Businessman Arnon Milchan, 73, who recently made headlines because of the gifts he gave Prime Minister Benjamin Netanyahu, recently bought a lot in Moshav Beit Yanai for NIS 13 million, sources inform "Globes." The 4.8-dunam (1.2-acre) lot is located on Harduf Street, very close to the house owned by Milchan on a bluff on Mitzpe Yam Street. Built by Milchan in 2000, the house has a stunning view of the sea. After the previous owner of the lot died, Milchan bought from his heirs.
The purchase enables Milchan to build an access road to his house, and to make sure that no one else will build near his house. During singer Mariah Carey's visit to Israel 18 months ago, Milchan hosted her and her family at his house.
Located between Netanya and Hadera, Beit Yanai is in the jurisdiction of the Emek Hefer Regional Council. There are 28 lots on the edge of the nearly 1 kilometer-long bluff, on which wealthy businessmen like Milchan, Ofer Group's Udi Angel, and businessman Morris Kahn have luxury houses.
Concern exists that erosion of the bluff could jeopardize the stability of the houses built on it.
Cigars and champagne
It was reported at the beginning of the month that Netanyahu was suspected of accepting cigars and champagne worth hundreds of thousands of shekels as gifts from Milchan, and that Netanyahu's wife, Sara, had received jewelry worth $8,600 from Milchan.
In 2016, "Forbes" Magazine estimated Milchan's wealth at $5.6 billion. He owns properties in Israel and around the world, including in France, New York, Los Angeles, Monaco, Tel Aviv, and Herzliya Pituah. Born in Rehovot, Milchan currently owns 9.8% of Channel 10's shares.
Milchan inherited the Milchan Brother company, founded in 1950, from his father, and made it a successful firm dealing in chemicals and pest control for agriculture. The company was sold to businessman Yossi Maiman in June 2009 for an estimated $10 million.
In the 1970s, Milchan produced Israeli movies, among them Dizengoff 99. He later entered the movie industry in Hollywood, and founded a production company in the 1990s, which he owns to this day. One of the movies he produced was Pretty Woman.
Published by Globes [online], Israel Business News - www.globes-online.com - on January 24, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017