Who Is Đorđe Vajfert

Đorđe Vajfert (German: Georg Weifert; born in Pančevo, 15 July 1850 – died in Belgrade, 12 January 1937) was a Serbian industrialist of German descent, a brewer, banker and philanthropist. He is regarded as one of the greatest businessmen in Serbia in the late 19th and early 20th centuries, and many call him the founder of modern mining in the country.

His name is linked to the First Serbian Steam Brewery in Belgrade, the discovery of copper ore in Bor in 1903 and the decades he spent running the National Bank. As governor, he headed the central bank in two terms, from 1890 to 1902 and from 1912 to 1926, and he then held the title of lifetime honorary governor until his death.

Although he came from a Danube Swabian family in the Banat, Vajfert embraced Serbia as his homeland. He became a Serbian citizen, fought as a volunteer in war and invested a large part of his fortune in the country’s development. Today many people remember him above all for the portrait on the 1,000-dinar banknote.

Origins and Childhood

Đorđe Vajfert was born in Pančevo, a town at the confluence of the Tamiš and the Danube, which then belonged to the Habsburg Monarchy. Sources do not agree on his date of birth: the National Bank of Serbia and most press articles give 15 July 1850, while some sources mention 15 June of the same year.

The Weifert family traced its roots to Upper Austria. His grandfather, also named Georg (1798–1887), moved to the Banat at the beginning of the 19th century, first settling near Vršac and later in Pančevo. He laid the foundations of the family business and sent his son Ignaz to Munich to learn the brewer’s trade in the city’s breweries.

Ignaz Weifert (Ignjat Vajfert in Serbian, 1826–1911) took over the Pančevo brewery in 1849 and later modernized and expanded it. Đorđe’s mother, Anna, also came from Pančevo, and he later built a small chapel in her memory known as Anina crkva (Anna’s Church). He also had a brother, Hugo, who stayed with their father in the Pančevo brewery.

He therefore grew up in a family in which brewing was a deep-rooted tradition. From a very early age he worked alongside his father and learned the trade in the brewery itself, well before he went away for formal schooling.

Education

Vajfert completed his primary and secondary schooling in Pančevo, where he studied in German and Hungarian. He then enrolled at the Commercial Academy in Budapest, where he gained knowledge of trade and business that would later serve him well in both industry and banking.

He completed his vocational training in Germany, at the Grand Brewing School in Weihenstephan near Munich, from which he graduated in 1872. During his studies he was a member of the student association Agronomia, which still exists today as Corps Alemannia in Munich.

This blend of commercial and technical education proved decisive. While many brewers of his day knew only the craft, Vajfert understood production and the market, finance and the organization of a large enterprise.

Early Career and Move to Belgrade

The Weiferts had begun doing business in Serbia long before Đorđe moved to Belgrade. In 1865, Ignaz and his son leased the so-called Prince’s Brewery, which was owned by the Obrenović family and stood near today’s Admirala Geprata and Balkanska streets. The brewery was modest at the time, but it did well.

After returning from Munich in 1872, Đorđe joined the construction of a new, modern brewery in Belgrade. As soon as he obtained Serbian citizenship, he also acquired the land on which the brewery would stand. Sources differ on the year he became a citizen: the National Bank of Serbia and most sources say 1873, while some say 1872.

Around that time he married Marija Gisner. The marriage took place in 1873, and fifty years later the couple celebrated their golden wedding anniversary. At the same time, Vajfert moved to Belgrade, where he would spend the rest of his life.

His father Ignaz built the brewery and immediately entrusted its management to his son. Thus Đorđe, barely in his early twenties, became the head of one of the most important industrial plants in Serbia at the time.

Volunteer in the Serbian–Ottoman War

When the Serbian–Ottoman War broke out in 1876, Vajfert volunteered for a cavalry unit of the Serbian army. Although he could have stayed out of it and devoted himself to business, he fought in person, and he also donated money to buy cannons and food for the army.

According to the account repeated in Serbian media, one night he rode a long distance on horseback to deliver important information to the army. For the courage he showed and his contribution to the war, Milan Obrenović awarded him the Order of the Cross of Takovo.

