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] | ||||
|---|---|---|---|---|
| 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 |
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 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.