The Oppenheimer family, which has controlled much of the world diamond trade for more than 70 years, has tightened its already powerful grip with a $17.6 billion agreement to turn De Beers into a private company in partnership with its sister corporation, Anglo American, and other close allies.

Anglo American owns 85% of De Beers Group, the world’s leading diamond company. The remaining 15% is owned by the Government of the Republic of Botswana (GRB). De Beers Group and its partners produce around one third of the world’s rough diamonds, by value.

De Beers has three shareholders: Anglo American (45%), Central Holdings (40% – representing the Oppenheimer family) and the Government of the Republic of Botswana (15%). De Beers sa is the holding company of the De Beers group or “Family of Companies”.

De Beers would only release enough diamonds onto the market to meet annual demand, creating the appearance that diamonds were rarer than they actually were, enabling them to inflate diamond prices.

For a company that produces a product to signify love, such as an engagement ring, De Beers has left a significant amount of bloodshed and controversy in its wake. The company has been banned from operating or selling inside the United States borders since 1996 over a price-fixing case.

From its inception in 1888 until the start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was considered a monopoly….De Beers.

De Beers said it has the capacity to produce 200,000 carats of polished diamonds, or 400,000 pieces of diamond jewelry, a year. Those synthetic stones will be marketed under De Beers’ fashion jewelry brand, Lightbox. De Beers launched Lightbox in September 2018.

Price of 2 Carat Diamonds The price of a 2 carat diamond ranges from $6,500 to $55,000, depending on the diamond’s cut quality, clarity, color and shape.