Ernest Oppenheimer

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Lore & Background

Ernest Oppenheimer was born in Friedberg, German Empire, to a German-Jewish family, the son of Edward Oppenheimer, a cigar merchant, and his wife Nanette. At 17, he entered Dunkelsbuhler & Company, a diamond brokerage in London, and his efforts impressed his employer so much that in 1902, at age 22, he was sent to South Africa to represent the company as a buyer in Kimberley. He went on to become mayor of Kimberley from 1912 to 1915, and in that role helped raise manpower for the Kimberley Regiment for service during World War I. He became great friends with William Lincoln Honnold, an American engineer and chairman of several mining companies, and together they launched the Anglo American Corporation in 1917 with financial assistance from J. P. Morgan. Half of the initial £1 million capital was subscribed in the United States and half in the United Kingdom and South Africa. In 1919, two years after its launch, Anglo American purchased diamond mines in South West Africa, posing a challenge to the De Beers diamond business monopoly. In the 1924 South African general election, Oppenheimer stood for and was elected to the House of Assembly as the Member for Kimberley, holding the seat until 1938. In 1927, he managed to gain control of the late Cecil Rhodes' De Beers empire, building and consolidating the company's global monopoly over the world's diamond industry until his retirement. He gained the chairmanship of De Beers in 1929. Over the course of his chairmanship, Oppenheimer was involved in a number of controversies, including price fixing, antitrust behaviour, and an allegation of not releasing industrial diamonds for the U.S. war effort during the Second World War. He was appointed as a Knight of the Most Venerable Order of the Hospital of St John of Jerusalem in 1952.

Reader's Guide

Sir Ernest Oppenheimer's significance lies in his transformation of the global diamond industry. He began his career at 17 at Dunkelsbuhler & Company, a diamond brokerage in London, and by 1902 was sent to South Africa as a buyer in Kimberley. He became mayor of Kimberley from 1912 to 1915, helping raise manpower for the Kimberley Regiment during World War I. In 1917, with financial assistance from J. P. Morgan, he launched the Anglo American Corporation with initial capital of £1 million, half subscribed in the United States and half in the United Kingdom and South Africa. In 1919, Anglo American purchased diamond mines in South West Africa, challenging De Beers' monopoly. He was elected to the House of Assembly as the Member for Kimberley in 1924, holding the seat until 1938. In 1927, he gained control of De Beers, becoming its chairman in 1929. His chairmanship involved controversies including price fixing, antitrust behaviour, and an allegation of not releasing industrial diamonds for the U.S. war effort during World War II. He was knighted in 1921 and appointed a Knight of the Most Venerable Order of the Hospital of St John of Jerusalem in 1952. He married Mary Lina Pollak in 1906 in a Jewish ceremony in London, and they had two sons. Although born into a Jewish family, he converted to Anglicanism in adulthood. He died in Johannesburg in 1957, and his ashes were interred at Parktown St George's Church. He was succeeded in the business by his son, Harry Oppenheimer. In 1964, the Oppenheimer Diamond was named in his honour by its owner, Harry Winston, who donated the uncut stone to the Smithsonian Institution as a memorial.

Did You Know?

• Ernest Oppenheimer began his working life at 17 at Dunkelsbuhler & Company, a diamond brokerage in London.
• He served as mayor of Kimberley from 1912 to 1915 and helped raise manpower for the Kimberley Regiment during World War I.
• The Anglo American Corporation was launched in 1917 with initial capital of £1 million, half from the United States and half from the United Kingdom and South Africa.
• He gained control of De Beers in 1927 and became its chairman in 1929.
• In 1964, the Oppenheimer Diamond was named in his honour and donated to the Smithsonian Institution as a memorial.