Wednesday’s Wealthy Wisdom

Laurence Graff, born in Stepney, London in 1938, is a renowned figure in the world of luxury jewelry and diamonds. His journey from a humble beginning to becoming a billionaire businessman and the founder of Graff Diamonds is a testament to his vision, craftsmanship, and business acumen.

Background:
Graff was born into a Jewish family, the son of a Romanian mother and a Russian father. His early life in London’s East End laid the foundation for his later success. Graff’s mother played a pivotal role in his career, enrolling him in a jewelry manufacturing workshop in London. He left school at the age of 14 to become an apprentice jeweler.

Career Highlights:

• Graff’s career in jewelry began with a partnership with Schindler, a jeweler, where he repaired rings and created small pieces of jewelry. He started selling his jewelry designs independently to jewelers across England after their shop closed down.
• In 1960, he founded Graff Diamonds. The company gained international acclaim when a ribbon bracelet designed by Robert Thomas, commissioned by Graff, won the De Beers Diamond International Awards competition in 1966.
• By 1974, Graff had begun specializing in selling high-end jewelry to wealthy buyers from the Middle East, including Hassanal Bolkiah, the 29th Sultan of Brunei.
• Graff Diamonds expanded globally, with over 35 stores in Africa, Asia, Europe, the Middle East, and the US.
• Notably, Graff purchased the Wittelsbach Diamond in 2008 for £16.4 million and later re-polished it, enhancing its clarity and value.

Net Worth:
As of 2020, Laurence Graff’s combined personal net worth with his son Francois was estimated at £3.785 billion. However, other sources estimate his net worth to be around $4.8 billion as of 2023. This wealth is attributed to his successful ventures in diamond jewelry, a polished diamond trading venture in Antwerp, real estate in London, and a stake in a South African diamond wholesaler.

Personal Life:
Graff married Anne-Marie, a French woman, in 1962, but they later divorced. He has three children from this marriage and two more from a relationship with Josephine Daniel. Graff is also known for his extensive art collection, including works of impressionism and contemporary art.

Laurence Graff’s life story is one of remarkable success, rising from an apprentice jeweler to a global leader in high-end diamond jewelry, recognized for his exceptional craftsmanship and business strategy. His contributions to the jewelry industry were acknowledged in 2013 when he was appointed an Officer of the Order of the British Empire (OBE) for his services to the jewelry industry.