South Africa's richest blackman to give away big slice of family wealth
30 January 2013 | 7364 Views
Mining billionaire Patrice Motsepe announced today that he and his family are giving half the funds generated from assets owned by them to the Motsepe Family Foundation.
The funds will be used to uplift those less well off, the family said in a statement.
It is not yet clear how much money this amounts to.
With Basic Education Minister Angie Motshekga present at the announcement, in Johannesburg, Motsepe said education remained one of the best investments in any country.
"We want to build a track record where ordinary South Africans can really feel that they are making a difference," Motsepe said.
"Let me emphasise that the challenges are huge," he said, adding that the money donated could not significantly deal with the challenges that face South Africa. However, it was important for those who were successful to help the less fortunate.
"We are not going to allow you to suffer alone."
Late last year, Motsepe handed out R10-million to rural communities and churches.
That windfall brought the total amount of money Motsepe has donated since the inception of his African Rainbow Minerals black economic empowerment trust in 2005 to R85-million.
The largest single beneficiary was the National Women Development Trust, which pocketed R1.4-million.
Nehawu and Sadtu also smiled all the way to the bank when Motsepe gave R970,000 to each organisation. This means they have each received R8.5-million since the inception of the trust.
Other beneficiaries included rural development trusts and churches - including the Zion Christian Church, Grace Bible Church and Methodist Church. The SA Council of Churches also received R1-million.
In his announcement today, Motsepe said he had joined the Giving Pledge, launched by Microsoft founder Bill Gates and investor Warren Buffett, in terms of which the wealthy are asked to give away at least half their wealth.
Motsepe's statement read: "I decided quite some time ago to give at least half the funds generated by our family assets to uplift poor and other disadvantaged and marginalised South Africans, but was also duty-bound and committed to ensuring that it would be done in a way that protects the interests and retains the confidence of our shareholders and investors".
Source: BDLive and Sowetan
Most Read Stories
- PICTURE: White executives join Malema's EFF | 47332 views
- WATCH: Grace Mugabe humiliated by Zanu-PF youths | 29126 views
- Mugabe now a grandfather at 92 | 24973 views
- April 2016 public servants pay dates announced | 24680 views
- South Africa to dish out work visas to Zimbabweans | 22941 views
- 'Grace Mugabe is just a house wife, a typist,' says Mujuru | 21778 views
Staff Reporter | 04 May 2016 | 358 Views
Tendai Ruben Mbofana | 03 May 2016 | 788 Views
E G Cross - Shadow Minister of Local Government | 03 May 2016 | 772 Views
McKay Tshuma | 03 May 2016 | 2703 Views
Thobekile Zhou | 03 May 2016 | 950 Views
Sparkleford Masiyambiri | 03 May 2016 | 508 Views
Patrick Guramatanhu | 03 May 2016 | 531 Views
Matabeleland Institute for Human Rights | 03 May 2016 | 1881 Views
Staff Reporter | 03 May 2016 | 684 Views
Staff Reporter | 03 May 2016 | 1472 Views
Staff reporter | 03 May 2016 | 1114 Views
Staff reporterr | 03 May 2016 | 2799 Views
Thobekile Zhou | 03 May 2016 | 3414 Views
Stephen Jakes | 03 May 2016 | 1485 Views
Staff reporter | 03 May 2016 | 3060 Views
Staff reporter | 03 May 2016 | 4913 Views
Staff reporter | 03 May 2016 | 2566 Views
Staff reporter | 03 May 2016 | 1799 Views
Staff reporter | 03 May 2016 | 2223 Views
Staff reporter | 03 May 2016 | 1875 Views
Staff reporter | 03 May 2016 | 1331 Views
Staff Reporter | 03 May 2016 | 2280 Views
Noleen Makhurane | 03 May 2016 | 1331 Views
Elizabeth Tsuro | 03 May 2016 | 1351 Views
Leonard Ncube | 03 May 2016 | 783 Views
Thandeka Moyo | 03 May 2016 | 1191 Views
Mashudu Netsianda | 03 May 2016 | 1787 Views
Staff Reporter | 03 May 2016 | 3019 Views
Mashudu Netsianda | 03 May 2016 | 854 Views
Lloyd Gumbo | 03 May 2016 | 877 Views
Staff Reporter | 04 May 2016 | 408 Views
Vusmann | 03 May 2016 | 661 Views
Tawanda Marwizi | 03 May 2016 | 866 Views
Bongani Ndlovu | 02 May 2016 | 1581 Views
DJ-Sticha | 02 May 2016 | 1400 Views
Staff reporter | 01 May 2016 | 1805 Views
Mafu Sithabile | 29 April 2016 | 6496 Views
DJ-Sticha | 29 April 2016 | 2098 Views