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After reaching a year-to-date wealth gain of $1.3 billion on July 31, South Africa’s second-richest man Nicky Oppenheimer has experienced a substantial decline in his fortune, causing his net worth to drop below $10 billion.
Data tracked by Billionaires.Africa reveals that the South African billionaire has seen his wealth figures slump by $120 million over the past five days, translating to an average loss of $24 million per day since July 31.
According to the Bloomberg Billionaires Index, Oppenheimer’s fortune currently stands at $9.28 billion, down from $9.40 billion on July 31. This can be attributed to the decline in the value of his investments in private equity firms, which he manages through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
Despite the decrease in his net worth, Oppenheimer’s present fortune of $9.28 billion makes him the 235th richest individual globally, the third-richest person in Africa, and the second-richest man in South Africa, just behind Johann Rupert.
In fact, Oppenheimer’s ranking on the Bloomberg Billionaires Index has significantly improved, moving up from the 237th position on July 31 to the 235th spot at the time of writing.
Oppenheimer’s success as a businessman can be credited to his significant impact on the diamond industry, including the sale of his family’s 40-percent stake in De Beers to the mining conglomerate Anglo-American for $5.2 billion in 2012.
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, which 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. The 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.
