Nicky Oppenheimer News
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Cie. Financiere Richemont SA Chairman Johann Rupert, who said yesterday he will take a 12-month sabbatical after leading the company for 25 years, has overtaken Nicky Oppenheimer as the richest South African.
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The Oppenheimer family, the mining dynasty selling out of De Beers for $5.1 billion, will use part of the proceeds to boost funds in its private-equity joint venture with Temasek Holdings Pte, Nicky Oppenheimer said.
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De Beers , the world’s largest diamond producer, said demand will surpass production for at least the next five years because no new mines are coming on stream.
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Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
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Anglo American Plc agreed to buy the Oppenheimer family’s 40 percent stake in De Beers for $5.1 billion in cash, ending the dynasty’s 80-year ownership in the world’s largest diamond miner.
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Nicky Oppenheimer will retire from the board of Anglo American Plc.
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De Beers broke with a tradition of promoting internally to appoint Alstom SA’s Philippe Mellier , a mechanical engineer with a background in cars and trains, to head the world’s largest diamond producer.
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Anglo American Plc , whose mines made South Africa the continent’s biggest economy, said Nicky Oppenheimer will leave the company, making it the first time a member of the family hasn’t sat on the board since they created the business in 1917.
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De Beers, the world’s second- largest diamond miner, said Barend Petersen will replace Nicky Oppenheimer as executive chairman of its South African mining operations and appointed Phillip Barton as chief executive officer of the unit.
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Barry Lok grimaced as he gazed at the rotting carcass of his rhino bull, Kruger, lying under a tree on his farm northwest of Johannesburg. His heart had been pierced by a poacher’s bullet and his horn, worth its weight in gold, sawn off to be sent to Asia.
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