African billionaire Patrice Motsepe has joined the league of luxury wine farm owners, according to reports by News24. He reportedly purchased 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 million and $7.9 million in cash, more than what the former owner Riaan Stassen did in 2015 when the property was first purchased.
Startup Mag reports that the farm’s vineyards, situated on the northern slopes of the Helderberg Mountains in Stellenbosch, are planted on ancient, decomposed granite soils, consisting of deep fertile Oakleaf and Tukulu profiles.
Wine experts have welcomed Motsepe’s reported venture into the wine industry, describing it as a good move.
“This will be good in terms of advertising the brand and making it more attractive to other markets,” Wines of South Africa Communications Manager Maryna Calow said. “This could build strong relationships between Gauteng and Stellenbosch. It will also grow the tourism industry in that area.”
South Africa’s first Black billionaire Motsepe is well known for his numerous businesses. What is not known to many is that he is a sports investor, particularly in football and rugby.
The billionaire is the bankroller and founder of South African football club Mamelodi Sundowns. Sundowns play in South Africa’s elite league and are onetime champions of the Confederation of African Football (CAF) Champions League. On the domestic front, they have won the South African Premiership a record 10 times.
Also, the billionaire is the joint major shareholder with a 37 percent stake in the Pretoria-based Bulls, currently the most successful rugby team in South Africa, according to the AFP.
Motsepe, 59, was the first Black African to be listed on the Forbes list of billionaires. He is worth $3 billion on the 2021 Africa billionaire net worth, making him the ninth richest man on the continent. He is keen to build partnerships and sponsorship within the private sector to boost Caf.
Motsepe has a BA law degree (University of Swaziland), LLB (Wits University), Doctor of Commerce (honoris causa) (Wits University), Doctor of Commerce (honoris causa) (Stellenbosch University), Doctor of Management and Commerce (honoris causa) (Fort Hare) and Doctor of Laws (honoris causa) (the University of Eswatini, formerly the University of Swaziland).
Through the Motsepe Foundation, founded in 1999, he is giving back to society. The foundation aims to improve the quality of life for all, including the unemployed, women, youth workers, and marginalized communities in South Africa; support projects that have the potential to assist beneficiaries to become self-reliant and build non-racialism in South Africa; promote respect for diversity and encourage all races and all people of different faiths and cultures to move forward.