One of Africa’s wealthiest billionaires, Nicky Oppenheimer, has seen his net worth increase by $750 million since the start of the year, as investments made through his private equity firms rise in value.
This translates to an average gain of $2.9 million per day for the billionaire since Jan. 1.
Oppenheimer maintains private equity investments in Africa, Asia, the United States and Europe through the London-based Stockdale Street and Johannesburg-based Tana Africa Capital. He has exited his position in key companies, leading to the realized gains.
The recent surge in his wealth can be attributed to the growth in the market value of his private equity investments across Africa.
As of the time of the writing of this report, Oppenheimer, the second richest man in South Africa behind Johann Rupert, had a net worth of $7.9 billion, making him the 336th richest man in the world.
Data retrieved from the Bloomberg Billionaires Index revealed that his net worth since the start of the year has increased from $7.15 billion on Jan. 1 to $7.90 billion on Sept. 19. This translates to an increase of $750 million in his net worth in 260 days.
Information provided on Tana Africa Capital’s website revealed that the private equity firm in 2021 exited its position in Regina, Egypt’s second-largest pasta manufacturer.
Following the decision to exit its investment position in the leading pasta maker this year, Oppenheimer’s private equity firm is yet to reveal the total gains or losses that it realized from Regina since it invested in the company in 2012.
On Aug. 12, Billionaires.Africa reported that the billionaire lost $200 million in 41 days.
The $200-million loss can be linked to fluctuations and a downtrend in Oppenheimer’s net worth between July 2 and Aug. 12.
Meanwhile, since the start of the year, his net worth has increased by 10.5 percent, totaling $750 million.