South Africa’s second-richest man Nicky Oppenheimer has recorded a $220-million increase in his net worth in October, taking the wealth assessment above the $8-billion mark.
As of press time, on Oct. 31, Oppenheimer’s net worth was valued at $8.15 billion, making him the second richest man in South Africa and one of the top five wealthiest billionaires in Africa.
Since the start of the month, his net worth has increased from $7.93 billion to $8.15 billion as of the time of writing. This translates to a $220-million net worth gain for the billionaire in just 30 days on account of a revaluation of his assets and investments held through private equity firms.
Oppenheimer maintains private equity investments in Africa, Asia, the United States and Europe through the London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
In the first half of 2021, Tana Africa exited its position in Regina, Egypt’s second-largest pasta manufacturer, as well as the country’s leading manufacturer of durum wheat flour. The flour miller enjoys a dominant position in the semolina (durum) pasta market with its Regina and Masreya brands.
The Oppenheimer managed fund has also acquired a beneficial equity stake in Kensington Distillers & Vintners (KDV Group), an alcoholic beverage manufacturing and distribution business founded in 2014 by an experienced team of alcoholic beverage professionals.
The recent gains from Oct. 1 to Oct. 31 have resulted in his net worth increasing by more than 14 percent, or $1 billion, since the start of the year. Oppenheimer joins an elite list of billionaires in Africa who share that privilege, despite the tough operating environment caused by COVID-19.
The growth in his net worth this year lags behind the wealth increase of other African billionaires such as Johann Rupert and Aliko Dangote, who have seen their net worth rise by more than $1.4 billion in 2021.
Through his family office Oppenheimer Generations, Oppenheimer has set up an office in Singapore to boost its footprint in Asia and drive investment between Africa and the region.
It also hopes to partner with other family offices in the city-state.
At his current wealth valuation, Oppenheimer is ranked the 332nd richest man in the world.
