Randlord
Encyclopedia
Randlord is a term used to denote the entrepreneurs who controlled the diamond
and gold
mining industries in South Africa
in its pioneer phase from the 1870s up to World War I
.
A small number of European adventurers and financiers, largely of the same generation, gained control of the diamond mining industry at Kimberley, Northern Cape
. They set up an infrastructure of financing and industrial consolidation which they then applied to exploit the discoveries of gold from 1886 in Transvaal
at Witwatersrand
— the "Rand". Once based in the Transvaal many set up residence in the mansions of Parktown
.
Many of the Randlords received baronet
cies from Queen Victoria in recognition of their contributions.
As the first generation of Randlords died or retired, the next generation concentrated on the process of consolidation and corporatization, developing the mining companies into integrated quoted companies. Cecil Rhodes's first round of diamond mine consolidation with De Beers Consolidated Mines
was continued by Sir Ernest Oppenheimer
(1880–1957) best represents this phase, with his strengthening of the market power of De Beers and his development from 1917 of the giant Anglo American
mining company (whose gold interests are now held by AngloGold Ashanti
. Other Johannesburg mining houses formed the basis of other corporate mining giants which still exist. For example: Porgès and Eckstein's "Corner House" became Randgold Resources
; Rhodes's Consolidated Gold Fields became Gold Fields Limited; George and Leopold Albu's General Mining and Finance Corporation became Gencor; Barney Barnato's Johannesburg Consolidated Investment Company or "Johnnies" became JCI Limited
.
Their architectural patronage has left a legacy across South Africa and England. In Johannesburg alone, structures such as the Randlord mansions on Parktown
Ridge sprang up, many designed by Sir Herbert Baker. The Johannesburg Art Gallery in Joubert Park was championed by Florence Phillips, wife of Sir Lionel Phillips. Across the UK, many public collections and mansions bear witness to the wealth of the Randlords, including the Wernher Collection, formerly at Luton Hoo
and now at Ranger's House.
Amongst many philanthropic ventures by Randlords, the Beit Trust established by Sir Alfred Beit built over 400 bridges in southern Africa; the Rhodes Scholarships at the University of Oxford
were endowed by Cecil Rhodes.
in 1961.
Diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
and gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
mining industries in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
in its pioneer phase from the 1870s up to World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
.
A small number of European adventurers and financiers, largely of the same generation, gained control of the diamond mining industry at Kimberley, Northern Cape
Kimberley, Northern Cape
Kimberley is a city in South Africa, and the capital of the Northern Cape. It is located near the confluence of the Vaal and Orange Rivers. The town has considerable historical significance due its diamond mining past and siege during the Second Boer War...
. They set up an infrastructure of financing and industrial consolidation which they then applied to exploit the discoveries of gold from 1886 in Transvaal
South African Republic
The South African Republic , often informally known as the Transvaal Republic, was an independent Boer-ruled country in Southern Africa during the second half of the 19th century. Not to be confused with the present-day Republic of South Africa, it occupied the area later known as the South African...
at Witwatersrand
Witwatersrand
The Witwatersrand is a low, sedimentary range of hills, at an elevation of 1700–1800 metres above sea-level, which runs in an east-west direction through Gauteng in South Africa. The word in Afrikaans means "the ridge of white waters". Geologically it is complex, but the principal formations...
— the "Rand". Once based in the Transvaal many set up residence in the mansions of Parktown
Parktown mansions
The mansions of Parktown are an important part of the history of the city of Johannesburg. They were the homes of the Randlords, accountants, military personnel and other influential residents of early Johannesburg, dating back as early as the 1890s...
.
Many of the Randlords received baronet
Baronet
A baronet or the rare female equivalent, a baronetess , is the holder of a hereditary baronetcy awarded by the British Crown...
cies from Queen Victoria in recognition of their contributions.
Notable Randlords
- Sir George Albu, 1st BtGeorge Albuthumb|Lady Albu at wheel of CGV, London April 1905thumb|Northwards, Johannesburg 26.17720S, 28.03650ESir George Albu, 1st Baronet was a mining magnate in the diamond and gold industries of South Africa.-History:...
