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South African billionaire Nicky Oppenheimer’s net worth has dropped by $100 million since the start of the year, despite recording a whopping $400 million in wealth gains in the first six months of 2022.
Oppenheimer, South Africa’s second-richest man, derives the majority of his fortune from private equity investments in Africa, Asia, the United States, and Europe through Stockdale Street in London and Tana Africa Capital in Johannesburg.
He has been involved in private equity for decades, although many of his private equity investments were made after his family’s 40-percent stake in De Beers, the world’s largest diamond producer, was sold to mining giant Anglo-American in 2012.
Oppenheimer’s net worth was $7.95 billion when the year began, according to data from the Bloomberg Billionaires Index, which tracks the fortunes of the world’s 500 wealthiest people.
According to research conducted by Billionaires.Africa, his net worth has dropped by $100 million, or 1.3 percent, since the start of the year, from $7.95 billion on Jan. 1 to $7.85 billion at the time of writing this report on Oct. 5.
In the month of September alone, the leading businessman, who ranks as one of Africa’s wealthiest men, saw his net worth slump by $300 million, from $8.25 billion to $7.83 billion.
Despite the drop in his net worth, Oppenheimer still ranks as the second-richest man in South Africa, trailing only luxury goods magnate Johann Rupert, who is presently worth $8.92 billion, according to the Bloomberg Billionaires Index.
Rupert derives the majority of his $8.3-billion wealth from his 9.14-percent stake in Richemont, a luxury goods company that owns a diverse portfolio of premium brands including Chloe, Dunhill, Alaa, Cartier, and Delvaux.
