- The De Beers Group of Companies has a leading role in the diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors
De Beers Net worth 2024 (estimated)
| | How much is De Beers worth? | Under review
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De Beers facts
- The company is currently active in open-pit, large-scale alluvial, coastal and deep sea mining
- The company operates in 28 countries and mining takes place in Botswana, Namibia, South Africa and Canada
- Until the start of the 21st century, De Beers effectively had total control over the diamond market as both a monopoly and monopsony of diamonds
- Opposition has since dismantled the complete monopoly, though De Beers is still a large shareholder and currently sells approximately 35% of the world’s rough diamond production through its Global Sightholder Sales and Auction Sales businesses
- The company was founded in 1888 by British businessman Cecil Rhodes, who was financed by the South African diamond magnate Alfred Beit and the London-based N M Rothschild & Sons bank
- In 1926, Ernest Oppenheimer, a German immigrant to Britain who had earlier founded mining giant Anglo American plc with American financier J
- P
- Morgan, was elected to the board of De Beers
- He built and consolidated the company's global monopoly over the diamond industry until his death in 1957
- During this time, he was involved in a number of controversies, including price fixing, antitrust behaviour and an allegation of not releasing industrial diamonds for the US war effort during World War II
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