Of all his domestic and foreign decorations, this was the one he valued most. During his lifetime Vajfert said he wanted to be buried with it, which says a great deal about the importance he attached to his wartime service for his new homeland.

The First Serbian Steam Brewery and Rise to Fame

The brewery that Vajfert ran in Belgrade opened in 1873 under the name “First Serbian Steam Brewery Đorđe Vajfert A.D.” It stood in Senjak, on the site where the Belgrade Brewing Industry, known as BIP, would later grow. It played an important role in the industrialization of Serbia and in time became the leading brewery in the Balkans, both in output and in quality.

Vajfert’s beer won recognition beyond Serbia. At the world exhibitions in Paris in 1889 and 1900 it received gold medals, and for a long time it was regarded as a synonym for the best beer in this part of Europe. At the 1900 exhibition, the Belgrade brewer Bajloni won a silver medal.

Beer cellars were built alongside the brewery, about 70 meters long and about 32 meters wide, divided into 14 sections. In 1892–1893, Vajfert also built a villa within the complex, which is now the only surviving part of the former complex.

The brewery’s tavern was a prestigious place in the capital. In 1892 it hosted a reception and dinner in honor of Nikola Tesla’s arrival in Belgrade, organized by the city. During the Balkan Wars, Vajfert gave part of the premises over to a hospital where wounded Serbian soldiers were treated.

Greatest Achievements: Copper from Bor and the Founding of Modern Mining

Vajfert’s interest in mining began as a purely practical matter. In the late 1890s he needed coal for his breweries, so he opened a coal mine at Kostolac, not far from Belgrade. That step drew him into mineral exploration in general, and he began searching for ores across the country.

For this purpose he founded the Center for the Exploration of Ore Deposits of Eastern Serbia at Glogovica near Bor, equipped with the most modern technology and expert staff. He spent huge sums, and some of the explorations ended in failure. The smelter at Ripanj, built to process mercury from the mine on Avala, proved a failed investment because ore reserves were very small. The same happened with the “Sveta Ana” mine on Deli Jovan, the “Sveta Varvara” mine on the Pek River and the excavations at Miroč.

Because of these expenses, there was talk in Belgrade that he was close to bankruptcy, and a saying took hold, “crazy as Vajfert,” used for someone who embarks on risky or futile ventures. Vajfert, however, persevered.

His perseverance paid off in 1903, when he discovered a large copper deposit near Bor. The Bor mine was then opened in 1904 and soon grew into a French–Serbian joint-stock company with a capital of 5.5 million gold French francs. Vajfert held shares in it worth more than a million francs.

The mine grew quickly: in 1905 it employed 180 workers, and by 1907 about 1,150. According to figures from Serbian media, the profit earned in its first ten years exceeded 20 million dinars. The Bor mine is still one of the largest copper mines in Europe, and the gold produced there strengthens the reserves of the National Bank of Serbia.

Thanks to all this, Vajfert became one of the richest people in the country. There is no doubt that his work in mining laid the foundations on which Serbia developed that branch of its economy throughout the 20th century.

Governor of the National Bank

Vajfert was connected with the National Bank from its founding. According to the National Bank of Serbia, he was a member of the founding and first governing board of the bank in 1884, and in 1883 he is mentioned as vice-governor. He was first appointed governor in 1890 and remained in that post until 1902. He was preceded by Filip Hristić and succeeded by Tihomilj Marković.

He returned to the head of the bank in 1912. For the next fourteen years he was governor through the Balkan Wars, the First World War and the creation of a new state. The authorities were so pleased with his work that, with short interruptions, they elected him to that office from 1890 to 1926.

He is credited with strengthening the bank’s monetary and credit functions, preserving its reserves and its operational transformation into the National Bank of the Kingdom of Serbs, Croats and Slovenes. In 1926, Ljubomir Srećković became governor, and Vajfert was elected lifetime honorary governor.

The National Bank in the First World War

The hardest test came in 1914. When the First World War began, Vajfert, as governor, organized the transport of gold reserves and valuables, first to Kruševac and then to France, so that they would not fall into the hands of the Austro-Hungarian army.

