Home » South Africa’s second-richest man Nicky Oppenheimer suffers $150 million loss in five days

South Africa’s second-richest man Nicky Oppenheimer suffers $150 million loss in five days

by Feyisayo Ajayi
Nicky Oppenheimer

After recording a multimillion-dollar increase in his net worth in the first six months of 2023, South Africa’s second-richest man Nicky Oppenheimer has recorded a significant decline in his net worth in recent times.

According to the Bloomberg Billionaires Index, Oppenheimer’s fortune currently stands at $9.08 billion. Data tracked by Billionaires.Africa reveals that the South African billionaire has witnessed a decline of $150 million in net worth over five days. This equates to an average loss of $30 million per day since July 5.

The decline can be attributed to losses incurred from Oppenheimer’s investments in private equity firms, which he manages through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.

Despite the slight decrease in his net worth, Oppenheimer’s present fortune of $9.08 billion positions him as the 233rd richest individual globally and the second richest in South Africa, trailing behind fellow South African billionaire Johann Rupert.

Rupert’s net worth is currently valued at $13.2 billion. 

Oppenheimer’s success as a businessman can be credited to his significant impact on the diamond industry. Since the start of the year, he has witnessed a staggering surge in his net worth, with an impressive increase of $1.05 billion.

This places him among the select group of African billionaires who have experienced a substantial boost in their fortunes during this year.

Beyond his illustrious business ventures, Oppenheimer is widely recognized for his unwavering commitment to wilderness conservation.

Together with his son, Jonathan, he co-owns Tswalu Kalahari, the largest private game reserve in South Africa.

This sanctuary provides a safe haven for wildlife and plays a crucial role in preserving the region’s natural biodiversity.

Oppenheimer is also the owner of the 65,000-hectare Shangani Ranch. T

he ranch, which serves as a vital migration route for animals, has contributed to the local economy by employing 400 individuals and facilitating beef exports to the United Kingdom.

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