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South African billionaire Nicky Oppenheimer, the country’s second-richest person, has added $1.75 billion to his fortune this year, with nearly $750 million gained since mid-July. His estimated net worth now stands above $13 billion following a revaluation of his assets, according to the Bloomberg Billionaires Index.
Net worth hits $13.3 billion
Oppenheimer, who ranks as the third-richest person in Africa behind Nigerian industrialist Aliko Dangote and fellow South African Johann Rupert, has seen his wealth climb from $11.5 billion on Jan. 1 to $13.3 billion as of this report.
The latest gain builds on a smaller increase recorded in the first half of the year, when his fortune rose by about $1.03 billion to $12.6 billion by mid-July. His rising net worth is tied to the performance of private investments held through firms such as Stockdale Street and Tana Africa Capital. Bloomberg now places him as the world’s 233rd wealthiest individual.
Building wealth through global family office ventures
Oppenheimer’s fortune has shifted focus since 2012, when he stepped back from the diamond industry. That year, he sold the family’s remaining 40 percent stake in De Beers to Anglo American for $5.2 billion, closing an 80-year chapter in mining.
Since then, alongside his son Jonathan, he has built a broader base of investments through Oppenheimer Generations, a family office with operations in Johannesburg and Singapore that looks for opportunities across Africa and Asia.
One of their biggest holdings is GZ Industries, Nigeria’s largest beverage can manufacturer. In 2023, Jonathan’s investment company, Oppenheimer Partners, took full control of the firm after acquiring a 37.5 percent stake from Affirma Capital. GZI supplies cans to major brands including Coca-Cola, giving the family exposure to Africa’s expanding consumer market.
Oppenheimers expand conservation from South Africa to Zimbabwe
Beyond business, the Oppenheimers have also committed themselves to conservation. Nicky and Jonathan own Tswalu Kalahari, South Africa’s largest private game reserve which protects endangered species and supports scientific research in the fragile desert ecosystem.
Their conservation work extends into Zimbabwe, where Nicky owns the 65,000-hectare Shangani Ranch. The property preserves wildlife corridors, provides about 400 local jobs and contributes to beef exports, including shipments to the United Kingdom.