From July 1914, the National Bank was constantly on the move. It traveled from Belgrade through Niš, Kruševac, Skopje and Thessaloniki to Marseille, where it operated until the end of the war. The country was occupied and the government and king were in exile, yet the dinar’s exchange rate remained stable in spite of everything.

From France, Vajfert sent aid to the Serbian army and people. He also looked after his workers: while staying in Marseille, he sent them money. Meanwhile, his brewery in Belgrade became a target of Austro-Hungarian howitzers, suffered heavy damage and did not operate until the end of the war.

After four and a half years of exile and many thousands of kilometers traveled, the National Bank returned to Belgrade in 1919, but to a new state.

Creating the Yugoslav Dinar

After 1918, Vajfert faced perhaps the hardest task of his banking career: unifying the currency of the new state and taking over the branch network of the former Austro-Hungarian Bank. The National Bank was the government’s agent in restoring the national currency and preventing stock-market speculation.

The best-known decision in that process was the replacement of the Austro-Hungarian krone with the new Yugoslav dinar. The old Serbian dinar was exchanged at a ratio of 1:1, while the krone was exchanged at 4:1. As a result, many residents of the former Austria-Hungary lost property, and the decision drew serious criticism.

On the other hand, the stability of the currency and confidence in the bank led many to see him as a national hero. He is still counted among the most famous governors of the National Bank of Serbia.

In 1923, industrialists from across the country solemnly celebrated Vajfert’s half-century of work and, at the same time, his golden wedding anniversary. According to newspapers of the time, the king himself was expected to attend the celebration.

Philanthropist and Collector

Vajfert’s life motto was: “One should give in order to earn again.” The more he earned, the more he gave, and the list of his charitable deeds is very long.

He donated his numismatic collection of 14,114 pieces of money to the University of Belgrade, combining in it the collections of his father and brother, along with his library. He gave his collection of gold, silver and bronze medals to the National Museum, and a large collection of sketches and old paintings of Belgrade to the Museum of the City of Belgrade.

He donated land for the building of the Belgrade Women’s Society and made a significant donation toward the building of the Serbian Royal Academy, today’s SASA. He put a large part of his wealth into cooperatives, homes for disabled people, women’s associations and schools.

As a Catholic, he left his mark among the faithful of his own religion as well. In Pančevo he built Anina crkva in memory of his mother, was one of the main benefactors in opening the large Catholic cemetery and established a fund for the Church of St. Anne. The cemetery’s portal was built in 1924 at his expense. He also built churches, both Catholic and Orthodox, across the country.

Vajfert and Freemasonry

According to Serbian media, Vajfert was a Freemason from 1890. In 1919 he was elected Grand Master of the Grand Lodge of Serbs, Croats and Slovenes, later the Grand Lodge of Yugoslavia.

In his honor, the “Đorđe Vajfert” Masonic lodge was founded in 1995, conceived as a lodge of businessmen who contribute to social activities.

Personal Life

Đorđe Vajfert was married to Marija Gisner, whom he wed in 1873. They had no children. During his lifetime he appointed his nephew Ferdinand Gramberg as his heir and chief executive of all his companies, and Gramberg took over the business empire after Vajfert’s death.

He lived in Belgrade, where he had a villa within the brewery complex. He was a great collector and a passionate numismatist, and the portrait painted by Uroš Predić in 1927 is today one of the best-known likenesses of Vajfert.

Death and Burial

Vajfert died on 12 January 1937 at his villa in Belgrade, at 5:20 p.m. The cause of death is not publicly known. He was 86 years old.

A funeral service was held at the Catholic Church of St. Anne in Pančevo on 14 January, and he was buried in the family tomb at the Catholic cemetery in Pančevo on 15 January. Some sources give 16 January for the burial, so sources differ.