(1857–1935) - Leopold Albu (1861–1938)
- Sir Abe BaileyAbe BaileySir Abraham "Abe" Bailey, 1st Baronet, KCMG , was a South African diamond tycoon, politician, financier and cricketer.-Early years:...
(1864–1940) - Barney BarnatoBarney BarnatoBarney Barnato , born Barnet Isaacs, was a British Randlord, one of the entrepreneurs who gained control of diamond mining, and later gold mining, in South Africa from the 1870s.-Background:...
(1852–1897) - Alfred BeitAlfred BeitAlfred Beit was a German, British South African, Jewish gold and diamond magnate, a supporter of British imperialism in Southern Africa and a major donor towards infrastructure development in central and Southern Africa, and to university education and research in several countries.- Life and...
(1853–1906) - Sir Otto Beit, 1st BtOtto BeitSir Otto John Beit, 1st Baronet, KCMG, FRS was a German-born British financier, philanthropist and art connoisseur.- Life history and career :...
(1865–1930) - Hermann Ludwig Eckstein (1847–1893)
- Friedrich Gustav Jonathan Eckstein (1857–1930)
- Sir George Herbert FarrarGeorge Herbert FarrarSir George Herbert Farrar, 1st Baronet, DSO Sir George Herbert Farrar, 1st Baronet, DSO Sir George Herbert Farrar, 1st Baronet, DSO (17 June 1859 Chatteris, Cambridgeshire – 20 May 1915 Kuibis, South West Africa, was a South African mining magnate, politician and soldier - Colonel and assistant...
(1859–1915) - Adolf GoerzAdolf GoerzAdolf Goerz was a German-South African mining engineer.He emigrated to Africa around 1888. He founded Adolf Görz & Co which later became the Union Corporation, which was one of the five original gold mining houses of South Africa....
(1857–1900) - John Hays HammondJohn Hays HammondJohn Hays Hammond was a famous mining engineer, diplomat, and philanthropist. Known as the man with the midas touch, he amassed a sizable fortune before the age of 40. An early advocate of deep-level mining, Hammond was given complete charge of Cecil Rhodes' mines in South Africa and made each...
(1855–1936)
- Sir David Harris (1852–1942)
- Gustav ImrothGustav ImrothGustav Imroth was a minor Randlord who played a role in the development of the South African diamond-mining industry and sports....
(1862–1946) - Solomon JoelSolomon JoelSolomon Barnato Joel was a South African financier and mining, brewing and railway magnate.-Career:Known as "Solly", he was born into a Jewish family, being one of three sons of Joel Joel , and Kate Isaacs, who was a sister of Barnett Isaacs, later to be called Barney Barnato...
(1865–1931) - Woolf Joel (1863–1898)
- John Dale LaceJohn Dale LaceColonel John Dale Lace was a South African gold and diamond mining magnate and Randlord. He was born in Port St Mary on the Isle of Man....
(1859–1937) - Isaac Lewis (1849–1927)
- Samuel Marks (1843–1920)
- Sir Carl MeyerCarl MeyerSir Carl Ferdinand Meyer, 1st Baronet was a British banker and mining magnate.-Personal life:Meyer was born in Hamburg, Germany, the second son of Siegmund Meyer and Elise Rosa Hahn daughter of Reuben Hahn. He became a naturalised British subject in 1877...
- Maximilian MichaelisMax MichaelisSir Maximilian Michaelis was a South African financier, mining magnate, benefactor and patron of the arts....
(1852–1932) - Sigismund Neumann (1857–1916)
- Sir Lionel Phillips, 1st BtLionel PhillipsSir Lionel Phillips, 1st Baronet was a South African mining magnate and politician.-Early life:Phillips was born in London on 6 August 1855 to a family of lower middle-class merchants, who formed part of a growing group of Jews set to play a major role in the commerce and politics of...
(1855–1936) - Jules PorgèsJules PorgèsJules Porgès was a Paris-based financier who played a central role in the rise of the Randlords who controlled the diamond and gold mining industries in South Africa....
