Diamond formations occur over millions of years deep in the Earth’s crust. And because only a minute percentage of diamonds mined are considered to be of gemstone quality, they are considered relatively rare and, thus, valuable. In fact, pure, natural diamonds have long established a consistent value by maintaining a relatively standardized benchmark or threshold price – like the precious metals of gold and silver.
While the economy’s overall health has some influence on diamond prices, this precious gemstone has consistently gained value over the years - about 14% per year since 1960! And, with continued global economic growth, the rising demand for luxury goods, and a decrease in diamond mining, the market price for gem-quality natural diamonds is anticipated to move in an upward direction.
Our Methodology
Multiple facets, no pun intended, define the diamond mining industry. These include rough stone mining cutting/polishing of gemstones, and more. The richest diamond owners in the world are made up of not only collectors and traders but also entrepreneurs and investors who have benefited from the world's largest diamond mines.
From mine owners, corporation executives, diamond connoisseurs, and investors, we formulated our list of the 20 richest diamond owners in the world today using data from these sources and more -
- The Diamond Registry
- Alux
- Forbes
- The Gemological Institute of America
- Buzz South Africa
- Buzz Learn, and more.
The 19 Richest Diamond Owners in the World
Diamond owners have had the opportunity to generate tremendous revenue and profits and have amassed great wealth within the various diamond industry divisions. The world's richest diamond owners include gem collectors, fine jewelry dealers, and investors in diamond mine businesses.
19. Robert Fayez Mouawad- $1 billion
The Lebanese business/politician known as Robert Fayez Mouawad was born as the third generation of the Maronite Christian Family – jewelers since the late 19th century based in Switzerland. Mouawad was the individual who expanded the Mouawad Company, a jewelry company that is distinguished for creating some of the world's most valuable and beautiful jewelry that works with celebrities and royal family members globally. The Mouawad Splendor refers to an 11-sided diamond that hit the Guinness Book of World Records as the most expensive single pear-shaped diamond in the world at that time.
18. Nirav Modi Net worth - $1 billion
Nirav Modi is a diamond jewelry designer and international businessman who first became noticed in the diamond industry in 2010. This Indian businessman, who owns Firestar Diamond Company in several countries, was born in 1971 and has been known to sell some incredible diamonds at Christie's – including a necklace that featured a 12.29-carat Golconda hanging from a pink diamond chain. In addition to providing diamonds to the U.S. Armed Forces bases, Modi has been involved in serious financial scandals in the diamond/jewelry business – one in which he was arrested after being a fugitive in the United Kingdom that could be valued as much as $2 billion. He has fought and lost extradition, and his wealth is now questionable while the legal process unfolds.
17. Jorg G Bucherer Net worth - $1.1 billion
Jorg Bucherer is a member and active chairman of the Switzerland-based Bucherer Group (that maintained 100 stores) and owner of several fine, high-quality diamonds – including the Reine Blanche, a necklace that features nearly 45 carats of brilliant diamonds. Bucherer also owns a Bulgari crossover ring with a 3.72 vivid blue diamond. In 2023, Bucherer increased his wealth (to an undetermined amount) when he sold the family watch/jewelry business to Rolex for $7 billion, which requires approval from relevant authorities.
16. Beny Steinmetz Net worth - $ 1.1 billion
Beny Steinmetz, who was born in Israel, is known for his role in the global diamond and mining business. Steinmetz inherited the Steinmetz Diamond Group, the largest buyer of De Beer's elite retail diamonds. Steinmetz, whose father is considered a diamond trade pioneer, began to grow the business globally by founding Beny Steinmetz Resource Group and establishing mines worldwide. In 2019, he faced bribery and corruption allegations from the government where he worked, but he has since settled. In January 2021, Beny Steinmetz was found guilty of bribing senior foreign public officials in Switzerland, and after he lost his appeal, he will pay a fine and serve a prison term.
