant to remedy white economic dominance arising from racil discrimination apartheid laws. He owns African Rainbow Minerals (ARB) and is Africa's 8th richest person as per a Forbes listing.

 

The money would be used to help poor and other disadvantaged and marginalised South Africans.

 

 

Ever since Bill Gates and Warren Buffett launched the Giving Pledge in 2010, more than 70 billionaires have joined.

 

 

 



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