Showing posts with label Wealth. Show all posts
Showing posts with label Wealth. Show all posts
Saturday, 16 May 2026
Sunday, 25 January 2026
PATRICE MOTSEPE JOINS $4 BILLION CLUB AMID MINING RALLY AND GLOBAL EXPANSION
South African mining magnate Patrice Motsepe, who serves as president of the Confederation of African Football (CAF) and is an in-law of President Cyril Ramaphosa, has joined the $4 billion net-worth club, propelled by a rally in gold and copper assets and a strategic expansion into Australia.
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| Patrice Motsepe joins $4 billion club amid mining rally and global expansion |
- Patrice Motsepe, South African mining magnate and CAF president, has reached a net worth of $4.2 billion.
- His wealth growth is attributed to his mining interests in African Rainbow Minerals and Harmony Gold Mining Co.
- Motsepe's ventures now include significant investments in Australian mining, highlighting a strategic copper shift.
- He diversifies into other sectors including financial services and renewable energy through African Rainbow Capital.
- This achievement positions him among a select group of African billionaires who surpass the $4 billion net worth milestone.
Motsepe’s fortune is now estimated at about $4.2 billion, placing him among the world’s top 1,000 richest individuals, according to Forbes data, and making him the fourth South African to ever reach the $4 billion milestone.
The achievement places Motsepe in a small group of African billionaires who have surpassed the $4 billion mark, including Aliko Dangote, Africa’s richest person; Johann Rupert, the luxury-goods billionaire behind Richemont; Nicky Oppenheimer, the former De Beers heir; Nassef Sawiris of Egypt; Mike Adenuga of Nigeria; and Abdulsamad Rabiu, the Nigerian industrialist whose fortune is anchored in cement and sugar.
Mining strength underpins wealth gains
Motsepe’s rise has been driven largely by his exposure to mining assets, particularly gold. He is the founder and largest shareholder of African Rainbow Minerals Ltd. (ARM), holding a 45.9% stake, and maintains an indirect interest in Harmony Gold Mining Co., South Africa’s largest gold producer.
ARM shares have risen more than 15% since the start of the year, lifting the company’s market capitalisation to roughly $3 billion and increasing the value of Motsepe’s stake to about $1.37 billion.
Harmony Gold shares have gained over 12%, taking the company’s valuation to approximately $14.4 billion and pushing the estimated value of Motsepe’s indirect holding to around $1.7 billion.
The gains have coincided with a surge in gold prices to record levels, as investors reassess monetary policy expectations and seek refuge in safe-haven assets.
Australian copper push signals strategic shift
Motsepe’s mining exposure is no longer confined to Africa. Through his influence at Harmony Gold, the billionaire has backed a significant expansion into Australia, marking a strategic push into copper, a metal critical to electrification and the global energy transition.
Harmony recently completed the $1 billion-plus acquisition of MAC Copper Ltd., owner of the high-grade CSA Copper Mine in New South Wales, one of Australia’s longest-running underground copper operations.
The company is also advancing the Eva Copper project in Queensland, with total development spending expected to reach up to $1.7 billion.
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| Nasser et Motsepe |
From first Black billionaire to diversified capital allocator
Through African Rainbow Capital, Motsepe has stakes in financial services, technology, infrastructure, and renewable energy, including Tyme Group, a Singapore-based digital bank operating across Africa and Southeast Asia.
Despite this diversification, his wealth growth comes amid a $195 million Tanzanian mining lawsuit against his firm, highlighting the challenges of cross-border resource investments.
Nevertheless, crossing the $4 billion mark remains rare among African billionaires, underscoring how commodity exposure, strategic diversification, and influence in sport and politics can elevate industrialists to the global wealth elite.
- OLAMILEKAN OKEBIORUN
Friday, 17 October 2025
Thursday, 16 October 2025
Sunday, 16 March 2025
F1's RICHEST DRIVER WORTH £350M - MORE THAN VERSTAPPEN'S, LECLERC AND NORRIS COMBINED
As the world gears up for the 2025 F1 season, the Express reveals the richest driver on the 2025 grid, who is worth more than Verstappen, Leclerc and Norris combined.
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| the Express reveals the richest driver on the 2025 grid, who is worth £350 million. (Image: Getty) |
As the engines roar back to life for the 2025 Formula 1 season in Australia this weekend, all eyes fall on the lucky drivers who have secured one of 20 coveted seats. F1 is one of the richest sports in the world, generating some £1.9 billion annually and attracting substantial investment.
The lead-up to the new season has seen a huge number of drivers move teams and join for the first time. As a result, they have been negotiating contracts that are more than most of us will make in a lifetime. But who on the 2025 grid is the richest?
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| 2025 will see the debut of an impressive six new drivers, including Ollie Bearman and Kimi Antonelli (Image: Getty |
2025 will see the debut of an impressive six new drivers, and, as a result, their net worths are largely unknown. Andrea Kimi Antonelli, son of sportscar racer Marco Antonelli, made his F4 debut in 2022 aged just 15 and quickly climbed the ranks. His success led Mercedes to promote him straight to F2, skipping F3. The 18-year-old has now taken Lewis Hamilton’s seat and is reportedly set to earn a salary of £1.6 million in his maiden season.
