Nicky Oppenheimer, South Africa's Second-richest Man, Loses 800 Million

Nicky Oppenheimers net worth drops by 800 million, falling to 12.3 billion after a strong start to the year.

The decline in wealth follows recent losses in private investments managed through Stockdale Street and Tana Africa Capital.

Despite financial setbacks, Oppenheimer remains South Africas second-richest person and a major force in conservation.

After a strong start to the year, which saw his net worth rise above 12 billion until late February, South Africas second-richest man, Nicky Oppenheimer, has experienced a sharp 800 million drop in the last five weeks, bringing his net worth back down to 12.3 billion.

While Forbes figures may vary, data from the Bloomberg Billionaires Index shows that Oppenheimers wealth has recently taken a hit. The former head of De Beers, who ended his familys 80-year legacy in the diamond industry by selling their remaining 40 percent stake in De Beers to Anglo American for 5.2 billion in 2012, has seen his net worth fall from 12.1 billion on February 22 to 12.3 billion at the time of writing this report.

This follows a 550 million increase between Jan. 1 and Feb. 22, when his wealth climbed from 11.6 billion to 12.1 billion. This boost added to the 1.85 billion gain in 2024 , when his fortune grew from 9.85 billion to 11.6 billion. However, the recent dip means Oppenheimer has lost 250 million year-to-date, reversing the 550 million gain recorded just 38 days ago.

The drop in his wealth can largely be attributed to the performance of his private investments, managed through his London-based firm, Stockdale Street, and Johannesburgs Tana Africa Capital. These firms have been key in diversifying his wealth, particularly through reinvestments made with the 5.2 billion from the De Beers sale, focusing on high-growth sectors.

Despite the setback, Oppenheimer remains South Africa's second-richest person and is still ranked as the third-richest person on the African continent, trailing only Johann Rupert and Aliko Dangote. On the global scale, he now ranks 234th, down from 216th in late February.