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South Africa’s billionaire Nicky Oppenheimer, once edging toward the $11-billion milestone in March, has faced a staggering blow to his fortune, witnessing a plummet of $600 million in just 29 days. This downturn follows a period of remarkable growth earlier this year.
According to the latest data from the Bloomberg Billionaires Index, which tracks the wealth of the world’s top 500 billionaires, Oppenheimer’s net worth has declined by $600 million, declining from $10.7 billion on March 25 to $10.1 billion at the time of drafting this report, marking an average daily loss of $20.69 million since March 25.
South African billionaire loses ground on wealth index
The recent downturn in Oppenheimer’s net worth is attributed to the revaluation of his investments in private equity firms, particularly private investments managed through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
Oppenheimer’s fortune had a strong start to 2024, rising from $9.85 billion to $10.7 billion between Jan. 1 and March 25, a gain of $850 million. However, recent developments have led to a significant setback.
As a result of this reversal, the South African billionaire now ranks 228th on the Bloomberg Billionaires Index, down from 223rd. He remains the third-richest person in Africa, behind fellow South African Johann Rupert and Nigerian business magnate Aliko Dangote.
Legacy beyond wealth
However, beyond his formidable business pursuits, Oppenheimer is widely revered for his commitment to wilderness conservation. Together with his son, Jonathan Oppenheimer, he co-owns Tswalu Kalahari, South Africa’s largest private game reserve, serving as a haven for wildlife and playing a pivotal role in biodiversity preservation efforts in the region.
Oppenheimer’s commitment to environmental stewardship extends to his 65,000-hectare Shangani Ranch. The ranch provides employment for 400 people and facilitates beef exports to the UK, while also acting as a crucial animal migration route. This dual focus on economic development and sustainability exemplifies Oppenheimer’s dedication to responsible land management.
