Wertheimer no longer the wealthiest Israeli
The highest ranking Israeli on Forbes' list is now nearly a $7 billion man.
Wertheimer took the number one ranking as the wealthiest Israeli last year from Shari Arison, the controlling shareholder in Bank Hapoalim (TASE: POLI; LSE:80OA), Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN), Carnival Cruise Lines (NYSE; LSE: CCL), and other companies.
Israel Chemicals doubled its market cap in 2007 to $18.7 billion. Zim is planning to raise $500 million at a company value of $1.2-1.5 billion, after money. Israel Corp. has a market cap of $8.6 billion; Ofer Brothers owns just over half the company. Ofer acquired the company from Irwin Eisenberg nine years ago in what has proved to be a very sagacious move.
Even at the age of 85, Sammy Ofer takes an active role in his companies, down to the nitty-gritty. He started out in the shipping business as a shipping agent in Haifa. He says, "I have achieved everything with my own two hands."
"Forbes" estimates Steff Wertheimer's fortune at $4.6 billion in 2008, $200 million more than in 2007. He is ranked 222nd on the 2008 list. He made the list after selling 80% of Iscar Ltd. to Warren Buffet's Berkshire Hathaway Inc. (NYSE: BRK.A) for $4 billion.
The third Israeli on the "Forbes" list for 2008, and 227th worldwide, is Lev Leviev, the chairman of Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY), with a fortune estimated at $4.5 billion, $400 million more than a year earlier.
Shari Arison is the fourth Israeli on the list, with an estimated fortune of $4.1 billion. She is followed by Benny Steinmetz, with $3.6 billion.
The "Forbes" 2008 billionaires list includes nine Israelis altogether.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
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