South Africa's First Black Billionaire Believes Entrepreneurs Should Take Heed To The Elon Musk Method
Photo Credit: Fadel Senna

South Africa's First Black Billionaire Believes Entrepreneurs Should Take Heed To The Elon Musk Method

From billionaire to billionaire, Patrice Motsepe has formed an opinion on Elon Musk.

As South Africa’s first Black billionaire, Motsepe said that entrepreneurs can learn a thing or two from the Tesla CEO, which could most likely increase their net worth and the success of their business.

According to Motsepe, Musk’s strong belief in himself is a good thing.

“I’m not saying [entrepreneurs] must be cocky and arrogant . . . but I think [Musk] believed so much in what he was doing . . . he succeeded,” said Motsepe.

A Peek Into Patrice Motsepe’s Net Worth

Motsepe made history when he became the first Black billionaire in Africa back in 2008. His fortune was made possible by his lucrative stance in the mining industry.

Much like other Black founders he faced adversity but managed to persevere and come out on top.

Although many investors did not believe in Motsepe’s vision, that didn’t stop him. He still managed to purchase “unsuccessful mines” which soon became the key to his booming business.

“If you look at the most successful entrepreneurs in the world, the common feature amongst the majority of them is that when they started, everybody said to them . . . this thing won’t succeed,” he shared.

Why Elon Musk?

Musk made headlines this week after it was announced that he would be purchasing Twitter for about $44 billion. 

According to Forbes, at 17-years-old, Musk immigrated to Canada but was born in South Africa, where he resided up until the move. Fast-forward to the present day, Musk is the founder of SpaceX, a private spaceflight company that sends satellites and people to space including NASA crews.

He is also the CEO of Tesla, a company founded in 2003 by a group of engineers who were on a mission to accelerate the world’s transition to sustainable energy. Today, the company is worth over a trillion dollars, CNN reports.