IndependentsMar 14, 2025
Stafford’s Diamonds in Ohio to Close After 40 YearsThe Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.
MajorsMar 05, 2014
Who in jewelry is a billionaire?
The Oppenheimer family and diamantaire Laurence Graff still rank among the world’s richest while the founder of Firestar Diamond is a “new billionaire,” according to Forbes’ annual list of the world’s wealthiest people, which was released this week.
New York--The Oppenheimer family and diamantaire Laurence Graff still rank among the world’s richest while the founder of Firestar Diamond is a “new billionaire,” according to Forbes’ annual list of the world’s wealthiest people, which was released this week.
Nicky Oppenheimer and family are No. 205 on the list, worth an estimated $6.7 billion. After more than eight decades in the diamond business, the Oppenheimers sold their remaining stake in De Beers to Anglo American in 2012.
Graff ranks No. 305 on the Forbes’ list. The 75-year-old, a United Kingdom citizen whose residence is listed as Gstaad, Switzerland, has an estimated fortune of $4.8 billion. The source of his wealth is described by Forbes as “diamond jewelry, Self Made.”
Graff dropped out of school at age 14 and began his career in the jewelry industry as an apprentice in London’s Hatton Garden, where he scrubbed toilets as part of his job, according to Forbes.
Today, he is the modern-day equivalent of Harry Winston, buying some of the world’s most impressive diamonds, including the 35.56-carat blue Wittelsbach diamond, which he recut and renamed the Wittelsbach-Graff, and a 24.78-carat fancy intense pink diamond that he called the “Graff Pink.”
New to Forbes’ list this year is Nirav Modi, nephew of Gitanjali Gems’ Mehul Choksi and founder of diamond company Firestar International. Modi, a resident of Mumbai, came in at No. 1,372 with an estimated net worth of $1.2 billion.
The heads of three of the world’s largest luxury conglomerates also made the list: Bernard Arnault, chairman and CEO of LVMH Moët Hennessy Louis Vuitton, came in at No. 15 with an estimated fortune of $33.5 billion. François Pinault and family, head of Kering (formerly PPR), ranks as No. 58 with a fortune of $15.5 billion, while South African citizen Johann Rupert, the chairman of Richemont, is No. 173 with $7.6 billion.
Others with a jewelry (or watch) connection making the list include Esther Grether and family at No. 731 with an estimated net worth of $2.4 billion. A resident of Basel, Grether is the second-largest shareholder in the Swatch Group.
Brothers Nicola and Paolo Bulgari tied at No. 1,210 with an estimated net worth of $2.4 billion. Indian jeweler, T.S. Kalyanaraman, founder and chairman of Kalyan Jewellers, a chain of jewelry stores in Indian that advertises itself as a “gold supermarket,” is No. 1,565 with an estimated net worth of $1 billion.
Editors' Picks
Sponsored by
Topping the list again was Microsoft billionaire Bill Gates, 58, with an estimated net worth of $76 billion. Mexican telecom giant Carlos Slim Helu and family came in second, with an estimated net worth of $72 billion.
Spain’s Amancio Ortega, the 77-year-old founder of the company that owns clothing retailer Zara, is the world’s third richest man, according to the list, with an estimated net worth of $64 billion. Business magnate and Berkshire Hathaway Chairman Warren Buffett is No. 4 and Oracle co-founder Larry Ellison ranks as No. 5 with a $48 billion fortune.
View the entire list at Forbes.com.
More on Majors
The Latest
Events & AwardsMar 14, 2025
JVC Reveals Recipient of Stanley Schechter AwardReeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.
CollectionsMar 14, 2025
Piece of the Week: Sorellina’s Aries Zodiac PendantThe piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement RecoveryCEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.
Weekly QuizMar 14, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit BhansaliBhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.
IndependentsMar 12, 2025
Marla Aaron Migrates to LondonThe New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for SaleA metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo LineupsOrganizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
MajorsMar 07, 2025
Jane Fonda, Mariska Hargitay Star in Pomellato’s IWD CampaignThe annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ NecklaceThe statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.
