Stef Wertheimer is an Israeli-born billionaire, with an estimated net worth of $4.4 billion. He made most of his wealth from a factory that specialized in cutting small metal known as ISCAR which he started in his home backyard in 1952. The company became a success and easily attracted major investors such as Discount Investors who ultimately became its marginal share holder.
The year 2006 was the year when Wertheimer’s company drew international attention for the first time. This is when it became the first major international target of Warren Buffet’s Berkshire Hathaway. This happened when Wertheimer sold 80% of ISCAR to Buffett leaving for himself a stake of only 20%.
The company is currently run by his son Eitan. By sales, ISCAR is one of the biggest producers of Carbide industrial cutting tools used worldwide. They are also known for making world-renowned cars like Ford and General Motors.
With a significant number of branches in at least 50 countries worldwide, the company has employed nearly 6,000 people. In 2012, however, the company got hit by the economic condition but survived all through. Wertheimer is a philanthropist like many other billionaires, donating more than $100 million to causes that promote lasting peace between Palestine and Israel territories.