(1838–1921) - Cecil John RhodesCecil John RhodesCecil John Rhodes PC, DCL was an English-born South African businessman, mining magnate, and politician. He was the founder of the diamond company De Beers, which today markets 40% of the world's rough diamonds and at one time marketed 90%...
(1853–1902) - Sir Joseph Benjamin Robinson, 1st BtJoseph Benjamin RobinsonSir Joseph Benjamin Robinson, 1st Baronet was a South African mining magnate and Randlord. Born in Cradock, Cape Colony, died Wynberg, Cape Town....
(1840–1929) - Charles Ernest Rube (1852–1914)
- Charles Dunell RuddCharles RuddCharles Dunell Rudd was the main business associate of Cecil John Rhodes.Rudd studied at Harrow School and then entered Trinity College, Cambridge in 1863, where he excelled in playing rackets...
(1844–1916) - Jim B Taylor
- Sir Julius Wernher, 1st BtJulius WernherSir Julius Charles Wernher, 1st Baronet was a German-born Randlord and art collector who became part of the English establishment.-Life history:...
(1850–1912) - Sir Thomas CullinanSir Thomas CullinanSir Thomas Cullinan was a South African diamond magnate. He is renowned for giving his name to the Cullinan Diamond, the largest diamond ever discovered, and as owner of the Premier Mine, now renamed the Cullinan Mine, from which the famous gem was extracted on 26 January 1905...
(1862–1936)
Industrial legacy
| Gold Production on the Witwatersrand 1898 to 1910 | ||||
|---|---|---|---|---|
| Year | No. of Mines |
Gold output (fine ounces) |
Value (GB£ Pound sterling The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence... ) |
Relative 2010 value (GB£ Pound sterling The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence... ) |
| 1898 | 77 | 4,295,608 | £15,141,376 | £6,910,000,000 |
| 1899 (Jan-Oct) | 85 | 3,946,545 | £14,046,686 | £6,300,000,000 |
| 1899 (Nov- 1901 Apr) | 12 | 574,043 | £2,024,278 | £908,000,000 |
| 1901 (May-Dec) | 12 | 238,994 | £1,014,687 | £441,000,000 |
| 1902 | 45 | 1,690,100 | £7,179,074 | £3,090,000,000 |
| 1903 | 56 | 2,859,482 | £12,146,307 | £5,220,000,000 |
| 1904 | 62 | 3,658,241 | £15,539,219 | £6,640,000,000 |
| 1905 | 68 | 4,706,433 | £19,991,658 | £8,490,000,000 |
| 1906 | 66 | 5,559,534 | £23,615,400 | £9,890,000,000 |
| 1907 | 68 | 6,220,227 | £26,421,837 | £10,800,000,000 |
| 1908 | 74 | 6,782,538 | £28,810,393 | £11,700,000,000 |
| 1909 | 72 | 7,039,136 | £29,900,359 | £12,200,000,000 |
| 1910 | 63 | 7,228,311 | £30,703,912 | £12,400,000,000 |
As the first generation of Randlords died or retired, the next generation concentrated on the process of consolidation and corporatization, developing the mining companies into integrated quoted companies. Cecil Rhodes's first round of diamond mine consolidation with De Beers Consolidated Mines
De Beers
De Beers is a family of companies that dominate the diamond, diamond mining, diamond trading and industrial diamond manufacturing sectors. De Beers is active in every category of industrial diamond mining: open-pit, underground, large-scale alluvial, coastal and deep sea...
was continued by Sir Ernest Oppenheimer
Ernest Oppenheimer
Sir Ernest Oppenheimer was a diamond and gold mining entrepreneur, financier and philanthropist, who controlled De Beers and founded the Anglo American Corporation of South Africa.-Career:...
(1880–1957) best represents this phase, with his strengthening of the market power of De Beers and his development from 1917 of the giant Anglo American
Anglo American (mining)
Anglo American plc is a global mining company headquartered in London, United Kingdom. It is a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal and the world's largest producer of platinum, with around 40% of world output...
mining company (whose gold interests are now held by AngloGold Ashanti
AngloGold Ashanti
AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents...
