Insight: Oppenheimers Consign Diamonds to the Past

- November 26th, 2011

Reuters reported diamonds have no intrinsic value, and we think of them as precious because of the Oppenheimer dynasty.

Reuters reported diamonds have no intrinsic value, and we think of them as precious because of the Oppenheimer dynasty.

As quoted in the market news:

Which is exactly why the family’s exit from the diamond industry is all the more surprising. Africa’s second-richest family…sold their 40 percent stake in De Beers to Anglo American this month for $5.1 billion.

The decision means the dynasty involved in South Africa’s diamond industry for a century, is finally getting out of the business.

Click here to read the full Reuters report.

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