Nicky Oppenheimer, South Africa’s second-richest individual, has increased his wealth by $1.5 billion this year, thanks to a strong investment portfolio covering numerous industries.
The Bloomberg Billionaires Index estimates his fortune at $11.4 billion, up $500 million from $10.9 billion on June 30, 2024.
This gain solidifies his status as South Africa’s second richest person and the world’s 227th richest individual.
The Oppenheimer family’s wealth, rooted in the diamond trade through their former shareholding in De Beers, is now mostly managed by private investment businesses such as Stockdale Street in London and Tana Africa Capital in Johannesburg.
These investment vehicles have been crucial in directing the family’s wealth into a variety of high-growth areas, contributing to Oppenheimer’s constant wealth increase in 2024.
Oppenheimer’s family office, Oppenheimer Generations, which he co-founded with his son Jonathan, has been instrumental in expanding the family’s business beyond Africa.
The family office, which has its headquarters in Johannesburg and a regional office in Singapore, is intended to bridge the gap between the African and Asian markets by capitalizing on developing investment possibilities on both continents.
Jonathan Oppenheimer’s 2023 acquisition of GZ Industries (GZI), Nigeria’s largest beverage can manufacturer, demonstrates the family’s expanding African presence. Oppenheimer Partners acquired the remaining 37.5 percent stake from Affirma Capital, bringing its total ownership to 100%.
As a supplier to corporations such as Coca-Cola Co., GZI boosts Oppenheimer’s portfolio and position in Africa’s burgeoning beverage sector.
Beyond business, Nicky Oppenheimer is well-known for his dedication to conservation.
He and his son co-own Tswalu Kalahari, South Africa’s largest private game reserve at 110,000 hectares.
The reserve serves as both a shelter for endangered animals and a hub for biodiversity conservation, demonstrating Oppenheimer’s commitment to environmental sustainability.
The family’s environmental and economic activities extend to Zimbabwe, where it owns the 65,000-hectare Shangani Ranch.
The ranch promotes local employment and sustainable agriculture, with beef exports to worldwide markets including the United Kingdom.
In a year of market volatility, Oppenheimer’s $1.5 billion year-to-date gain stands out, since just a few African billionaires have achieved comparable growth in 2024.
His ascension reinforces the family’s strategic focus on diverse investments and dedication to socioeconomic development in Africa.
With a thriving family office and expanding operations in conservation and industry, the Oppenheimer family legacy remains one of the most influential on the continent.
