South Africa’s diamond billionaire now ranked fourth richest on the continent
South African businessman Nicky Oppenheimer is ranked as the fourth-richest person in Africa and 304th on the 2026 Forbes Global Billionaires list.
Born in 1945 in Johannesburg, Oppenheimer comes from one of South Africa’s most prominent diamond-mining families.
However, during challenging times, he had to leave the family business. He is currently the second-richest man in South Africa, with a net worth of $10.6 billion, equivalent to nearly R172 billion.
Oppenheimer is a key figure in one of the country’s most influential families.
As of January 2026, his net worth stood at $10.5 billion, which was between R165.01 billion and R173.13 billion at the time.
Nicky’s grandfather, Ernest Oppenheimer, was the first generation in the family to lead the De Beers diamond mining company in South Africa, founded by Cecil Rhodes in 1888.
Ernest, originally the son of a German cigar merchant, was sent to South Africa at the age of 21 by a London trading company to buy diamonds, a trade he quickly mastered. By the age of 30, he had become the mayor of the diamond town of Kimberley.
Harry Oppenheimer, Oppenheimer’s father, became one of the wealthiest individuals in the world, serving as the chairman of Anglo American for 25 years and De Beers Consolidated Mines for 27 years.
Nicky Oppenheimer received his education in Britain, attending Harrow School. He subsequently studied politics, philosophy, and economics at Christ Church College, Oxford, where he also obtained his master’s degree.
“I am of an age where going to university was the last holiday of your life, and I thought that was absolutely fantastic,” he explained to Forbes Africa.
When Nicky Oppenheimer returned to South Africa, he was called up for national service.
According to Forbes Africa, despite having a degree that typically fast-tracked candidates to officer positions, the military struggled to find a suitable role for him.
Lacking useful skills for army duties, he was assigned to a large parking lot near Pretoria.
His responsibilities included checking in vehicles, ensuring they had four tyres and two headlights, and signing them off. Afterwards, at the age of 23, Oppenheimer joined the family business.
Former De Beers chairman
Oppenheimer sold his 40% stake in the De Beers firm to the mining group Anglo American for $5.1 billion in cash in 2012.
He was the third generation of his family to lead De Beers and took the company private in 2001. The Oppenheimer family held a controlling position in the global diamond trade for 85 years until 2012.
In 2014, Oppenheimer founded Fireblade Aviation in Johannesburg, which provides charter flight services.
He also owns at least 720 square miles of conservation land across South Africa, Botswana, Zimbabwe, and Mozambique.
In light of these significant financial contributions, it’s important to recognise the impact of wealth distribution among Africa’s top earners.
Forbes Africa reported that, in response to the COVID-19 pandemic, Oppenheimer donated over $110 million, which is nearly R1.8 billion, to small businesses in South Africa.
The combined wealth of the continent’s three richest individuals surpassed $100 billion for the first time in 2025, and they are now richer than ever.
These individuals collectively added $20.3 billion to their fortunes as major equity markets across the continent rallied and regional currencies stabilised.
In total, Forbes’ list of Africa’s 23 richest people is worth $126.7 billion, up 21% from 2025.
Africa’s top four billionaires include two Nigerians in first and third place, and two South Africans in second and fourth place.
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