South African billionaire Nicky Oppenheimer’s financial trajectory remains on an upward swing as his net worth skyrockets to $10.7 billion in 2024, cementing his position as South Africa’s second-richest individual and the third wealthiest on the African continent.
According to the Bloomberg Billionaires Index, which tracks the fortune of the world’s 500 wealthiest individuals, the leading South African billionaire has seen his net worth increase by $850 million since the start of 2024, from $9.85 billion on Jan.1 to $10.75 billion at the time of drafting this report.
Oppenheimer’s financial path took a decisive turn in 2012 with the shrewd divestiture of his family’s 40-percent stake in De Beers, the world’s top diamond producer. The $5.2-billion cash deal with mining behemoth Anglo-American formed the bedrock of Oppenheimer’s wealth. Since then, Oppenheimer has been consistently expanding his portfolio, in 2023 his net worth increased by $1.82 billion.
Oppenheimer’s $10.7-billion fortune: Unveiling the power of private investments
The recent rise in Oppenheimer’s wealth stems primarily from the sustained appreciation of his varied private investments. Managed through entities like Stockdale Street in London and Tana Africa Capital in Johannesburg, these holdings have significantly contributed to his growing net worth.
With a current net worth of $10.7 billion, Oppenheimer ranks 223rd on the global wealth list. He eclipses Swedish billionaire Antonia Axson Johnson and Samsung Electronics Chairman Jay Y. Lee, who are both tied at $10.6 billion.
In Africa, Oppenheimer sits third among the continent’s richest, trailing Nigerian billionaire Aliko Dangote and South African luxury goods tycoon Johann Rupert, who leads the rankings as head of Richemont.
Nicky Oppenheimer: A titan in the diamond industry and conservation advocate
Apart from his successful business ventures, Oppenheimer is renowned for his dedication to wilderness conservation. Together with his son, Jonathan, he co-owns Tswalu Kalahari, South Africa’s largest private game reserve, which serves as a vital sanctuary for wildlife and contributes significantly to preserving the region’s natural biodiversity.
Additionally, Oppenheimer’s ownership of the 65,000-hectare Shangani Ranch plays a crucial role in facilitating animal migration routes and bolstering the local economy through employment opportunities and beef exports to the United Kingdom.
