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Jodie N. Mader

diamond magnate, financier, imperialist, and philanthropist in southern Africa, was born in Hamburg, Germany, the eldest of six children. His father was an affluent merchant. Beit performed poorly in school, and in his teens he was sent to be an apprentice at the office of Jules Porges and Company in Amsterdam. In 1875, Beit went to Kimberley, South Africa, as a representative of the firm. While in Africa he went into property speculation and joined up with a young German named Julius Wernher. These two men formed the Wernher, Beit, and Company firm, which was known for its deep-level mining and use of cyanide processing for treating gold ore. His most famous friendship was with Cecil Rhodes, an English financier. They formed the De Beers Mining Company. Much of Rhodes’s success depended on the financial advice he received from Beit.

Together Rhodes and Beit worked to drive out other ...