Nicky Frank Oppenheimer was educated at Harrow School and Christ Church, Oxford, England, where he read Politics, Philosophy and Economics. He spent his working life first with Anglo American Corporation and then with De Beers and retired as Chairman of De Beers in 2012 when the family stake was sold to Anglo American plc.

In 2003, a Doctorate in Technology, honoris causa was bestowed upon him by the Technikon Witwatersrand in South Africa. He was the first recipient of such an honorary doctorate by the Technikon to a person in the public and private sector.

In 2004 Nicky received the Presidential Order of Honor from His Excellency the President of the Republic of Botswana, Mr Festus Gontebanye Mogae, and was awarded a Honorary Fellowship by the London Business School in 2009.

Nicky assumed the chairmanship of the Trust in January 2014.