In 1887 Rudd's interests had shifted to gold, the previous year discovered at the
Witwatersrand. With Rhodes and him as directors, and his brother Thomas as chairman, they registered
Gold Fields of South Africa Ltd in early 1887. The company was structured to enormously favor Rudd and Rhodes, with its London board unaware of most of their activities in southern Africa. On 30 October 1888 Rudd secured an agreement to the mineral rights of
Matabeleland and
Mashonaland from
Lobengula, the King of Matabeleland. The agreement became known as the
Rudd Concession. Matabeleland and Mashonaland form the bulk of what is now known as
Zimbabwe. Rhodes and Rudd had duped the British government and the investing public into believing that the concession was vested in the public company and made millions of pounds when the
British South Africa Company bought the concession. Rudd had disagreements with Rhodes, in 1895 proclaiming that he would no longer work with Rhodes, and perhaps was unaware of the Gold Fields' conspiracy which culminated in the disastrous
Jameson raid. Still, Rudd remained a friend of Rhodes and a director of Gold Fields until 1902, after which he retired to Scotland, "enjoying the life of an Edwardian plutocrat". In 1896, he bought the
Ardnamurchan estate in
Argyll, where he built two "houses", one of which,
Glenborrodale Castle, was just for his guests. He died in 1916 after an unsuccessful prostate operation in a nursing home in London. == Family ==