Billionaires.Africa·4 min read·medium
Nicky Oppenheimer sold De Beers stake for five times today's price
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Adedotun Elijah Oyeniyi
✦AI Summary
Nicky Oppenheimer's 2011 sale of his family's De Beers stake to Anglo American is now viewed as a highly profitable exit given the company's current valuation. The diamond industry has faced significant headwinds, including the rise of synthetic diamonds.
Nicky Oppenheimer sold his family's 40% holding in De Beers to Anglo American for $5.1 billion in 2011, ending eighty years of Oppenheimer control over the world's most famous diamond company.
businesseconomy
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