15. Fred Mouawad Net worth - $1.2 billion
Fred Mouawad, another Mouawad Family member, is one of three individuals responsible for guarding and operating the Geneva-based family jewelry and fine watch-making business, generating hefty profits for many years. The Mouawad brand, which was founded just before the 20th century, has been known for creating exquisitely beautiful, high-end, and pricey jewelry pieces. Fred Mouawad has played a role in expanding the family business, which has led to its and his personal success. Fred and his partners are expert buyers and sellers of fine jewelry and diamonds, which makes them some of the richest diamond owners in the world.
14. Christo Wiese Net worth - $1.2 billion
Christo Wiese is among the richest diamond owners in the World and one of the richest men in South Africa. With some creative business negotiations and financing, Wiese managed to take over the Trans Hex Group, which is a Cape Town-based diamond mining operation. With his partners, Wiese controls 72% of the mining operations. He initially grew his wealth as the country’s biggest retailer, Shoprite, until a 2017 financial scandal that caused the stock to drop. At one point, it was reported that Wiese had a net worth that exceeded $6 billion.
13. Dan Gertler Net worth - $1.2 billion
Dan Gertler is a diamond magnate who generated his great fortune by investing in iron or copper, gold, cobalt, and diamond mines by choosing smart locations to operate in the Democratic Republic of Congo, where he knew the country’s president, Joseph Kabila, who gave him permission to engage in investment activities in the DRC. He is the grandson of the first president/co-founder of the Israel Diamond Exchange. He founded the Dan Gertler International conglomerate of companies. Gertler's business dealings have been scrutinized by the International Monetary Fund (IMF) and the World Bank for over a decade, as many believe he has exploited the countries where he works.
12. Lev Leviev Net worth - $1.4 billion
Lev Avernerovich Leviev is a diamond magnate who began his life as an immigrant from Uzbekistan. His company cuts/polishes more diamonds than anyone else in the world. He was the chairman of the Africa Israel Investments Company and a noted philanthropist for causes in Eastern Europe and Israel, and he has become the largest private Israeli investor in Las Vegas. His diamond mine interests are in Alaska, Russia, Angola, and more worldwide. He also maintains a high-end diamond boutique with locations in Singapore, Dubai, London, and New York City. The expansion has created a significant niche in the jewelry business for Leviev as one primary resource for fine, high-end specialty pieces.
11. Caroline Scheufele Net worth - $1.9 billion
Caroline Scheufele is Chopard’s co-president and artistic director. She shares the presidency of this well-known jeweler with her husband, Karl Scheufele. Caroline is an expert of cut stone diamonds and has successfully purchased some fine examples for the family business. She is the daughter of German entrepreneurs who wisely purchased the fine watch-making business in the early 1960s before adding a jewelry line. Under the direction of Scheufele, Chopard has become one of the first brands to utilize raw materials that comply with the highest possible social/environmental standards.
10. Tokyo Sexwale Net worth - $2.1 Billion
Mosima Gabriel "Tokyo" Sexwale was the South African housing minister for the country who served his country under Jacob Zuma. Tokyo got his nickname from his love of karate. He is a diamond mogul, businessman, politician, anti-apartheid activist, and former political prisoner. He served a sentence along with political prisoner Nelson Mandela and was released in 1990. When Mandela came into power in 1994, Sexwale was named the Gauteng province's premier but eventually left politics. Sexwale generated his fortune through various investments in diamond mining and oil.
9. Anne-Marie Graff Net worth - $2.1 billion
Anne-Marie Graff is a professional investor and significant shareholder in Graff Diamonds, a company that was founded by her husband, Laurence, in 1969. The Graff family owns a stake in Safdico, a South African diamond/polishing business and wholesale firm. Graff Diamond operates as an integrated diamond production and retail firm that sells finished products through its retail division, and the company procures and polishes the jewelry. She is quite philanthropic, starting the Graff Foundation, which donates about $800,000 annually to the children of Africa. Anne has made our list of the richest diamond owners in the world independent of her husband because she has been actively involved in the business in her own right.
