Why African Entrepreneurs Must Exude Musk’s Confidence – First Black Billionaire, Patrice Motsepe

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First Black Billionaire, Patrice Motsepe

The most successful entrepreneurs boast a belief in their businesses that can border on arrogance—like that of the world’s wealthiest man, Elon Musk—Africa’s first black billionaire.

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The belief shouldn’t make entrepreneurs cocky and arrogant but a mindset that they need to succeed in their entrepreneurial journey and using the anecdote as a way to instruct entrepreneurs to exclude confidence in their ventures.

The continent’s first black billionaire in 2008, Patrice Motsepe said during Forbes Under 30 Africa Summit in Botswana that he, too, faced significant pushback from investors who did not have the same blind belief in his vision to buy unsuccessful mines that later became the key to building his business empire.

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“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 is this thing won’t succeed,” Motsepe said.

According to Forbes’ latest estimates, Motsepe worth $3 billion, making him the third-wealthiest person in South Africa. Motsepe now serves as president of the Confederation of African Football, the continent’s governing body for the sport.

Musk was born in South Africa and lived in the country until he immigrated to Canada at 17 years old. The CEO of Tesla and SpaceX, Musk founded SpaceX and joined Tesla at the electric vehicle maker’s early stages.

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