Gabriel Bortoleto is also making his debut with Kick Sauber, having won F2 last year. His net worth is currently unknown but he has already secured a three-year endorsement deal with KitKat. His salary is also reportedly £1.6 million this year. French-Algerian driver Isack Hadjar will drive for Racing Bulls this season, having secured four wins and eight podiums in F2 in 2024. He is reportedly set to earn between £386k and £772k in his rookie season.
Liam Lawson will replace Sergio Perez at Red Bull this year, having replaced Daniel Riccardo at VCARB last year. The most recent estimates say he is now worth around £1.2 million. British driver Oliver Bearman made his F1 debut in Saudi Arabia last year. He also raced twice for Haas twice, taking over from Kevin Magnussen, before securing a full-time seat with Haas for 2025. The 19-year-old’s estimated net worth stands at around £1 million, having already secured partnership deals with Deus X and Eurospares, according to loveMONEY.
Australian driver Jack Doohan has been Alpine’s reserve driver for the last two seasons but has been promoted to a full-time seat this year. Son of five-time Grand Prix motorcycle World Champion Mick Doohan, he began kart racing at age nine in a go-kart given to him by Michael Schumacher. Today, his net worth is between £772k and £1.6 million.
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| Alexander Albon and George Russell both made their F1 debuts in 2019. (Image: Getty) |
Thai-British racer Alexander Albon made his F1 debut in 2019 and has raced for Red Bull and now Williams. Albon’s net worth is estimated to stand at around £2.3 million and has a brand ambassadorship with Thailand's Monsoon Valley Vineyard. McLaren’s Oscar Piastri made his F1 debut in 2023 after achieving victories in F3 and F2. The 23-year-old was the seventh highest-paid driver in 2024 after earning £17 million in salary and bonuses, not including tax and agent fees. Most recent estimates place his net worth at £3.1 million.
Yuki Tsunoda has been racing for Red Bull’s AlphaTauri (now Racing Bulls) since 2021, progressing from F4 to F1 in just four years. His estimated net worth stands at around £3.9 million. Nico Hulkenberg has raced for many teams since joining in 2010 and will be racing for Kick Sauber this year. Thanks to his work with brands including Rolex, he is now worth around £7.7 million.
British driver George Russell made his F1 debut in 2019 with Williams and now with Mercedes. In 2024, he was the sixth highest-paid driver, earning £17.8 million in salary and bonus pre-tax and agent fees. He is currently worth around £12.4 million and has secured partnerships with brands including Tommy Hilfiger. French driver Esteban Ocon made his debut in 2016, and this year, he will race for Haas alongside Bearman. The most recent estimates place Ocon's net worth at £16.2 million.
Driver championship runner-up Lando Norris has driven for McLaren since his debut in 2019 and was the third highest-paid driver last year, earning an eyewatering £27 million before taxes and agent fees. The 25-year-old is now worth around £23.3 million, owning his own gaming and lifestyle brand, Quadrant.
Pierre Gasly will race for Alpine again in 2025, having joined the sport in 2017. He was the 10th highest-paid driver of 2024 (£9.3 million) and is now worth around £25.5 million. Monaco-born Charles Leclerc was promoted to a coveted Ferrari seat during his rookie season with Sauber in 2018 and was the fifth highest-paid driver last year at £20.9 million. His net worth is estimated at £38.7 million.
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| Lewis Hamilton has taken Carlos Sainz's seat at Ferrari for 2025. (Image: Getty) |
Lance Stroll made his F1 debut in 2017 with Williams and now races for Aston Martin. The team is owned by his father, billionaire businessman, Lawrence Stroll, and Stroll is now said to be worth some £38.7 million. Spanish driver Carlos Sainz has raced in F1 since 2015, having joined the likes of McLaren, Ferrari and now Williams. Son of legendary rally driver Carlos Sainz Sr, he is net worth is also estimated at £38.7 million.
Readers may be surprised to find the current champion Max Verstappen as only the third richest driver on the 2025 grid, despite his successes. Joining Toro Rosso at just 17, he was the youngest driver to ever compete in F1 at the time. Unsurprisingly, he was the highest-paid driver in F1 in 2024, earning a staggering £58 million in salary and bonuses pre-tax. He is now said to be worth an incredible £168 million thanks to impressive endorsements with brands including Heineken and Oracle.
Two-time world champion Fernando Alonso has raced in F1 on and off since 2001 and joined Aston Martin in 2023. The Spanish driver’s total net worth is estimated at £200 million, making him the second-richest driver in the sport, having earned £21.3 million last year, pre-tax and agent fees.
At 40-years-old, seven-time world champion Lewis Hamilton is said to be worth up to £350 million—£100 million more than Verstappen, Leclerc, and Norris combined. Having made a shock switch to Ferrari for this year, his new contract means he will be earning an eyewatering £77.3 million per year.
- EMILY WRIGHT
Tuesday, 28 November 2023
JOSHUA SECOND-RICHEST ACTIVE BOXER
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| Getty |
In the realm of boxing, the roar of the crowds and the knockout punches often translate into multi-million dollar paychecks, propelling fighters into the upper echelons of wealth. Standing tall among the world’s wealthiest active boxers is the British-Nigerian heavyweight powerhouse, Anthony Joshua, commanding a staggering net worth of $80m (N80bn), making him the second-richest pugilist globally.
Tuesday, 29 August 2023
Monday, 17 April 2023
Friday, 21 May 2021
Monday, 18 January 2021
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