8. Nicolas Hayek Jr. Net worth - $2.5 billion
Nicolas George Hayak Sr. is also known as Mr. Swatch, as he co-founded the jewelry group that has made him one of the richest diamond owners in the world. Swatch Group is now the world's largest manufacturer of finished watches, with 156 factories. His father was the company's CEO and eventually purchased the exclusive Harry Winston company. Hayek is of both Swiss and Lebanese descent and is best known for buying the Winston Legacy diamond that weighed in at an astonishing 101.73 carats, which was sold again in 2013 for a whopping $26.7 million.
7. Laurence Graff Net worth - $3.4 billion
Laurence Graff founded Graff Diamonds after spending time as an apprentice in the diamond business. The jewelry company specializes in rare or large gems and those of giant size. Graff has helped many rich, elite, and famous clients, including Elizabeth Taylor and the Sultan of Brunei. He also owns the 31+ carat Wittelsback-Graff Diamond and the 24.78 carat Graff Pink. The company focuses on the elite rare and valuable stones that have garnered international acclaim.
6. David Kassel Net worth - $6 billion
David Kassel is a seasoned diamond industry investor who has also served as the chairman of South Africa’s New Reclamation Group of South Africa. As a prudent businessman, Kassel keeps his portfolio diversified and has played an integral role in the Chiadzwa diamonds story and some of the questionable mining that had been done in Zimbabwe. He has since stepped back from an active role.
5. Nicky Oppenheimer Net worth - $9.5 billion
Nicky Oppenheimer, who has earned an Oxford master’s degree, is among the richest individuals in South Africa. Oppenheimer has been the chairman of the world-famous De Beers Diamond company, which also owns the subsidiary Diamond Trading Company. Nicky followed his father’s and grandfather’s footsteps, which helped amass his tremendous fortune, and it is a legacy that has continued for decades. He received the Botswanan 2004 Presidential Order of Honor Festus Mogae and an honorary fellowship in 2009 from the London Business School.
4. Joseph Lau Net worth - $13 billion
Joseph Lau, the Hong Kong billionaire who made much of his fortune in real estate development, recently purchased the Blue Moon diamond for a record amount of $48.5 million for his daughter Josephine. According to Sotheby's, this purchase was the highest price per carat for a diamond, an astonishing four million dollars per carat. In addition, this tycoon also bought a 16+ carat diamond for $28.5 million only a few days before. In 2014, Lau was convicted of a felony and became a fugitive in Macau, but he still lives in Hong Kong’s most expensive home.
3. Cheng Yu-tung Net worth - $16.6 billion
Cheng Yu-tung made the list of richest diamond owners in the world when he purchased the Cullinan Heritage diamond in 2010 – 507 carat gem for $35.3 million, which ranks as the most paid for any rough stone/diamond ever. Cheng Yu-tung has the honor as serving as an honorary chairman of the biggest jewelry retailer in the world - Chow Tai f*ck. His fortune was built from lifelong comprehensive investment business strategies that included businesses, hotels, property, and transportation interests across the globe. In the 1980s, after becoming a majority stakeholder in. Chinese Estates Holdings, the company, developed the tallest retail complex in Hong Kong.
2. Savji Dhanji Dholakia Net worth - $38 billion
Savji Dhani Dholakia is of Indian descent and among the richest diamond owners in the world. He quit school when he was just 13 years old to work at the diamond business that his uncle owned in Surat. Dholakia founded Hari Krishna Exports Pvt. Ltd., a company that manufactures and exports diamonds with affiliates worldwide, including the Far East, the Middle East, and the United States. His experience and industry seasoning have given him the opportunity to amass great wealth.
1. Prince Alwaleed bin Talal bin Abdulaziz Al Saud Net Worth - $39 billion
Prince Al Waleed is a national of Saudi Arabia. He holds the position of CEO and Chairman of the Kingdom Holding Company. Prince Al Waleed is a wise investor and entrepreneur, investing in real estate, construction, and diamonds to support the already lucrative oil market. Prince Al Waleed commissioned Mercedes Benz to create a vehicle that was fully encrusted with diamonds. Diamonds cover the entire car – from handles to rims, which is reported to have cost $48 million.
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