Mining Magnate Becomes First African to Sign Giving Pledge

Patrice Motsepe, the first black South African to amass a billion-dollar fortune, said Wednesday that he has signed the Giving Pledge, vowing to donate at least half of his family’s assets to its charitable foundation, says Reuters.

The founder of mining enterprise African Rainbow Minerals, Mr. Motsepe is the first African to join the philanthropic effort launched by Warren Buffett and Bill and Melinda Gates to persuade billionaires to give away at least half of their money. Most of the nearly 100 signers to date are American.

Announcing the pledge with his wife, Mr. Motsepe said his donations will primarily be used to bolster health care and education in South Africa and that he would press wealthy compatriots to make similar giving commitments.

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