Alfred Beit (15 February 1853 – 16 July 1906) was a 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.<ref name="Rönnbäck 2019">See chapter 12 in Rönnbäck & Broberg (2019) Capital and Colonialism. The Return on British Investments in Africa 1869-1969 (Palgrave Studies in Economic History)</</ref> Life and career Born and brought up in Hamburg, Germany, he was the eldest son and second of six children of an affluent Jewish-German citizen of Hamburg. His younger siblings included Otto Beit. Alfred Beit was an unpromising scholar and was apprenticed to Jules Porgès & Cie, the Amsterdam diamond firm where he developed a talent for examining stones. Beit made his first fortune in property speculation. Responding to a demand for business premises, he bought a piece of land and built twelve corrugated iron sheds for offices and rented eleven out monthly and kept one for himself. Twelve years later he sold the land for a considerable profit. Beit was sent to Kimberley, South Africa in 1875 by his firm to buy diamonds—following the diamond strike at Kimberley. He became a business friend of Cecil Rhodes through his role in the Kimberley Central Company. Beit was captivated by Rhodes' talk of 'big schemes'. Together, they proceeded to buy out digging ventures and to eliminate opposition such as Barney Barnato. He rapidly became one of a group of financiers who gained control of the diamond-mining claims in the Central, Dutoitspan, and De Beers mines. Rhodes was the active politician and Beit provided a lot of the planning and financial backing. Beit's diamond interests were mainly concentrated on Kimberley mine. He focused his main attention on the Kimberley Central Company aiming to expand its interests. He had a major role in the rise of Kimberley Central Company. In 1886 Beit extended his interests to the newly discovered goldfields of the Witwatersrand and met with great success. In his business ventures there