South African billionaire Nicky Oppenheimer gains $130 million in August

South African billionaire Nicky Oppenheimer’s net worth increased by $130 million in August following a $200-million loss in July due to the revaluation of his diverse private equity investment portfolio.

According to data tracked by Billionaires.Africa, Oppenheimer’s net worth rose by $130 million in August from $8.3 billion at the start of the month to $8.43 billion at the time of writing.

Oppenheimer derives the majority of his net worth from the 2012 sale of his family’s 40-percent stake in De Beers, the world’s largest diamond producer, to mining giant Anglo-American.

Despite the recent increase in his net worth, his wealth assessment still falls short of where the figure stood in early July, when it fell by $200 million from $8.5 billion to $8.3 billion.

The multimillion-dollar gain in Oppenheimer’s net worth in August is the result of a continuous increase in the market value of his private equity investments.

The South African billionaire, who joined his family business at the age of 23 after graduating from Oxford, where he studied politics, philosophy, and economics, maintains private equity investments in Africa, Asia, the United States, and Europe through Stockdale Street in London and Tana Africa Capital in Johannesburg.

Several days ago, Tana Africa Capital announced a minority investment in Sundry Markets Limited, one of Nigeria’s fastest growing modern grocery retailers.

Sundry Markets was founded seven years ago by Nigerian businessman Ebele Enunwa to operate the market square brand of supermarkets and convenience stores.

The recent bump in Oppenheimer’s net worth brings his year-to-date wealth gains to $475 million, thus helping him retain his status as one of those few African billionaires who have seen considerable increases in their wealth since the beginning of 2022.

The gains in his net worth also cement his status as not only South Africa’s second-richest man, but also as one Africa’s richest billionaires. He continues to trail South African luxury goods mogul Johann Rupert, who is presently worth $9.48 billion.