South African billionaire Nicky Oppenheimer rebounds with $1.6 billion gain

At 80, South Africa’s second-richest man, Nicky Oppenheimer is once again seeing his fortune climb, adding $1.6 billion to his net worth in just over five weeks as gains from a sprawling network of private investments strengthened his standing among Africa’s wealthiest individuals.

According to the Bloomberg Billionaires Index, Oppenheimer’s fortune rose from $12.9 billion on Mar. 31 to $14.5 billion at the time of drafting this report. The increase places him as Africa’s fourth-richest person, behind Aliko Dangote, Abdul Samad Rabiu, and fellow South African Johann Rupert. Globally, he ranks as the world’s 213th-richest person.

Private holdings fuel wealth recovery 

The rebound comes shortly after a difficult stretch earlier this year. Between Feb. 26 and Mar. 31, Oppenheimer’s net worth fell by $1.3 billion, dropping from $14.2 billion to $12.9 billion. The recovery not only erased those losses but also pushed his fortune to one of its highest levels.

Much of that growth has been driven by the family’s private investment holdings across Africa, Asia, the United States, and Europe. The assets are managed through London-based Stockdale Street and Johannesburg-based Tana Africa Capital, firms that became central to the Oppenheimer family’s operations after its exit from the diamond trade more than a decade ago.

Oppenheimer expands beyond diamonds

For decades, the Oppenheimer name was closely tied to De Beers, the diamond producer that shaped much of the global industry. That chapter changed when the family sold its 40 percent stake in De Beers to Anglo American for $5.2 billion, ending an eight-decade association with the diamond business. Since then, Oppenheimer has quietly rebuilt the family’s presence through private investments rather than public markets.

Today, those investments stretch across several sectors and regions. Alongside his son, Jonathan Oppenheimer, he co-founded Oppenheimer Generations, a family office with operations in Johannesburg and Singapore. The firm focuses on investment opportunities linking Africa and Asia, in sectors tied to consumer demand and long-term economic growth.

One of the clearest examples of that strategy is the family’s investment in GZ Industries, Nigeria’s largest beverage can producer. In 2023, Jonathan Oppenheimer’s Oppenheimer Partners acquired the remaining 37.5 percent stake from Affirma Capital, taking full ownership. GZ Industries supplies major beverage companies, including The Coca-Cola Company, expanding the family’s position in Africa’s consumer market. 

Conservation anchors Oppenheimer legacy

Oppenheimer continues to maintain a strong focus on conservation, an area that has become closely associated with the family in recent years. Together with Jonathan, he co-owns Tswalu Kalahari, South Africa’s largest private game reserve. The reserve plays a major role in protecting endangered species and preserving biodiversity across the Kalahari region.

His conservation interests also extend into Zimbabwe, where he owns Shangani Ranch, a 65,000-hectare property that serves as an important wildlife migration corridor. Beyond conservation, the ranch supports about 400 local jobs and contributes to the local economy through beef exports to the United Kingdom.