Nicky Oppenheimer, South Africa's second-richest, hits $1.7 billion gains in 2023

South African billionaire Nicky Oppenheimer, who saw a modest increase in wealth in 2022, has achieved remarkable financial success this year, with his year-to-date gains exceeding $1.7 billion, thus bringing his wealth figures closer to the $10-billion milestone.

Presently ranking as Africa’s third-richest person and the second-richest man in South Africa, trailing behind luxury goods magnate Johann Rupert, Oppenheimer’s net worth has soared by a remarkable $1.73 billion since the start of the year.

The $1.73-billion year-to-date gain recorded in his net worth, which surpassed the $125-million wealth gains that he recorded in 2022, placed him among the African billionaires whose wealth has increased by more than $1.5 billion in 2023, despite concerns about a global slowdown in corporate earnings.

How Oppenheimer navigated market volatility to grow his wealth to $9.75 billion

According to the Bloomberg Billionaires Index, his fortune has climbed from $8.03 billion to $9.75 billion since Jan. 1, catapulting him 29 spots to 229th on the ranking of the world’s wealthiest individuals.

The surge in his fortune is linked to his private equity investments, managed through Stockdale Street in London and Tana Africa Capital in Johannesburg. These firms have capitalized on the booming demand for African assets in sectors like consumer goods, financial services, and infrastructure.

Oppenheimer’s private equity investments have not only boosted his net worth but also solidified his position as one of Africa’s most successful businessmen. His broad diversification across asset classes and geographies has helped him weather market downturns and capitalize on new opportunities.

Billionaire’s commitment beyond wealth: A visionary leader in business and conservation

Beyond his business interests, the billionaire is renowned for his unwavering commitment to wilderness conservation with ownership and management of South Africa’s largest private game reserve, Tswalu Kalahari, with his son Jonathan, a sanctuary for wildlife and a vital part of the country’s natural heritage.

Oppenheimer also owns the Shangani Ranch, a 65,000-hectare wildlife sanctuary with 400 employees, exporting beef to the UK since 1937. The ranch also serves as a vital animal migration corridor, demonstrating Oppenheimer’s commitment to wildlife preservation and ecological balance.

With his current year-to-date wealth gains totaling $1.73 billion, Oppenheimer is poised to join the ranks of the few African billionaires with a fortune surpassing $10 billion. His impressive financial achievements and commitment to wildlife conservation have cemented his status as a prominent figure in the business and philanthropic spheres.