Sir Philip Oppenheimer; Headed Diamond Group

Sir Philip Oppenheimer, 83, who helped his family firm De Beers gain control of the world diamond market. A fixture at De Beers for six decades, the Cambridge-educated Oppenheimer joined his family’s company in 1933 as a diamond sorter and salesman trainee. After the Great Depression, many mines closed and companies were unable to sell large stocks of diamonds. But De Beers set up a producers cooperative, the Central Selling Organization, to restore stability. Oppernheimer, who was knighted in 1970, headed that London-based group from 1948 until 1993, controlling 80% of the world diamond trade. His greatest coup came in 1959 when he persuaded the Soviet Union to permit De Beers to market its diamonds. Oppenheimer was also known in racing circles, breeding winning horses and providing De Beers support for the King George VI and Queen Elizabeth Diamond Stakes at Ascot. On Oct. 8 in London.