Patrice Motsepe mansion for sale

Net Worth: $1.3 billion

Among the black businessmen who have prospered from South African government policies, no star shines more brightly than Patrice Motsepe, the 47-year-old head of the African Rainbow Minerals (ARM) mining group. Forbes magazine estimates his personal fortune at $1.3bn, an amount that makes him one of Africa’s most powerful figures.

Like most black South African tycoons, Motsepe, the son of a small shopkeeper, owes some of his prominence to the Black Economic Empowerment (BEE) policies that have led mainly white corporates to hand over some R500bn ($67bn) in equity to black consortia. Back in the 1990s, with legislation favoring greater black control over business in the wings, Anglo American, the international mining conglomerate, helped finance a deal that transferred ownership of underperforming gold mines to a small mining company Motsepe had established in 1994. He used this good fortune to cut costs and increase productivity in the mines, before using the proceeds of a stock market flotation to liquidate debt.

By 2003, when Harmony Gold, the mining group, sought to unload a stake to a black partner, ARM (in which Motsepe’s family trust owns 43.1%) was ideally placed to benefit, acquiring a 19.8% share in the company. It was a case of excellent timing. Between 2007 and 2008, shares in Harmony Gold doubled in value. By March 2008, Motsepe’s portfolio of assets, which also includes a 5.5% chunk of Sanlam, the life assurance company, was worth a massive $2.5bn.

Last year’s downturn in prices cut the value of his assets in half, but Motsepe’s fortunes still tower above those of his local and regional rivals. It allows him a comfortable, although not extravagant lifestyle – he has just one house – and has enabled him to finance Mamelodi Sundowns, a successful football team.

Motsepe was born in Soweto and after studying law, became the first black partner at Bowman Gilfillan, a Johannesburg law firm. Although he is not as closely involved with the governing African National Congress (ANC) as many other tycoons, his family is connected to the ruling elite, with one sister married to Cyril Ramaphosa, an ANC leader, and another to Jeff Radebe, the country’s justice minister

http://www.chairmanking.com/african-billionaires-patrice-motsepe-20100102/

Patrice Motsepe mansion for sale

Luxury Villa For Sale in Cape Town, Western Cape South Africa

Massive Luxury Villa In Prime Location Entertainers Paradise

Asking Price: $4,950,000 USD  (Negotiable)

An Entertainers Paradise.!! Premium Location Villa, ultimate Privacy with Massive open spaces, with flow which is unbeatable in the area.
This Villa has been Featured in The Motion Picture "THE DEAL" with Meg Ryan, and William H Macey
Truly A Masterpiece in this affluent area of Camps Bay.
You are looking at one of the Largest and most desirable luxury Villas in Camps Bay,Cape Town Featured in numerous Glossy Magazines.
Not a cent to be spent

About This Property

Category: Mansions Address: Camps Bay Camps Bay Cape Town Western Cape 8005 South Africa For Sale By: Owner Construction Year: 2004 Area: 1,988 m2

Bedrooms: 5 Bathrooms: 5.5 Sleeps: 10 Stories: 2 Parking Spaces: 12

Features - Amenities

Appliances Pet Friendly Maid's Quarters Maid's Bathroom Laundry Room Studio Room Pool Gym/Spa Balcony Terrace Patio Cable TV Ocean View Lake View Mountain View Ocean Waterfront This Villa Offers A Perfect Vacation Home, Corporate Hospitality Retreat, Guest House, Family Home, Or Simply An Outstanding Investment With Income.

This Villa Has Been Featured In Various Block Buster Movies, The Latest Example Is The Deal Starring Meg Ryan, William H Macey, Plus Various Tv Shows, Glossy Home Magazines, Plus More. Under-Floor Heating Throughout The Villa Butlers & Maid Cottage On The Estate 9 Balconies With Spectacular Sea And Mountain Views 5 Luxury Carpeted Spacious Bedrooms With Large Built In Cupboards, En-Suite Travertine Bathroom Containing Toilet, Bath Bidet And Shower Developed On Double Sized Stand/lot (Rare) – 1050m² Living Area Sound Proof Home Cinema Large Scullery With Double Sink, Dishwasher, Washing Machine And Tumble Drier Custom Fitted Business Centre Featuring Computer With Adsl Internet Connection, Printer And Fax. Hotel Style Stainless Steel Walk-In Cold Room And Spacious Shelved Walk-In Pantry 360° Security Camera’s On Exterior Of Property,infra Red Beams And Motion Detectors Stainless Steel And High End Rosewood Kitchen Featuring 5 Plate Siemens Gas Cooker, 2 Ovens And Microwave 2 Fireplaces Downstairs Entertainment Area Featuring A Barbeque, Swimming Pool And Garden With Stunning Views Surround Sound Piped Music On Ground Floor And Outdoors (controlled From Bar) Extensive Home Gymnasium With Sprung Wooden Floor

4 Lock Up Garages, Parking For 12 Vehicles On Site Sunken Wine Cellar And Bar Overlooking Entertainment Area With Pool Table And Natural River Large Infinity Rim Flow Swimming Pool Large Outdoor Wind Free Patio With Built In Barbeque Library Italian Travertine And Imported Hans Grohe Fittings Throughout Children’s Playground With Jungle Gym Accross River Air Conditioned Bedrooms Located In A Quiet Cul De Sac. Piece And Tranquility A Given. Plus So Much More.... Please No Time Wasters!! There Are Approved Plans For An Additional 2 Bedrooms, To Make A Total Of 7 Bedrooms. Another Bedroom Could Also Be Built However No Approved Plans Have Been Submitted. Rates & Taxes Are Approx Zar 5,000 Per Month. ( £ 450 ) The Home Currently Employs A Qualified Butler, Maid, And Various Maintenance Contractors, Eg Garden, Window Cleaning, And Security Etc. As Mentioned The Owner Spared No Expense, And Was Articulate In Details’ As He Is An Ex Hotelier. A Few Examples: The Double Garage, Was Made Wider And Larger To Avoid Vehicles Bumping Doors ( A Common Nuisance In Standard Garages). The Columns, Beams, And Walls Were Built With Additional Steel, And Concrete Making The Structure Extraordinary Strong And Robust. The Design Of The Home Was Based On The Following: Security, Privacy, Sun, Views, And Weather. For Example The Bbq Area Is In A Wind & Rain Free Area Allowing All Year Dining. There Is A Symphony Of Glass And Steel Allowing Maximum Natural Light. The Natural River Is Incorporated Into The Home, Plus Plus. These Are Just Samples. There Is So Much More To Tell...... This Prestigeous Property Makes An Outstanding Investment In The “Monaco Of Cape Town “and Any New Proud Owner Will Not Need To Spend One Cent.

Source: http://www.viviun.com/