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South African billionaire businessman Nicky Oppenheimer’s net worth has increased by millions of dollars in January, surpassing the $8-billion mark due to the revaluation of his investments.
According to data tracked by Billionaires.Africa, Oppenheimer, the second-richest man in South Africa after Johann Rupert, saw his fortune increase by $180 million in January. This comes despite a recent sell-off on the global equity market caused by concerns revolving around monetary authorities’ policy stance in containing soaring consumer prices and inflation.
According to data compiled by the Bloomberg Billionaires Index, his net worth increased to $8.13 billion as a result of the multimillion-dollar increase for the month.
The majority of his $8.13-billion fortune, which he manages through private equity across Africa, Asia and the United States, stems from his family’s 40-percent stake in De Beers, one of the world’s largest diamond producers, which was sold to mining company Anglo-American in 2012 for $5.2 billion in cash.
Since then, the South African billionaire’s fortune has grown by double digits as a result of private equity investments made through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
On the first day of business and trading in 2022, his net worth was estimated to be $7.95 billion.
His net worth increased by $180 million between Jan. 1 and yesterday, Jan. 31, to $8.13 billion, thanks to the revaluation of his private equity assets held through Stockdale Street and Tana Africa Capital.
Tana Africa recently exited its position in Regina, Egypt’s second-largest pasta manufacturer and the country’s leading producer of durum wheat flour.
The Oppenheimer-managed fund also acquired a beneficial equity stake in Kensington Distillers & Vintners (KDV Group), an alcoholic beverage manufacturing and distribution company founded in 2014 by a seasoned team of alcoholic beverage professionals.
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