Portrait of Alfred Beit

People/financier

Alfred Beit

Alfred Beit (1853–1906), financier, from Germany. Linked to diamonds, gold.

The lucky break

At 17 he joined a Hamburg firm of South African merchants, was sent to Kimberley, and became Cecil Rhodes's close friend. In 1888 he advanced Rhodes 250000 pounds without security to complete the De Beers amalgamation.1,2

The downfall

His loyalty to Rhodes had penalties: he was concerned with Rhodes in placing Jameson's armed force on the Transvaal border in December 1895, before the raid.1,2

Legacy

His firm Wernher, Beit and Co. was a forerunner in the Rand deep-level system, which the DNB says is chiefly due for later Rand prosperity. He left the residue of his fortune to his brother Otto and left an estate at Hamburg to the city.1,2

Story cards

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People

FinancedCecil RhodesHe lent Rhodes 250,000 pounds with no security to finish the De Beers merger.1Partner ofJulius WernherWernher, Beit and Co. grew out of the Kimberley diamond trade.3,4Partner ofHermann EcksteinBeit's man on the Rand until his death in 1893.4Partner ofLeander Starr JamesonBeit was concerned with Rhodes in placing Jameson on the Transvaal border.1

Mines

Worked atKimberley Big HoleA Hamburg clerk sent to Kimberley ended up financing its takeover.1FinancedWitwatersrand main reef mines, 1886 to 1887His firm was a forerunner in deep-level Rand mining.1

Sources

  1. Beit, Alfred Dictionary of National Biography, 1912 supplement (public-domain text on Wikisource), article by C. W. Boyd
  2. File pages and licence metadata for portraits (via the Commons imageinfo/extmetadata API) Wikimedia Commons
  3. Dictionary of National Biography, 1927 supplement: Wernher, Julius Charles Wikisource (public domain source text)
  4. Dictionary of National Biography, 1912 supplement: Beit, Alfred Wikisource (public domain source text)

Pictures on this page: Alfred Beit00.jpg, Giovanni Boldini (Public domain); Julius Wernher02.jpg, Hubert von Herkomer (German-born British artist (1849-1914)) (Public domain); Hermann Eckstein00.jpg, not recorded on the file page (Public domain); SirLeanderStarrJameson.jpg, Ball (Public domain).

From the Prospector Trails mining history dataset: each fact links to the source it was checked against. Figures are as the source gives them, in the money of their day. Not investment advice.

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Cover photos from Wikimedia Commons: Super Pit, Kalgoorlie by Kgbo, CC BY-SA 4.0; Underground mining equipment by Kaupo Kikkas, CC BY-SA 4.0. Pictures: Pangkalpinang. Mijn 3b. Een reeks koelies bezig met het transporteeren van grond, Europeana (Public Domain Mark 1.0); Kimberley, South Africa: miners and washing gear at the Bultfontein diamond mine. Woodburytype, 1888, after a photograph by Robert Harris., Harris, Robert, active 1881-1888. (Public Domain Mark 1.0).