Paul Diamond, a strategic investor, is not a household name. Yet surely, most are familiar with his big-name business ventures. Described as loyal at any cost and highly risk tolerant, a long career spanning many countries and several continents have made Paul Diamond who he is today. From beginnings in radio broadcasting and insurance, to the lucrative worlds of supermodels, fashion, real estate and aviation, we take a closer look at the makings of a man with much to learn from.
Apartheid in South Africa and Black Empowerment
In his twenties, Diamond began investing quietly but effectively across multiple industries. He showed a talent for identifying undervalued opportunities and structuring deals behind the scenes, while keeping his thumb on the pulse of Johannesburg’s evolving racial equality needs.
His ventures included one of South Africa’s early Black Economic Empowerment transactions — the purchase of a radio station known as Radio Algoa, marking the second privatization by the government of South Africa in respect of the sale of radio stations held by the national broadcaster (SABC). He also helped create one of the country’s first black-owned insurance companies, a breakthrough moment that required navigating complex racial and commercial barriers.
Black Economic Empowerment is a post-apartheid South African policy designed to redress economic inequalities of disadvantaged groups in the country
Beyond finance, Diamond consolidated modle agencies and related businesses under one group, launched a FMCG university supply company. His partnership with Tukkies University to develop proprietary software led to a major sale to a U.S. tech firm before the September 11th attacks halted negotiations.
After years in South Africa’s fast-evolving markets, Diamond built his name as a strategist capable of balancing risk and innovation. He often avoided publicity, preferring to work through private holdings and partnerships.
The Frankel Eight Case and Legal Legacy
Among his most public contributions, Diamond played a central role in a landmark South African case later known as the Frankel Eight. The constitutional challenge, covered by the Harvard Law Review, resulted in the abolition of South Africa’s 20-year prescription limit on sexual assault cases.
Though not a legal professional himself, Diamond’s persistence and strategy helped survivors achieve justice after decades of silence. The case stands as a precedent for extending justice beyond statutory limits — a cause that reflects his belief in accountability and reform.
Comair: British Airways’ Africa Franchise
Notably, Paul Diamond participated in a consortium investing in Comair, the British Airways franchise holder for Africa. Comair was a vital player in the African aviation market, operating under its own brand and as a British Airways franchisee. Its strategic position in South Africa allowed British Airways to maintain a strong presence in the region without directly managing local operations.
The business was unable to navigate the headwinds of the pandemic and was subsequently placed in liquidation.
The Global Expansion of Paul Diamond
Paul Diamond co-founded Luthier, a dynamic property and investment group established alongside partners Stephen Scrimgeour and Josh Kaplan. The firm was created with a strategic vision to identify, acquire, and enhance high-potential real estate assets across multiple jurisdictions.
Through a range of development partners, the team successfully developed and repositioned a series of multi-family real estate projects in New York City, capitalizing on emerging neighborhood trends and shifting housing demands. By combining deep market insight with disciplined investment practices, Luthier established a strong track record in value creation, making it a notable player in the competitive New York real estate landscape.
Real estate investments in New York have been a historic gamble, but Paul Diamond has brought much success to the investment group.
Diamond later made strategic moves into renewable energy in Europe — an emerging sector that would transform his portfolio.
One of these ventures, built in partnership with a Scandinavian blue-chip institution, became one of Europe’s leading renewable energy platforms, delivering exceptional returns and establishing Diamond as a quiet but formidable force in sustainable finance.
Paul Diamond: A Career Worth Studying
Paul Diamond’s story is one of quiet impact, strategic foresight, and a lifelong ability to navigate complexity across industries and cultures. While not a public figure, his influence spans from pioneering Black Economic Empowerment initiatives in post-apartheid South Africa to reshaping real estate markets in New York and advancing renewable energy solutions across Europe.
His career defies simple categorization — investor, reformer, operator, and strategist — all driven by an uncommon mix of risk tolerance, discretion, and long-term vision. Whether empowering underrepresented communities, guiding constitutional reform, or anticipating shifts in global finance, Diamond has consistently operated at the intersection of profit and purpose.
His ventures reflect not only a sharp business mind but also a deep sensitivity to social and political currents, often acting ahead of the market or public sentiment. From Johannesburg to London, Diamond’s influence has been both global and lasting. Perhaps what stands out most is not the scope of his portfolio, but the consistency of his principles — strategic partnerships, private capital, and quiet conviction.
In an age of loud ambition and short-term gains, Paul Diamond represents a different archetype: the behind-the-scenes architect of value and change, whose legacy is still unfolding.
