South Africa's First Black Billionaire Pledges To Donate Half His Wealth | WAMU 88.5 - American University Radio

NPR : News

South Africa's First Black Billionaire Pledges To Donate Half His Wealth

If you were looking for good news, here's a bit of it from South Africa: Patrice Motsepe, the country's first black billionaire, announced today that he will donate half his fortune in order to help the poor.

Reuters reports:

"Mining magnate Motsepe, with assets estimated by Forbes magazine of $2.65 billion, said he is making the pledge to benefit the millions of South Africans who have seen little gain in their personal fortunes since white-minority rule ended in 1994.

"The Giving Pledge is a philanthropic initiative started by U.S. billionaire Warren Buffet along with Bill and Melinda Gates that has recruited nearly 100 billionaires, mostly Americans, who have pledged to donate the majority of their wealth to charity."

According to The Financial Times, Motsepe's wife, Precious, said that his wealth would be given away throughout his lifetime.

Motsepe, the Times adds, amassed his fortune as the chairman of African Rainbow Minerals, a mining company. He is South Africa's fourth richest man. The fifth, reports the Times, is his brother-in-law Cyril Ramaphosa.

There's no word whether Ramaphosa will join Buffet's Giving Pledge.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Not My Job: We Ask A San Francisco Drag Queen About Queens, N.Y.

We've invited Peaches Christ, Queen of San Francisco Drag Queens, to play a game called "Fuggedaboutit!"
NPR

Key Chain Blood-Alcohol Testing May Make Quantified Drinking Easy

Some of us now monitor our steps, sleep and calorie intake with wristbands and apps. So why not track blood-alcohol levels? We explore the next frontier in the self-measurement movement.
NPR

'I Love Your Country,' New House Member Tells U.S. Officials

Rep. Curt Clawson, a Republican from Florida, tells subcommittee witnesses from two U.S. agencies, "I'm familiar with your country; I love your country."
NPR

Key Chain Blood-Alcohol Testing May Make Quantified Drinking Easy

Some of us now monitor our steps, sleep and calorie intake with wristbands and apps. So why not track blood-alcohol levels? We explore the next frontier in the self-measurement movement.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.