Interesting Facts

• His portrait appears on the 1,000-dinar banknote, and on the reverse he is shown seated. The front also shows an outline of his brewery.
• The saying “crazy as Vajfert” arose in Belgrade at a time when his mining ventures looked like a pointless waste of money.
• Of all his decorations, he valued the Order of the Cross of Takovo most and wished to be buried with it.
• His brewery hosted the dinner in honor of Nikola Tesla on his arrival in Belgrade in 1892.
• In 2010, Serbia issued a 20-dinar coin marking 160 years since his birth.
• Vajfert’s beer won gold medals at the world exhibitions in Paris in 1889 and 1900.
• The brewery in Pančevo, which the family owned for about a hundred years, is today a protected cultural property.

Awards and Honors

Few businessmen of his time could boast such high decorations. Vajfert received the following honors:

• Order of Karađorđe’s Star, 2nd and 3rd class
• Grand Cordon of the Order of St. Sava
• Order of the White Eagle with Star
• Order of Miloš the Great
• Order of the Cross of Takovo
• Medal of the Society of St. Sava
• War commemorative medals
• Ribbon of the Romanian Star, which is usually awarded only to crowned heads
• Title of lifetime honorary governor of the National Bank (from 1926)

Legacy and Influence

Đorđe Vajfert remains one of the businessmen who shaped modern Serbian society. The mining he launched is still an important part of the economy of eastern Serbia, and the Bor mine has become a symbol of industrial development.

The National Bank of Serbia has honored him in several ways. His portrait appears on the 1,000-dinar banknote, a coin was issued for the 160th anniversary of his birth, and in 2010 the bank published an illustrated monograph, “Đorđe Vajfert – Visionary and Enthusiast,” by Saša Ilić, Sonja Jerković and Vladimir Bulajić.

The brewery in Pančevo is still a matter of concern for citizens, who gathered around the “Vajfert 301” initiative to protect the oldest brewery in Serbia. Vajfert’s villa in Belgrade survived the demolition of the former brewery complex.

Most important, however, is that he regarded wealth as an obligation. His example, that a businessman should give back to the community what he receives from it, remains a yardstick by which great business figures are still judged today.

Biography – Frequently Asked Questions

Who was Đorđe Vajfert?

Đorđe Vajfert was a Serbian industrialist of German descent, owner of the first Serbian steam brewery, founder of modern mining in Serbia and long-serving governor of the National Bank.

When and where was Đorđe Vajfert born?

He was born in Pančevo in 1850. The National Bank of Serbia and most sources give 15 July, while some sources mention 15 June, so the sources differ.

Why is Đorđe Vajfert on the 1,000-dinar banknote?

His portrait appears on the thousand-dinar note because of his enormous contribution to the founding and development of the National Bank, of which he was governor for almost three decades.

How long was Đorđe Vajfert governor of the National Bank?

He was governor from 1890 to 1902 and again from 1912 to 1926, and then lifetime honorary governor until his death in 1937.

What did Đorđe Vajfert do in Bor?

In 1903 he discovered a large copper deposit near Bor, and in 1904 he opened the Bor mine, which soon became one of the largest mines in Europe.

Did Đorđe Vajfert have children?

He had no descendants. After his death the business was inherited by his nephew Ferdinand Gramberg, whom he had appointed as his heir during his lifetime.

What did the saying “crazy as Vajfert” mean?

In Belgrade it was said of someone who embarks on very risky or futile ventures, because Vajfert’s mineral exploration long looked like throwing money away.

What did Đorđe Vajfert donate?

He donated his numismatic collection and library to the University of Belgrade, a collection of medals to the National Museum, and sketches and old paintings of Belgrade to the Museum of the City of Belgrade. He also helped fund the building of the SASA premises.

When and where did Đorđe Vajfert die?

He died on 12 January 1937 at his villa in Belgrade, and he was buried in the family tomb at the Catholic cemetery in Pančevo.

Conclusion

Đorđe Vajfert left a deep mark on Serbian business and society as a brewer, mining pioneer and governor of the National Bank. From a family brewery in Pančevo he rose to run one of the largest breweries in the Balkans, discovered copper at Bor and for many years protected the stability of the dinar, including in the hardest war years. He returned a large part of his fortune to the community through gifts to the university, museums, churches and charitable societies. That is why his name still holds a special place in Serbian history.