Patrice Motsepe, Africa’s first black billionaire, has seen his net worth drop by $900 million this year, falling from $4.3 billion to $3.4 billion. The decline is primarily driven by a sharp sell-off in South African mining stocks, specifically Harmony Gold and African Rainbow Minerals (ARM), where Motsepe holds significant controlling stakes. Despite aggressive expansion efforts by both companies, shares have plummeted by approximately 29% and 35% respectively over the last six months, causing Motsepe to slip to fifth place on South Africa’s wealth rankings.