Beny Steinmetz, Israeli Billionaire

By Abijah Keru

The fourth child of Rubin Steinmetz, Beny Steinmetz was born in Netanya, Israel in 1956. He inherited his father’s company Steinmetz Diamond Group based in Geneva Switzerland and is the founder of Beny Steinmetz Group Resources (BSGR), which is also based in Geneva. He currently plays an advisory role to the company’s Board of Directors.

In 2008, BSGR won an exploration permit in The Republic of Guinea, which was valid for three years. This permit was given to them after the Guinean government under President Lasana Conte ordered the Rio Tinto Group, a British- Australian mining company, which originally had the permit to relinquish it.

He currently stated his plans to sue the NGO Global Witness for claiming that he had wrongly obtained the rights to The West African property. The U.S Justice Department is also investigating BSGR's acquisition of the rights to extract half of the iron ore deposits at Simandou due to concerns about corruption and bribery. He sold 51% of the permit to Brazilian mining multinational Vale for $2.5 billion but he only pocketed $500 million from the deal.

BSGR wholly owns the Sierra Leonean diamond mining company Koidu Holdings S.A. This acquisition was done in 2007 and it had initially operated as a joint venture between Energem Resources Inc. and Magma Diamond Resources, which is also a BSG subsidiary. He founded STI Ventures NV in 1997. The company is a venture capital firm, which invests in Israeli startup companies

Steinmetz, through STI Ventures, acquired the Canadian internet and Telecommunications Company Tucows Inc. in 1999. Together with investment firm IMR, they acquired the firm Cunico, which is a United States based mining and metals company. He founded the now defunct Nikanor Plc, which was a holding company for Global Enterprises Corporate and was listed on The London Stock Exchange. Nikanor was acquired and subsequently merged with Katanga mining in 2008.

His real estate ventures are in the form of his company, Scorpio, which owns real estate in Kazakhstan, Russia and Eastern Europe. He is also an investor in the Canadian resource company Gabriel Resources ltd. As a philanthropist, together with his wife, Beny Steinmetz , oversee the Beny and Agnes Steinmetz Foundation which donates to schools, hospitals, army units and the arts. With a net worth of $4.1 Billion, he currently resides in Geneva with his wife and four children.

Press Like If You Learnt Something New : )

New! Comments

Have your say about what you just read! Leave me a comment in the box below.

Abijah is a journalism student who has a great passion for writing. She enjoys penning down her thoughts and sharing them with the world.

"If I have seen further than others, it is by standing upon the shoulders of giants." Isaac Newton

The material in this site is purely for educational purposes only. In creating this side we have sourced info from many sites and would like to give credit to where it is due.We do not intend to infringe any website's copyrighted material and we use the information for educational purposes and use information that are public in nature and hopefully protected by freedom of information laws. Also, when I created this website years ago, I took many pictures from the internet that may infringe your copyright. I will be slowly taking all these down and if the picture that belongs to you or your company is still there, please drop me an email and I will remove the pictures. If you found that any article in this website infringe your rights please let us know and we will take it down. Thanks.


Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)