South Africa's Second-Richest Man Nicky Oppenheimer: $150M Loss in 5 Days
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Billionaires - July 10, 2023

South Africa’s Second-Richest Man Nicky Oppenheimer: $150M Loss in 5 Days

After experiencing a substantial surge in his net worth during the initial half of 2023, Nicky Oppenheimer, South Africa’s second-wealthiest individual, has recently encountered a notable decrease in his financial worth.

As per the Bloomberg Billionaires Index, Nicky Oppenheimer presently possesses a fortune of $9.08 billion. Reports also indicate that the billionaire from South Africa has observed a reduction of $150 million in his net worth over a span of five days. This translates to an average daily loss of $30 million starting from July 5th.

The decrease in net worth can be ascribed to losses suffered by Oppenheimer in his investments within private equity firms, which he oversees through Stockdale Street in London and Tana Africa Capital in Johannesburg.

Although experiencing a slight decline in net worth, Oppenheimer’s current fortune of $9.08 billion solidifies his position as the 233rd wealthiest person worldwide and the second richest in South Africa, with Johann Rupert, another South African billionaire, holding the top spot. Rupert’s net worth currently stands at $13.2 billion.

His interests in the diamond industry sustained him

Nicky Oppenheimer’s achievements as a businessperson can be attributed to his profound influence on the diamond industry. Since the start of the year, he has experienced an astonishing surge in his net worth, witnessing an impressive rise of $1.05 billion.

This achievement positions him among the distinguished cohort of African billionaires who have enjoyed a remarkable growth in their wealth throughout the year. Apart from his notable business endeavors, Oppenheimer is highly regarded for his unwavering dedication to wilderness conservation.

Nicky-Oppenheimer co-owns a game reserve

In partnership with his son, Jonathan, Nicky Oppenheimer co-owns Tswalu Kalahari, the largest private game reserve in South Africa. This sanctuary serves as a secure refuge for wildlife and plays a vital role in safeguarding the natural biodiversity of the region.

Nicky Oppenheimer also holds ownership of the expansive 65,000-hectare Shangani Ranch. This ranch plays a crucial role as a significant migration route for animals and has made valuable contributions to the local economy. It has provided employment opportunities to 400 individuals and facilitated beef exports to the United Kingdom.

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