Nicholas F. Oppenheimer, better known as Nicky Oppenheimer is a South African billionaire businessman. He was formerly the chairman of De Beers diamond mining company and of its subsidiary, the Diamond Trading Company, and former deputy chairman of Anglo American.
Oppenheimer sold his family’s 40% stake in De Beers, the world’s biggest diamond producer, to mining company Anglo American in 2012 for $5.2 billion in cash.
He maintains private equity investments in Africa, Asia, the US, and Europe through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
Who is Nicky Oppenheimer?
Nicholas Frank Oppenheimer was born June 8, 1945, in Johannesburg, South Africa, the third generation of a mining dynasty.
His grandfather, Ernest Oppenheimer, founded the mining company Anglo American in 1917 to dig the world’s biggest gold field, the Witwatersrand, near Johannesburg.
The elder Oppenheimer took control of De Beers in 1929, building it into the world’s biggest diamond business, a distinction it still holds today, and linking it to Anglo through cross-shareholdings between the companies.
Harry, who is Ernest’s son and Nicky’s father, took over as chairman in 1957.
He led Anglo American’s expansion into South African banking, steel, sugar, and paper as the country’s isolation during apartheid prevented it from buying mines in foreign markets.
Nicky joined the family business at age 23 after graduating from Christ Church College Oxford, where he studied politics, philosophy, and economics.
His first job at Anglo American was as a personal assistant to the chairman, his father.
He became chairman of De Beers in 1998 and was eventually charged with transforming the company’s business model after it lost its near-monopoly on the diamond distribution market in 2000.
Another challenge: purging the company of its association with so-called blood diamonds, which had been traded through conflict zones.
Establishment of Kimberley Process certification scheme
In 2003, the company helped establish the Kimberley Process certification scheme, which aims to prevent conflict diamonds from entering the market.
The Oppenheimer family sold their remaining 40 percent stake in De Beers to Anglo American for $5.2 billion in August 2012, ending the diamond dynasty’s 80-year ownership.
Oppenheimer told Bloomberg News at the time he planned to invest some of the proceeds from the sale in Africa.
He already had an Africa-focused private equity joint venture, Tana Africa Capital, with Temasek Holdings. A supporter of wilderness conservation, he owns South Africa’s largest private game reserve, Tswalu Kalahari, with his son Jonathan.
He and his wife live in Johannesburg and have a country estate in the English county of Berkshire.
Nicky Oppenheimer’s Net Worth
As per Bloomberg’s billionaire index, his net worth is around $9.40 billion.
The majority of Oppenheimer’s fortune is derived from the proceeds he collected selling his family’s 40% stake in De Beers, the world’s largest rough diamond producer, to Anglo American for $5.2 billion in August 2012.
He also collected about $390 million in dividends from Anglo American, and the value of his cash investments is based on these proceeds and the effect of taxes and charitable contributions.
The market performance of the investments is weighted towards commodities and African markets.
The billionaire told Bloomberg News in a November 2011 interview he planned to deploy most of the proceeds into private equity investments focused on Africa, with some of the money going to increase his stake in Tana Africa Capital, a private equity joint venture he has with Temasek Holdings, a Singapore-based investment fund.
He invested an undisclosed amount in 4Di Capital, a South Africa-focused venture capital firm, in November 2012 according to an article in the news website, Ventureburn, citing a company statement.
He formerly held a less than 1% stake in Anglo American, which was removed from the analysis in December 2017 following the completion of a sell-down.
Nicky Oppenheimer Family
Harry Frederick Oppenheimer is the father of Nicholas F. Oppenheimer. He was a prominent businessman in South Africa and one of the world’s richest men.
In the year 2004, he was voted 60th in the SABC3’s Great South Africans. Harry was the chairman of Anglo American Corporation for 25 years and chairman of De Beers for 27 years until he retired and passed on the position to his heir, Nicky.
He also spent some time as the Member of Parliament for Kimberley (1948 to 1957) and became the opposition spokesman on economics, finance, and constitutional affairs. He died in the year 2000.
His mother, Bridget Oppenheimer is still alive and lives in Johannesburg with his sister Mary Slack.
