De Beers is up for sale. The diamond industry’s in crisis mode. And now one of its most polarizing ex-CEOs—Gareth Penny—might be stepping back into the arena.
The former De Beers boss (2005–2010), who’s been mostly MIA from the diamond world for 15 years, is reportedly circling the company again. He’s been spotted at sights in Botswana, at JCK Vegas, and even in Dubai. The rumors? He’s building a dream team to take De Beers back—and reset the entire industry.
Others in the ring?
💰 Indian billionaire Anil Agarwal
🛠️ Aussie magnate Michael O’Keeffe
💎 KGK Group & Kapu Gems
👀 Ex-CEO Bruce Cleaver (but not teaming up with Penny)
Penny’s vision reportedly includes Qatari capital—yes, that Qatar—which is already raising geopolitical eyebrows. And his old "Supplier of Choice" policy still stings for many in the trade.
Will Anglo American really sell? Will Penny actually bid? Or will De Beers stay in limbo while the market claws its way out of recession?
If this deal goes through, it could reshape the entire natural diamond world.