Patrice Motsepe

Mining magnate is South Africa's first and only black billionaire. Net worth up this year by $1 billion as a result of rising stock prices. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $1.5 billion (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in platinum, nickel, chrome, iron, manganese, coal and gold. Benefited from South Africa's Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a stake in Sanlam, a publicly traded financial services company outside Cape Town where he sits on the board.