Nicky Oppenheimer, South Africa’s second-richest man and one of Africa’s richest billionaires, has seen his net worth climb significantly since the beginning of the year, thanks to a steady increase in his private equity assets.
The South African billionaire who derives the majority of his wealth from private equity investments has seen his wealth increase by $700 million since the beginning of the year, according to the Bloomberg Billionaires Index, which tracks and compares the fortunes of the world’s 500 wealthiest people.
According to HowAfrica data, his net worth has climbed by $700 million since the beginning of the year, from $8.03 billion to $8.73 billion at the time of writing, confirming his status as one of Africa’s richest billionaires.
His recent growth in net worth can be due to the persistent increase in the market value of his private equity investments, which he controls through Stockdale Street in London and Tana Africa Capital in Johannesburg.
His new net worth growth builds on his gains in 2022, when his net worth climbed by $75 million, putting him on the list of African billionaires with more than $8 billion.
Nicky Oppenheimer has been a private equity investor since 2012, when he sold his family’s 40% ownership in De Beers, the world’s largest diamond miner, in a $5.2-billion sale to mining company Anglo-American.
Oppenheimer is a dedicated champion for wilderness conservation in addition to his private equity investments. He co-owns Tswalu Kalahari, South Africa’s largest private game reserve, with his son Jonathan.
He also owns the 65,000-hectare Shangani Ranch, which has been in operation since 1937 and employs 400 people. The ranch serves as an important animal migration corridor and has established a reputation as a wildlife sanctuary. In addition, it has kept over 8,000 cattle for meat exports to the United Kingdom.