First black South African billionaire donates fortune to poor

African Rainbow Minerals Executive Chairman Motsepe attends a session at the World Economic Forum in DavosJOHANNESBURG (Reuters) – South Africa's first black billionaire, Patrice Motsepe, on Wednesday said he has signed up for the Giving Pledge, becoming the first African to join some of the world's wealthiest people in donating vast sums of personal wealth to the poor. 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. …