. Other Johannesburg mining houses formed the basis of other corporate mining giants which still exist. For example: Porgès and Eckstein's "Corner House" became Randgold Resources
Randgold Resources
Randgold Resources is a Jersey-based gold mining business operating mainly in Mali. It is listed on the London Stock Exchange and the NASDAQ stock exchange and is a constituent of the FTSE 100 Index.-History:...
; Rhodes's Consolidated Gold Fields became Gold Fields Limited; George and Leopold Albu's General Mining and Finance Corporation became Gencor; Barney Barnato's Johannesburg Consolidated Investment Company or "Johnnies" became JCI Limited
JCI Limited
JCI or Johannesburg Consolidated Investment Co. Ltd. was founded in 1889 by the British entrepreneur Barney Barnato. JCI was a major force in South African mining for over 100 years. Using his investments in the Kimberley diamond fields, particularly his 25% share in De Beers, Barnato foresaw the...
.
Philanthropy and cultural legacy
The Randlords came largely from humble backgrounds, and many used their fortunes to elevate their position in society. A significant number overcame the prejudices against nouveaux-riches and Jews to gain entry to the English "establishment" and received knighthoods.Their architectural patronage has left a legacy across South Africa and England. In Johannesburg alone, structures such as the Randlord mansions on Parktown
Parktown
Parktown is a suburb of Johannesburg, South Africa, the first suburb north of the inner-city. It is affectionately known as one of the Parks, others including Parkview, Parkwood, Westcliff, Parktown North, Parkhurst and Forest Town...
Ridge sprang up, many designed by Sir Herbert Baker. The Johannesburg Art Gallery in Joubert Park was championed by Florence Phillips, wife of Sir Lionel Phillips. Across the UK, many public collections and mansions bear witness to the wealth of the Randlords, including the Wernher Collection, formerly at Luton Hoo
Luton Hoo
Luton Hoo straddles the Hertfordshire and Bedfordshire borders between the towns of Harpenden and Luton. The unusual name "Hoo" is a Saxon word meaning the spur of a hill, and is more commonly associated with East Anglia.- Early History :...
and now at Ranger's House.
Amongst many philanthropic ventures by Randlords, the Beit Trust established by Sir Alfred Beit built over 400 bridges in southern Africa; the Rhodes Scholarships at the University of Oxford
University of Oxford
The University of Oxford is a university located in Oxford, United Kingdom. It is the second-oldest surviving university in the world and the oldest in the English-speaking world. Although its exact date of foundation is unclear, there is evidence of teaching as far back as 1096...
were endowed by Cecil Rhodes.
Other uses
Randlord may also be used loosely as a term for any wealthy South African businessman. The phrase gained extra meaning when the currency of South Africa was renamed the randSouth African rand
The rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"...
in 1961.
See also
- History of the Jews in South Africa
- Joel familyJoel familyThe Joel family of England was headed by three brothers, Jack, Woolf and Solomon, who made a fortune in diamond and gold mining in South Africa...
- Oppenheimer family (De BeersDe BeersDe Beers is a family of companies that dominate the diamond, diamond mining, diamond trading and industrial diamond manufacturing sectors. De Beers is active in every category of industrial diamond mining: open-pit, underground, large-scale alluvial, coastal and deep sea...
) - List of diamond mines
- Woolf BarnatoWoolf BarnatoJoel Woolf Barnato was a British financier and racing driver, one of the "Bentley Boys" of the 1920s. He achieved three consecutive wins out of three entries in the 24 Hours of Le Mans race.-Early life:...
- Jameson RaidJameson RaidThe Jameson Raid was a botched raid on Paul Kruger's Transvaal Republic carried out by a British colonial statesman Leander Starr Jameson and his Rhodesian and Bechuanaland policemen over the New Year weekend of 1895–96...
Sources
- Maryna Fraser, ‘Randlords (act. 1880s–1914)’, Oxford Dictionary of National Biography, online edn, Oxford University Press, Oct 2006 accessed 7 Oct 2006
Further reading
- Michael Stevenson – Art & Aspirations, the Randlords of South Africa and their Collections
- Geoffrey Wheatcroft – The Randlords: The Men Who Made South Africa (Weidenfeld, 1985) ISBN 0-297-78437-4