Nicky Oppenheimer, one of the richest men in Africa, has seen his net worth climb by millions of dollars over the past 21 days as a result of a recent spike in the market value of his private equity investments and a resurgence in interest in purchasing publicly held firm shares.

A recent boost in the value of his well-diversified portfolio has helped the South African millionaire, who acquired $125 million in fortune in 2022, get off to a solid start this year, as seen by the $200 million increase in his net worth in just 21 days.

According to data from the Bloomberg Billionaires Index, Oppenheimer has seen his net worth soar from $8.03 billion at the start of the year to $8.23 billion at the time of drafting this report.

This significant increase solidifies his position as the second-richest man in South Africa and the third-richest man on the African continent, trailing only fellow South African billionaire Johann Rupert and Nigerian cement tycoon Aliko Dangote.

The boost in Oppenheimer’s net worth can be attributed to the outstanding performance of his private equity investments, which he manages through Stockdale Street in London and Tana Africa Capital in Johannesburg.

These investments span across Africa, Asia, the United States, and Europe, and have proven to be a sound strategy for the billionaire, allowing him to capitalize on market fluctuations and generate substantial wealth gains.

Oppenheimer has been holding these private equity investments since 2012, when he sold his family’s 40-percent stake in De Beers, the world’s largest diamond producer, to mining conglomerate Anglo-American.

Along with his investments in Stockdale and Tana Africa Capital, a private equity joint venture that he established with Singapore-based investment fund Temasek Holdings.

Oppenheimer also holds investments in 4Di Capital, a South African-focused venture capital firm and Integrated Diagnostics Holdings, a consumer healthcare company with subsidiaries in several countries.

Source: Ghanaweb