On November 1969, Jonathan M. E. Oppenheimer, his son was born. And just like his father, he is a businessman too who has put in his efforts in the progress of De Beers and Anglo American Corporation continuing the legacy. He is worth’s USD 6.8 billion and he’s married to Jennifer Ward and has three children.
Nicky is enjoying his old days with his wife Orcillia Lasch Oppenheimer, the daughter of Helli Lasch, a renowned business tycoon.
Nicky Oppenheimer Foundation
Established in 2004 by the Oppenheimer family to build on the work of the Brenthurst Initiative of 2003. A programme that instigated debate around policy strategies in South Africa to accelerate economic expansion. The debate continues across the continent, driven by the sharing of ideas, data, and experiences.
The Brenthurst Foundation is part of Oppenheimer Generations, a community consisting of a collection of autonomous but interconnected entities, each playing a critical and unique role to fulfill our long-term commitment to leaving our world better than how we found it.
“We aim to contribute to the debate around strategies and policies for strengthening Africa’s economic performance and enabling inclusive and sustainable development. — Nicky and Jonathan Oppenheimer”
The foundation is on the frontier of new ideas and innovative actions for strengthening Africa’s economic performance with activities are focused on three areas:
- Encouraging key decision-makers and experts to share experiences and insights at private meetings and seminars
- Delivering relevant, practical policy advice to governments
- Generating new thinking and thought leadership to address Africa’s development challenges.
Is Nicky Oppenheimer Related to Robert Oppenheimer?
No, Nicky Oppenheimer and Robert Oppenheimer are not related to each other. While they both have German Jewish heritage, there is no direct genealogical connection between the two prominent figures.
Robert Oppenheimer
Starting with Robert Oppenheimer, he came from an American Jewish family with German and Jewish ancestry. He was born on April 22, 1904, in New York City to Julius S. Oppenheimer, a wealthy German immigrant who became a successful textile importer, and Ella Friedman, a painter. Growing up in a privileged environment, Robert received an excellent education and showed exceptional intellectual abilities from a young age.
His academic journey led him to Harvard University, where he pursued a bachelor’s degree in chemistry. Subsequently, he traveled to Germany and obtained his PhD in physics from the University of Göttingen in 1927. Robert Oppenheimer went on to become a renowned theoretical physicist and played a key role in the development of the atomic bomb during World War II.
Nicky
On the other hand, Nicky Oppenheimer hails from a South African family of Jewish origin with German roots. Born on June 8, 1945, Nicholas F. Oppenheimer is a billionaire businessman with a significant impact on the diamond mining industry.
Nicky Oppenheimer inherited his family’s business legacy and became a successful businessman in his own right. He served as the chairman of De Beers diamond mining company and its subsidiary, the Diamond Trading Company, as well as the deputy chairman of Anglo American. With his business acumen, Nicky Oppenheimer has been recognized as one of the wealthiest individuals in Africa.
Although both Robert and Nicky Oppenheimer have German Jewish heritage, their family backgrounds originate from different regions and histories. They belong to separate lineages, and there is no credible evidence to suggest any familial connection between the theoretical physicist, Robert Oppenheimer, and the billionaire businessman, Nicky Oppenheimer.
It is worth noting that the Oppenheimer surname is not uncommon and has been associated with various prominent figures across different fields, including business and science. Like many other surnames, it exists in multiple regions of the world and may have diverse origins.
As such, it is essential to distinguish between individuals who share the same surname and investigate their family histories separately to determine any possible connections. In the case of Robert Oppenheimer and Nicky Oppenheimer, there is no established genealogical relationship, and they are renowned for their achievements in their respective fields without any direct familial association.
Nicky Oppenheimer Companies
1. Oppenheimer Partners
A global investment group focused on building a long-term portfolio of businesses by deploying permanent and engaged capital.
2. Oppenheimer Generations Asia
Established with the objectives of increasing investment exposure and deepening relationships across the region. By having a permanent presence in Singapore, the Asia office is a platform for boosting synergies and catalyzing investments between Africa, our home market, and Southeast Asia.
