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Jonathan Oppenheimer recently opened up about what it’s like being the new generation of the Oppenheimer empire when he sat down with 702’s Bruce Whitfield for an interview.

Son of Nicky Oppenheimer and heir to a family fortune worth R200.1 billion, Jonathan appears to be a man who clearly understands that with great wealth, comes great responsibility.

Although one of the richest families in the world, Jonathan says that being this rich is not all diamonds and champagne.

“There is a perception. I suppose when one looks at the lives of people who are born into privilege and say, ‘Well, wouldn’t that be nice?’. It comes with massive shackles,” he says.

“You’re not only responsible for the next five generations of Oppenheimers, but also for a broader community.”

Jonathan emphasised that as an Oppenheimer, he was instilled with a great sense of responsibility to ensure that their business initiatives improve the environment around them.

“We’re here to make a profit because without making a profit, nothing is sustainable. But we’re here to make a profit in such a way as to benefit the people and communities with whom we operate.”

“That dictum is at the very essence of everything that Nicky and I do. Hopefully, my children do as they come into their adult age and take on more and more responsibilities.”

Born in 1968, Jonathan spent much of his upbringing outside of Apartheid South Africa, attending Harrow School in England. Aside from his scholastic prowess, the younger Oppenheimer was an accomplished player who played first-class cricket for Oxford University Cricket Club.

Despite growing up in the richest family in South Africa, his parents instilled in him a sense of humility from an early age. They frequently gave him less pocket money than most of his friends, and his mother, in particular, urged him to pay his own way and conserve what little money he had.

Aside from humility, this established a sense of value in Jonathan, ensuring that all of his actions were value-driven rather than him getting whatever he wanted.

“I can’t recall a single conversation with my parents or grandparents on either side, which said you will do what an Oppenheimer does or be who an Oppenheimer should be.”

“It was always you must follow what you want to do in your life and make your life a success, and in doing that, you must make a contribution to the environment you’re in.”

From a young age, Jonathan was exposed to the family business, growing up with insight into an industry few other people are ever exposed to. At only 10 years old, he was already allowed to sit in on meetings at Anglo American.

“My father used to collect me on the half days at school and at lunch, and instead of going home, I used to go to the office quite often, and I had the freedom of 44 Main Street.”

Despite being privy to the inner workings of the company, Jonathan says there was never any pressure to take over the business.

“I can’t recall a single conversation with my parents or grandparents on either side, which said you will do what an Oppenheimer does or be who an Oppenheimer should be.”

“It was always you must follow what you want to do in your life and make your life a success, and in doing that, you must make a contribution to the environment you’re in.”

He started his career with NM Rothchild & Sons before returning to Anglo American, where he became senior vice president in 1999. After leaving Anglo American in 2000, he had several top positions at De Beers Diamond Mining Company in Southern Africa and London until 2012.

Jonathan then established Oppenheimer Partners in 2016 to invest in ‘frontier’ areas throughout the globe. He believed that these markets presented enormous prospects for investors and that their investments may have the greatest influence on people.

“South Africa is the land of my birth. I’m incredibly passionate about the space. I think this is an amazing country with a huge opportunity,” he said.

“There are very few countries in the world where you can build and create the kind of opportunities we have here.”

In 2003, Jonathan and his father started The Brenthurst Initiative, a policy paper focusing on economic development in South Africa, which inevitably led to the formation of The Brenthurst Foundation in 2004. The foundation acts as a policy think tank focussing on improving economic outcomes for African countries.

Continuing to follow his passion for sustainability in Africa, Jonathan then went on to buy Tswalu Kalahari Reserve – South Africa’s largest private game reserve. As a huge supporter of conservation, Jonathan immediately banned hunting on the reserve, leading to the World Wildlife Fund giving him an award for his conservation work at Tswalu Kalahari.

Tswalu was recently recognised as a ‘travel winner’ in Robb Report’s Best of the Best 2024 issue for their ambitious conservation projects, sustainably safeguarding vital habitats and restoring biodiversity to the region.

It seems the Oppenheimer fortune is in good hands.

[source:businesstech&dailyinvestor]