South Africa’s second-richest man, Nicky Oppenheimer gains $800 million in two weeks

Omokolade Ajayi -

Key Points

  • Nicky Oppenheimer’s net worth surged $800 million in two weeks, reaching $11.3 billion after a brief decline.
  • Oppenheimer’s year-to-date wealth gains extend to $1.45 billion, maintaining his position as Africa’s third-richest individual and 214th globally.
  • Private equity investments, including holdings in Stockdale Street and Tana Africa Capital, have significantly boosted Oppenheimer’s wealth.

South Africa’s second-richest man, Nicky Oppenheimer, has made a remarkable recovery from a brief decline in his fortune, with his net worth soaring by $800 million in just two weeks. The 79-year-old businessman’s net worth has rebounded from $10.5 billion on Aug. 8 to $11.3 billion, according to the Bloomberg Billionaires Index.

This recent upturn follows a notable dip in Oppenheimer’s wealth between July 18 and Aug. 8, when his fortune decreased from $11.3 billion to $10.5 billion. The rebound has extended his year-to-date wealth gains to $1.45 billion and solidified his status as the third-richest individual on the African continent, while also positioning him as the 214th richest person globally.

Private equity investments boost wealth

The surge in Oppenheimer’s net worth is primarily attributed to the robust performance of his investments in private equity. His holdings in London-based Stockdale Street and Johannesburg-based Tana Africa Capital have driven significant returns. This underscores the volatility and potential of private equity investments, highlighting Oppenheimer’s acumen in managing and capitalizing on these assets.

Oppenheimer’s financial achievements are complemented by his significant contributions to the diamond industry. In 2012, he led the sale of his family’s 40-percent stake in De Beers to Anglo-American for $5.2 billion. This strategic move marked a pivotal moment in his career and set a benchmark for high-value asset transactions in the mining sector.

Oppenheimer: Conservation and economic impact

Beyond his business endeavors, Oppenheimer is a noted philanthropist and conservationist. Together with his son, Jonathan, he co-owns Tswalu Kalahari, South Africa’s largest private game reserve. The reserve is dedicated to wildlife conservation and the preservation of the region’s natural biodiversity.

Oppenheimer owns the Shangani Ranch, a 65,000-hectare property vital for animal migration. The ranch supports 400 local jobs and boosts the economy with beef exports to the UK. His strategic investments and resilience solidify his status as one of Africa’s wealthiest, highlighting his business acumen and commitment to impactful causes.