He’s the founder and CEO of the productivity software https://cointelegraph.com/news/louisiana-accepts-first-crypto-payment-bitcoin-lightning company Notion, which was recently valued at a staggering $10 billion (£7.9bn). Pavel Durov, who’s been dubbed "Russia’s Mark Zuckerberg", founded VKontakte (also known as VK) at the age of 22. Kishin is the CEO of RB Capital, which currently holds around $5 billion (£4bn) in assets.
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In February 2016, ARM put a further $148 million bail out in place to preserve their broad-based black economic empowerment status. In March 2016, ARM reported that profits had been halved due to lower commodity prices. ARM also has had a 50% stake in Morobe Mining Joint Ventures of Papua New Guinea. MMJV has operations in Hidden Valley and Wafi-Golpu in Morobe Province approximately 50 kilometers south-west of Lae, Papua New Guinea. Last week Rain owner and billionaire Patrice Motsepe announced that the data service provider had proposed a merger with Telkom in bid to MTN’s designs to acquire Telkom. Motsepe runs a diversified business network that ranges from mining, financial services, telecom, renewables to investments in fledgling companies through Africa Rainbow Capital (ARC) Investments.
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Johannes Mouton and his family own a 29.35-percent stake in financial services giant PSG Group. According to the website, the list consists of investors on the exchange who jointly control 1.05 percent of the bourse’s $1.2 (about R17.5) market capitalization, which amounts to $12.6 billion. Last month, country’s second biggest telecom company MTN said it was in talks with Telkom in a stock or cash-and-shares deal that could create the country’s biggest telecom firm overtaking bigger rival Vodacom. Analysts said the acquisition was unlikely to impress the Competition Commission as it would create a virtual duopoly in the country. Patrice Motsepe, founder of African Rainbow Minerals, became Africa’s first black billionaire in 2008.
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Mr Motsepe, also chairman of the National Federated Chamber of Commerce, is one of a small number of high-profile black executives to have penetrated the upper echelons of big business. The government is under pressure to redress the economic imbalance left by decades of apartheid rule, which excluded the country’s huge black majority from the economy. With a fortune of $3.5 billion (£2.6bn), 22-year-old Kevin David Lehmann is Germany’s youngest billionaire by far.
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ARC is wholly owned by Ubuntu-Botho Investments (UBI), which was created in 2003. African Rainbow Minerals (ARM) is a diversified mining company based in Johannesburg, South Africa. The company was founded in https://africa-gold-capital.org/ 2004 by billionaire businessman Patrice Motsepe, who is the current chairman of the company. Motsepe is also the founder and chairman of African Rainbow Capital (ARC), an investment firm with interests in financial services, asset management, and other sectors.
- He’s also the youngest Indian signatory of the Giving Pledge and has vowed to donate half of his wealth to good causes.
- Motsepe’s wealth comes primarily from his ownership of African Rainbow Minerals, which is a major mining company in Africa.
- From Nigeria to South Africa, these titans of industry have amassed fortunes through their ventures spanning various sectors.
- The project has seen beneficial spin-offs, whereby a number of graduates have been sponsored or ‘adopted’ by independent companies to further their careers in the financial industry.
- Zahan now sits on the board of the Mumbai construction giant Shapoorji Pallonji Group, which his uncle, Shapoor Mistry chairs.
He runs OCI, one of https://www.forex.com/en-us/ the world’s largest nitrogen fertilizer producers, with plants in the U.S. and Europe. Additionally, Sawiris holds a 5% stake in New York-listed Madison Square Garden Sports, which owns the NBA’s New York Knicks and NHL’s Rangers. ARC is a majority black-owned investment holding company which seeks to utilize its empowerment credentials, strong balance sheet and the track record of its leadership and brand to invest in financial services distribution businesses.
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However, the young billionaire appears to have his feet firmly grounded, recently claiming in an interview on The SuperPower Podcast that his wealth is "all on paper" and "none of it is real". Russia’s youngest billionaire, 36-year-old Said Gutseriev, was given stakes in the retail and financial businesses of Safmar Group by his oligarch father, Mikhail Gutseriev. In the years since, Motsepe has diversified his business interests, most notably by launching the private equity firm African Rainbow Capital in 2016. Additionally, he owns Mamelodi Sundowns Football https://www.ussc.gov/sites/default/files/pdf/training/annual-national-training-seminar/2018/Emerging_Tech_Bitcoin_Crypto.pdf Club and was appointed president of the Confederation of African Football in 2021. At the grand age of 62, mining magnate Patrice Motsepe is South Africa’s youngest billionaire.