South Africa’s second-richest man Nicky Oppenheimer hit by $200-million loss in 2 days

Omokolade Ajayi -

South African billionaire Nicky Oppenheimer has experienced a substantial decline in his fortune in recent times, which has caused his net worth to drop below $9 billion.

Data tracked by Billionaires.Africa reveals that Nicky Oppenheimer, who ranks as the second-richest man in South Africa, has seen his wealth figures slump by $200 million in just two days.

According to the Bloomberg Billionaires Index, Oppenheimer’s fortune currently stands at $8.95 billion, down from $9.15 billion on Sept. 21.  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, Nicky Oppenheimer’s present fortune of $8.95 billion makes him the 233rd richest individual globally, and the third-richest person in Africa, just behind fellow South African billionaire Johann Rupert, and Nigerian billionaire businessman, Aliko Dangote.

The staggering $200-million plunge in his wealth resulted in his descent on the Bloomberg Billionaires Index, plummeting from the 230th spot on Sept. 21 to the 233rd position while drafting this report.

Despite the recent decline in his fortune, Oppenheimer’s year-to-date gain currently aggregates to a substantial $925 million. His success as a businessman is linked to his significant impact on the diamond industry, and 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. 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.