Nicky Oppenheimer, South Africa’s second-richest man, is redoubling efforts to reclaim the title of South Africa’s wealthiest billionaire.
His current push to reclaim the top rank in Africa’s most industrialized economy is reflected in the multimillion-dollar net-worth bump that he has experienced since the start of 2022, owing to the revaluation of his well-diversified investments.
Since the start of the year, the billionaire, who derives the majority of his wealth from the sale of a 40-percent interest in De Beers for $5.2 billion in 2012, has seen his net worth climb by more than $425 million.
The current increase in his fortune can be attributed to the revaluation of his billion-dollar investments made through private equity firms in Africa, Asia, the United States and Europe.
Data gathered by Billionaires.Africa revealed that Oppenheimer’s net worth has climbed by 5.3 percent from $7.95 billion at the start of business this year to $8.38 billion as of the time of writing thanks to his investments through the London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
The billionaire has no plans to quit his positions in Stockdale Street and Tana Africa, as he seeks to compound capital over time to generate exceptional returns from his investments.
Tana Africa exited its position in Regina, Egypt’s second-largest pasta producer, to maximize returns on current investments and capitalize on opportunities as they arise in the market.
Following Tana Africa’s first investment in 2012, its recent exit decision is a deliberate move to extract value from Regina, which ranks as one of the largest producers of durum wheat flour.
With a net worth of $8.38 billion, Oppenheimer ranks as the 288th richest man in the world.
