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According to Forbes, Motsepe became Africa's first Black billionaire in 2008 because he made a lot of money from the mining business.
But now, his money has gone down from $3.2 billion at the start of the year to $2.3 billion now.
The reason for this big drop in Motsepe's money is because the company he owns a big part of, African Rainbow Minerals (ARM), has not been doing well.
ARM is a big mining company in South Africa that deals with things like iron, coal, copper, gold, and platinum.
The value of ARM's shares on the Johannesburg Stock Exchange has gone down from $15.22 on January 1 to $8.99 now.
This has made the part of the company that Motsepe owns worth less, and that's why he has lost so much money.
Even though his money has gone down, Patrice Motsepe is still the richest Black person in Southern Africa and one of the richest people in Africa. He is also one of the richest Black people in the world.
Motsepe is going to get a dividend (which is like a bonus for owning shares in a company) of $56.5 million from his part of ARM.
But this is less than the $103 million he got last year because ARM didn't make as much profit this year. The dividend will be given to him on October 9, 2023.