Notable Surge in Net Worth for South Africa’s Second Wealthiest Individual
The fortune of Nicky Oppenheimer, the second-richest person in South Africa, has seen a significant rise of $1.3 billion (16%) in the current year. From November 29, 2022, until 2023, his net worth has grown from $7.95 billion to $9.33 billion.
This 91-year-old billionaire has accumulated his wealth through private investments in Africa, Asia, the US, and Europe, managed by London-based Stockdale Street and Johannesburg-based Tana Africa Capital. The surge in Oppenheimer’s wealth can be attributed to the favorable market performance of the companies in which he holds investments.
Tana Africa Capital, one of Oppenheimer’s investment vehicles, executed strategic moves in 2022, including a minority investment in Sundry Markets, a rapidly growing Nigerian grocery retailer. This transaction represented a partial realization of capital investments, demonstrating Oppenheimer’s commitment to nurturing successful partnerships.
Furthermore, in May 2022, Tana Africa Capital announced a strategic investment in Interswitch, a leading technology-driven payment company in Africa, to support Interswitch’s efforts in advancing the payment ecosystem across the continent.
Nicholas Frank Oppenheimer, the descendant of a formidable mining legacy, built his wealth by divesting his family’s 40% stake in De Beers, the premier rough diamond producer, to Anglo American in a landmark deal valued at $5.2 billion in August 2012. Following this, Oppenheimer discreetly injected funds into 4Di Capital, a South Africa-focused venture capital firm, as reported by Ventureburn in November 2012.
Also known as Nicky, he entered the family enterprise at the age of 23 and climbed the ranks to lead De Beers in 1998. He played a pivotal role in establishing the Kimberley Process certification scheme in 2003 to crack down on conflict diamonds, after the company lost its near-monopoly on diamond distribution in 2000.
Deeply committed to African investment, Nicky Oppenheimer was actively involved in Tana Africa Capital, his private equity venture with Temasek Holdings. In addition to his business ventures, he and his son Jonathan are dedicated to environmental conservation, owning Tswalu Kalahari, South Africa’s largest private game reserve.
The remarkable increase in Oppenheimer’s net worth reflects his shrewd investment strategies and the success of his ventures, solidifying his position as one of South Africa’s wealthiest individuals. His dedication to nurturing successful partnerships and supporting the advancement of businesses across Africa further solidifies his status as a prominent figure in the world of investments.
