Stef Wertheimer Israeli Billionaire
A German-born Israeli citizen, 87-year-old Stef Wertheimer is one of Israel’s many billionaires. Fleeing Nazism with his family as a child, they settled in Tel Aviv and started school but later dropped out. He joined the British Air Force during World War 2 and after the war got employment but his lack of proper formal education led to his dismissal.
He founded his first company ISCAR in his backyard, which was a small metal tool-cutting factory. The success of this company led to investment by Discount Investments who became minority investors in ISCAR. Today, his company has become one of the world’s largest manufacturers of industrial cutting tools in terms of sales.
He is the founder of four industrial parks in Israel, which aim to stimulate economic growth and employment as well as bring about stability in the volatile region. Wertheimer is also a former politician managing to win a seat in the 1977 elections and has won a number of recognitions including The Israel Prize in 1991. Berkshire Hathaway, a company owned by American billionaire Warren Buffet bought over 80% of ISCAR boosting Wertheimer’s wealth. He is currently worth $4.4 billion.
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