The Oppenheimers sold their 40 percent of De Beers for $5.1 billion in 2011, and in 2026 Anglo American offered its 85 percent for about $1 billion

Ernest Oppenheimer, founder of Anglo American, took control of De Beers in 1926. The chairmanship passed to his son Harry and then to his grandson Nicky. In 2011 Nicky Oppenheimer, 66, stepped down from the Anglo American board, the first time no family member had sat on it since the company was founded. On 4 November 2011 Anglo agreed to buy the family's 40 percent of De Beers for $5.1 billion in cash. Anglo already held 45 percent and the government of Botswana 15 percent. Nicky called it "a momentous and difficult decision" and said the family was unanimous. An analyst called the price low, but said that for the Oppenheimers "there was only one buyer." The sale ended more than 80 years of family ownership. The family put money into African consumer and farming businesses through a venture with Singapore's Temasek. Diamond prices later fell, and Anglo wrote down De Beers by $2.3 billion. On 29 July 2026 Bloomberg reported that Anglo had set a price of $1 billion for its 85 percent, sold to a consortium led by former De Beers chief executive Gareth Penny. The figure values all of De Beers at about $1.18 billion. Botswana holds pre-emption rights. The deal was expected to close in the last quarter of 2026 and was not confirmed by the parties.