Johannesburg – South African billionaire Nicky Oppenheimer has transformed the fortune generated from the family’s exit from De Beers into a diversified investment empire spanning businesses across Africa and Asia.
According to Billionaires.Africa, Oppenheimer and his son Jonathan have channelled the proceeds from the family’s 2012 sale of its 40% stake in De Beers into private equity, healthcare, consumer goods, technology, aviation, tourism and conservation.
The family sold the stake to Anglo American for $5.1 billion, bringing more than 80 years of Oppenheimer control of the diamond company to an end.
At the time, Oppenheimer described the decision as a difficult one.
“This has been a momentous and difficult decision as my family has been in the diamond industry for more than 100 years and part of De Beers for over 80 years,” he said, according to Anglo American.
Africa’s three richest people
Bloomberg’s Billionaires Index, cited by Billionaires.Africa, currently values Oppenheimer’s fortune at about $15 billion, making him one of Africa’s three richest people.
Forbes, however, puts his real-time net worth at $10.6 billion, illustrating the difference between billionaire wealth estimates.
The family’s investments are consolidated through Oppenheimer Generations, while its Africa-focused investment vehicle, Tana Africa Capital, was established with Singapore’s Temasek Holdings in 2011.
Tana says it invests across sectors including agribusiness, fast-moving consumer goods, retail and education, with portfolio companies operating in more than 20 African countries.
Significant change
The latest deal highlighted by Billionaires.Africa is the exit from Ghanaian power and gas company Genser Energy, after the company bought back Oppenheimer Partners’ entire stake. The price of the transaction was not disclosed.
The family’s portfolio also includes Nigerian aluminium-can manufacturer GZ Industries, South African oncology business Icon Oncology, Moroccan retailer Kitea, Kenyan meat processor QMP Group and Nigerian payments businesses.
BusinessTech, reporting on Oppenheimer’s wealth earlier this year, noted that he remains South Africa’s second-richest individual on the 2026 Forbes list, behind Johann Rupert. It also reported that Oppenheimer founded Fireblade Aviation in 2014 and owns extensive conservation land across southern Africa.
The shift marks a significant change from the family’s historic concentration in diamonds, with Oppenheimer’s post-De Beers strategy increasingly focused on owning stakes in multiple businesses rather than controlling a single dominant company.
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Compiled by Betha Madhomu
