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Patrice Motsepe’s wealth falls $100M as ARM cuts jobs
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Patrice Motsepe’s wealth falls $100M as ARM cuts jobs
Key PointsThe South African billionaire’s fortune dipped to $3.4 billion amid falling mining stocks and operational headwinds.African Rainbow Minerals plans to close its loss-making Cato Ridge Works, reflecting pressure in South Africa’s mining sector.ARM faces a WWF lawsuit and reported a 49% drop in profit due to falling iron ore and PGM prices.Just a week after his fortune climbed to $3.5 billion, Patrice Motsepe — Southern Africa’s richest B…
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