Billionaire Patrice Motsepe says top entrepreneurs show confidence worthy of Elon Musk

The most successful entrepreneurs boast a confidence in their businesses that can border on arrogance – like that of the world’s richest man, Elon Musk – said Patrice Motsepe, Africa’s first black billionaire, during of the Forbes Under 30 Summit Africa in Botswana.

Main facts

  • At the Summit, Patrice Motsepe spoke about an anecdote told to him by billionaire venture capitalist John Doerr, who, according to Patrice Motsepe, thought Elon Musk was “unimpressive…very arrogant” during a first introductory meeting.
  • “I’m not saying that [les entrepreneurs] must be arrogant, but I think Elon Musk believed so much in what he was doing that he succeeded,” said Patrice Motsepe, who used the anecdote to inspire entrepreneurs to show confidence in their projects.
  • Patrice Motsepe, who became the continent’s first black billionaire in 2008, thanks to a fortune amassed in the mining industry, said he too faced strong opposition from investors who did not believe not so blindly in his vision to buy unsuccessful mines which later became key to building his business empire.

important quote

“If you look at the most successful entrepreneurs in the world, the common characteristic of the majority of them is that when they started, everyone told them…that this thing wouldn’t succeed,” said declared Patrice Motsepe.

Important figure

$3 billion. This is the amount of Patrice Motsepe’s fortune, according to the latest estimates by Forbes, making him the third richest person in South Africa. Patrice Motsepe is now president of the Confederation of African Football, the governing body for sport on the continent.

The context

Elon Musk was born in South Africa and lived there until he immigrated to Canada at the age of 17. Tesla and SpaceX CEO Elon Musk founded SpaceX and joined Tesla in the early stages of building electric vehicles.

Article translated from Forbes US – Author: Derek Saul

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