South Africa’s first black billionaire just bought a luxury wine farm for over $5million, reports say

South African billionaire Patrice Motsepe has joined the league of luxury wine farm owners, according to News24. He reportedly bought the luxury wine farm called Hidden Valley near Stellenbosch and Somerset, South Africa.

According to News24, the purchase includes the purchase of a 28-hectare farm listed for sale at $10 million but was acquired for between $5.5 and $7.9 million in cash, more than the former owner Riaan Stassen did in 2015 when the property was first created. bought.

Startup Mag reports that the farm’s vineyards, located on the northern slopes of the Helderberg Mountains in Stellenbosch, are planted on ancient decomposed granitic soils, made up of deep, fertile oak leaf and Tukulu profiles.

Wine experts hailed Motsepe’s venture into the wine industry, describing it as a good move.

“It will be a good thing in terms of publicizing the brand and making it more attractive to other markets,” said Maryna Calow, communications manager at Wines of South Africa. “It could build a strong relationship between Gauteng and Stellenbosch. This will also develop the tourism industry in this region.

South Africa’s first black billionaire, Motsepe, is well known for his many businesses. What many do not know is that he is a sports investor, especially in football and rugby.

The billionaire is the financier and founder of South African football club Mamelodi Sundowns. The Sundowns play in South Africa’s elite league and are former Confederation of African Football (CAF) Champions League champions. Domestically, they have won the South African Premiership a record 10 times.

Additionally, the billionaire is the co-major shareholder with a 37% stake in the Pretoria Bulls, currently South Africa’s most successful rugby team, according to AFP.

Motsepe, 59, was the first black African to make the Forbes list of billionaires. He is worth $3 billion on the net worth of African billionaires in 2021, making him the ninth richest man on the continent. He is keen to forge partnerships and sponsorships within the private sector to energize Caf.

Motsepe holds a BA in Law (University of Swaziland), LLB (Wits University), Doctor of Commerce (honoris causa) (Wits University), Doctor of Commerce (honoris causa) ( Stellenbosch University), a Doctorate in Management and Commerce (honoris causa) (Fort Hare) and Doctor of Laws (honoris causa) (University of Eswatini, formerly University of Swaziland).

Through the Motsepe Foundation, founded in 1999, he gives back to society. The aim of the foundation is to improve the quality of life for all, including the unemployed, women, young workers and marginalized communities in South Africa; support projects that have the potential to help beneficiaries become self-reliant and strengthen non-racism in South Africa; promote respect for diversity and encourage all races and people of different religions and cultures to come forward.

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Jean H. Vannatta