3. Tana Africa Capital
Founded with joint ownership by the prestigious Oppenheimer Family and Temasek Holdings, Tana Africa Capital, an Africa-focused investment company, has successfully secured a remarkable $600 million in funding since its establishment. The company excels in strategic investments spanning diverse sectors, including FMCG, retail, education, healthcare, and agribusiness.
4. Fireblade Aviation
Oppenheimer founded Fireblade Aviation in 2014, a Johannesburg-based private aviation facility for business and leisure travel based at O.R. Tambo International Airport. Through its provision of aircraft and passenger services, Fireblade reflects a passion to develop the African aviation industry as a catalyst for business and tourism, through sustainable means. It is the first aviation company to receive Travel Partner status from The Long Run.
5. Shangani Ranch
A cattle business in Zimbabwe owned by the Oppenheimer family since 1937 that operates in an area of abundant and diverse wildlife. Situated in Zimbabwe’s southwestern province and known as a wildlife sanctuary because it serves as a corridor for migrating animals. The Shangani Ranch is a 65,000-hectares property that employs 400 people and keeps at least 8,000 cattle for beef export to the UK. After land reform legislation in Zimbabwe officially began in 1980 with the signing of the Lancaster House Agreement under the administration of late Zimbabwean President Robert Mugabe. It was reduced by over half from 140,000 hectares to 65,000 hectares.
6. Weeva
A 360-degree interconnected system of sustainability tools that the travel industry has been waiting for. Easy-to-use technology to track net environmental and social impact – negative and positive – in real-time.
7. Tswalu Kalahari Reserve
Tswalu is working to sustainably conserve and restore this area of the southern Kalahari. A member of The Long Run. A highly respected, non-profit membership organization of tourism businesses committed to driving holistic sustainability via the 4Cs.
8. Jan Hendrik
A partnership with South Africa’s first Michelin-starred chef Jan Hendrik van der Westhuizen was born from a shared passion for showcasing the best culinary culture that this country has to offer to the world. Mentoring and skills development is provided through the Jan Innovation Academy.
9. Niarra Travel
This start-up premium travel company is headquartered in London. Operating according to its two guiding principles of transparency and purpose to ensure that each itinerary results in the most meaningful experiences and a positive impact on the ground.
Nicky Oppenheimer’s Investments
1. IDH Holdings
Nicky Oppenheimer also holds a significant 3.37% in Integrated Diagnostics Holdings, a consumer healthcare company with subsidiaries in Egypt, Jordan, Sudan, and most recently Pakistan with the acquisition of Islamabad Diagnostic Centre, one of Pakistan’s largest integrated diagnostics providers.
2. 4DI Capital
Oppenheimer, besides investing in private equity firms like Tana Africa Capital, also has a stake in 4DI Capital. 4DI Capital is a renowned venture capital fund manager in Cape Town, South Africa, focusing on early-stage technology ventures in Southern and Eastern Africa. With a team of experienced entrepreneurs, 4DI is highly respected in the local venture capital scene.
3. Stockdale Street
Oppenheimer’s investments extend to Stockdale Street, a private equity firm named after the iconic street in Kimberley, South Africa. This street holds historical significance as it was the original location of the De Beers head office.
Milestones
- 1968: Joins Anglo American as a personal assistant to the chairman.
- 1983: Appointed deputy chairman of Anglo American; serves until 2001.
- 1998: Becomes chairman of De Beers.
- 2000: De Beers loses its near-monopoly on diamond distribution.
- 2001: Nicky’s De Beers was delisted from Johannesburg Stock Exchange.
- 2003: Joins Kimberley Process, a scheme to ban conflict diamonds.
- 2011: Nicky Oppenheimer resigns from Anglo American board.
- 2012: Sells remaining 40 percent stake in De Beers to Anglo American.
References:
- https://www.celebfamily.com/business/nicky-oppenheimer.html
- https://opp-gen.com/
- https://www.bloomberg.com/billionaires/profiles/nicholas-f-oppenheimer/
- https://www.forbes.com/profile/nicky-oppenheimer/?sh=217d82b03b93
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