Randlords (Afrikaans : randhere) were the capitalists who controlled the diamond and gold mining industries in South Africa from the 1870s up to World War I.
A small number of European 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 baronetcies in recognition of their contributions.
Gold Production on the Witwatersrand 1898 to 1910 [1] : 134 | ||||
---|---|---|---|---|
Year | No. of Mines | Gold output (fine ounces) | Value (£) | Relative 2010 value (£) [2] |
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 corporatisation, 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.
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.[ citation needed ]
Their architectural patronage has left a legacy across South Africa and in 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; [3] the Rhodes Scholarships at the University of Oxford were endowed by Cecil Rhodes.
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 rand in 1961.
The Jameson Raid was a botched raid against the South African Republic carried out by British colonial administrator Leander Starr Jameson, under the employment of Cecil Rhodes. It involved 500 British South Africa Company police launched from Rhodesia over the New Year weekend of 1895–96. Paul Kruger, for whom Rhodes had great personal hatred, was president of the South African Republic at the time. The raid was intended to trigger an uprising by the primarily British expatriate workers in the Transvaal but it failed. The workers were referred to as The Johannesburg Conspirators. They were expected to recruit an army and prepare for an insurrection; however, the raid was ineffective, and no uprising took place. The results included embarrassment of the British government; the replacement of Cecil Rhodes as prime minister of the Cape Colony; and the strengthening of Boer dominance of the Transvaal and its gold mines. The raid was a contributory cause of the Anglo-Boer War (1899–1902).
The Witwatersrand Gold Rush was a gold rush that began in 1886 and led to the establishment of Johannesburg, South Africa. It was a part of the Mineral Revolution.
Sir Ernest Oppenheimer, KStJ was a diamond and gold mining entrepreneur, financier and philanthropist, who controlled De Beers and founded the Anglo American Corporation of South Africa.
Alfred Beit was an Anglo-German gold and diamond magnate in South Africa, and a major donor and profiteer of infrastructure development on the African continent. He also donated much money to university education and research in several countries, and was the "silent partner" who structured the capital flight from post-Boer War South Africa to Rhodesia, and the Rhodes Scholarship, named after his employee, Cecil Rhodes. Beit's assets were structured around the so-called Corner House Group, which through its holdings in various companies controlled 37 per cent of the gold produced at the Witwatersrand's goldfields in Johannesburg in 1913.
Barney Barnato, born Barnet Isaacs, was a British Randlord and diamond magnate, one of the entrepreneurs who gained control of diamond mining, and later, gold mining in South Africa from the 1870s up to World War I. He is perhaps best remembered as being a rival of Cecil Rhodes.
Sir Julius Charles Wernher, 1st Baronet was a German-born Randlord, diamond magnate, and art collector who became part of the English establishment.
Parktown is a wealthy 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. Parktown is one of Johannesburg's largest suburbs, neighbouring Hillbrow, Braamfontein and Milpark to the South; Berea and Houghton to the East; Killarney and Forest Town to the North, and Westcliff, Melville and Richmond to the West. Originally established by the Randlords in the 1890s, Parktown is now home to many businesses, hospitals, schools, churches and restaurants, whilst still maintaining quiet residential areas. It is also home to three of the five campuses of the University of the Witwatersrand including the education campus, medical school and Wits Business School. It is located in Region F of the City of Johannesburg Metropolitan Municipality.
Jules 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.
Sir George Albu, 1st Baronet was a mining magnate in the diamond and gold industries of South Africa.
Sir Maximillian Michaelis, was a South African financier, mining magnate, benefactor and patron of the arts.
Sir Lionel Phillips, 1st Baronet was a British-born South African financier, mining magnate and politician.
Hermann Ludwig Eckstein was a German-born British mining magnate and banker.
Colonel 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.
Sir Otto John Beit, 1st Baronet, KCMG, FRS was a German-born British financier, philanthropist and art connoisseur.
James Benjamin Taylor was a South African Randlord. He followed a typical route to great wealth – diamonds in Kimberley, gold in Barberton and Pilgrim's Rest, and ending up on the Witwatersrand in Johannesburg. His ability to speak Afrikaans was instrumental in his rise, and he became a confidant of President Paul Kruger of the Zuid-Afrikaansche Republiek. He acted as intermediary between the Government and the mining industry, and was privy to many of the political machinations leading to the Jameson Raid and the Anglo-Boer War.
Zoo Lake is a popular lake and public park in Johannesburg, South Africa. It is part of the Hermann Eckstein Park and is opposite the Johannesburg Zoo. The Zoo Lake consists of two dams, an upper feeder dam, and a larger lower dam, both constructed in natural marshland watered by the Parktown Spruit.
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. The first of these mansions, Hohenheim was designed by Frank Emley and was built for Sir Lionel Phillips and his wife Lady Florence Phillips. The name Hohenheim had been used originally by Hermann Eckstein, one of the first Rand Lords to name his house after the place of his own birth. When Phillips became the head of Eckstein & Co, he moved in to Eckstein's house but due to the expansion of the city decided to build the new Hohenheim in an enviable site further from the mine workings. Sir Lionel Phillips was banished from the Republic for his involvement in the Jameson Raid. It is perhaps fitting that the next occupant of this famous house was none other than Sir Percy Fitzpatrick, the author of the best selling book 'Jock of the Bushveldt'. The house was demolished but a plaque remains in honor of this building.
Barnato Park High School is a co-educational school located in Berea, Johannesburg, South Africa. It was built on the site of the mansion that had been designed for Barney Barnato, the mining millionaire.
Sir Sigismund Neumann was a mining magnate (Randlord) and financier on the Witwatersrand.