Word: engelhards
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Platinum King. Charles Engelhard took over, the family company, Engelhard Industries, Inc., from his father in 1950 and proceeded to build it into one of the world's largest refiners of precious metals (1959 net: $3,700,000). In the last decade he has expanded his total wealth from an estimated $65 million to more than $100 million. All this has earned him a title he hates: the Platinum King...
Dignity of Man. Engelhard has tried hard to become a part of South Africa's community and social life. He and his attractive, stylish wife, the daughter of a Brazilian diplomat, entertain as lavishly at their Johannesburg mansion as they do in their New Jersey country estate. He owns racing stables in North Carolina, South Africa and England. He is active in charities of both countries, last year was president of the Johannesburg branch of the South African National Tuberculosis Association and the Somerset Hills, N.J. Community Chest...
...Engelhard's interest in South Africa began after World War II, in which he served as a bomber pilot. He went to Africa to buy gold for his father's company, became so impressed with the opportunities that he began quietly launching his own ventures. By 1958 Engelhard felt strong enough to set up his $33.6 million American-South African Investment Co., Ltd., listed the shares on the New York Exchange, giving Americans their first opportunity to buy stocks in a South African company on a U.S. exchange. Last week he added to his holdings by agreeing...
...Engelhard-Oppenheimer investment giant, which will be called Rand Selection Corp., Ltd., is a holding company made up of a combine of six older holding companies, including three controlled by Oppenheimer and one, Rand American Investments, Ltd., owned by Engelhard. Rand Selection's portfolio will be 44% gold mines, some copper and coal mines, and industrial firms...
...policy. Once he made statements indicating that the racial problem in South Africa was no more serious than in the South. But since the Sharpeville riots a year ago, he has increased his opposition. While "you don't solve a problem by saying you are opposed to it," Engelhard feels that he is "doing something by pointing out the limitations of the world confidence in South Africa under existing conditions." He has emphasized to leading South Africans "that for world acceptance, they must begin to realize the dignity of man as a basic concept." As an outsider...