Martin Rapaport

Martin Rapaport began his work as an apprentice diamond cutter in Antwerp, Belgium. In 1978, he created the Rapaport Price List, which would later become a pivotal tool in the diamond industry. In 1980, he established RapNet, an electronic diamond trading network that further revolutionized the trade. Rapaport is an active member of several non-profit and diamond industry-related organizations, including the Jewelers for Children Charity Fund, the Diamond Manufacturers and Importers Association of America, and the Jewelers Vigilance Committee.

Rapaport is known for influencing the diamond industry, with his publication of the Rapaport Diamond Report in the late 1970s becoming the de facto pricing baseline for wholesale polished diamonds. While some credit this guide with reducing diamond prices during the commodities boom of the 1970s, others have criticized it for attempting to commoditize diamonds. In 1982, Rapaport's efforts to create a diamond commodity market through the New York Commodities Exchange failed, a result he attributed to the diamond industry's resistance to price transparency.

In the early 2000s, Rapaport turned his attention to ethical issues within the diamond industry. He traveled extensively to Sierra Leone to investigate the diamond market, leading to his advocacy for the Kimberley Process Certification Scheme, a United Nations-diamond industry partnership aimed at ending conflict diamonds. He has also promoted the concept of "Fair Trade Diamonds," working to create mining collectives in Sierra Leone and advocating for better labor conditions and equitable distribution of profits. His publication of "Guilt Trip," was quoted in the United States Congressional Record:"Hundreds of millions of dollars of Sierra Leone diamonds are being traded on the world markets without any benefit going to the government or people of Sierra Leone. The real problem facing Sierra Leone is not merely how to share diamond resources among warring factions, but how to stop the illegal diamond industry from stealing the country's resources. But it goes beyond that. The bastards are not just stealing Sierra Leone's diamonds, they are trading them for guns. Guns which are used to kill people to keep the war going... The real challenge facing Sierra Leone and the world diamond trade, is how to stop this horrific murderous cycle of illegal diamond activity." Rapaport continues to address ethical issues within the industry through his annual International Diamond Conference, where he brings together non-governmental organizations like Global Witness and Amnesty International to meet with diamond industry leaders. His work has also included efforts to support artisanal diggers in West Africa, offering them fair prices and advocating for the establishment of "development diamond" labels. Rapaport, in cooperation with the U.S. Agency for International Development and Global Witness, invested $60,000 of his own money to create four alluvial mining cooperatives in Sierra Leone, but ultimately sees "Fair-Trade" diamonds as the solution to West Africa's woes.

Competitor diamond sellers have accused Rapaport of setting diamond prices too low, arguing that the methodology used to determine these prices is flawed or arbitrary. The Rapaport Diamond Corporation has also been criticized for publishing wholesale price guides for diamonds whilst allegedly trading diamonds directly to consumers. Some have gone further, accusing Rapaport of holding a monopoly on diamond grading through his association with the Gemological Institute of America.

His outspoken views on issues such as conflict diamonds, synthetic diamonds, diamond treatments, and Fair-Trade diamonds have been contentious, with competitors suggesting that his statements have had an impact on industry practices. Rapaport has also been seen as an unlikely ally to Non-Governmental Organizations in the diamond sector.

African People's Solidarity Committee

Criticism of Rapaport's efforts extends beyond industry insiders to activist groups like the African People's Solidarity Committee, who protested at the 2007 Rapaport International Diamond Conference in New York. They argued that "all diamonds are blood diamonds" and dismissed his efforts to support artisanal miners:"The African People's Solidarity Committee rejects this public relations ploy. They are calling for nothing less than all of Africa's resources under the control of the African working class itself. Africa is the richest continent on earth. Africans don't need charity; they need control over their own land."