Nicky Oppenheimer, South Africa’s second-richest man, loses $800 million

Key Points

• Nicky Oppenheimer’s 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 Africa’s 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 Africa’s 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.

Oppenheimer’s wealth declines after recent gains

While Forbes figures may vary, data from the Bloomberg Billionaires Index shows that Oppenheimer’s wealth has recently taken a hit. The former head of De Beers, who ended his family’s 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.

Oppenheimer’s wealth decline linked to private investments

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 Johannesburg’s 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.

Oppenheimer’s commitment to conservation and wildlife

Beyond his business endeavors, Oppenheimer is also dedicated to wilderness conservation. Together with his son Jonathan, he co-owns Tswalu Kalahari, South Africa’s largest private game reserve, which serves as a vital sanctuary for wildlife and plays a key role in preserving regional biodiversity.

Additionally, Oppenheimer owns the 65,000-hectare Shangani Ranch, which is an important migration route for animals. The ranch also supports the local economy, employing 400 people and facilitating beef exports to the United Kingdom.