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#152 Eyal Ofer $9.28B

Random fact: Father Sammy served in Royal Navy at the start of World War II.

Overview

Eyal Ofer's interests, which are mainly in shipping and real estate, are controlled through Monaco-based Ofer Global. He is chairman of Monaco-based shipping business, Zodiac Group, which has a fleet of more than 150 ships. He also has shares in Royal Caribbean Cruise Lines and Mizrahi Tefahot Bank.

As of July 26, 2017:
Last change +$19.8M (+0.2%)
YTD change +$682M (+7.9%)
Industry Services
Biggest asset Zodiac Group Monaco
Citizenship Israel
Age 67
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Eyal Ofer's net worth of $9.28B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
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Confidence rating:

The majority of Eyal Ofer's fortune originates from the shipping business his father founded in the late 1960s. At the time of his father's death in June 2011, assets were evenly divided between the billionaire and his younger brother, Idan. Ofer's wealth is concentrated in real estate and shipping.

Ofer owns Monaco-based Ofer Global, a group of international businesses focused on shipping, real estate, banking and investments. It has an international shipping enterprise whose vessels are operated by Zodiac Maritime and Zodiac Tankers, part of Zodiac Group. Zodiac has more than 150 vessels that are valued using data from ship valuation service VesselsValue.com, based on transactions and new build prices as of Oct. 28, 2016. It includes active ships as well as vessels under construction. Leverage has been calculated at 50 percent.

Ofer also controls Global Holdings, whose assets include office buildings, hotels and luxury residential developments properties in Manhattan, London and Amsterdam and a controlling stake in Miller Global Properties, a real estate investment fund. The valuations of the properties are based on income capitalization, less calculated debt. The valuation of Miller Global Properties is based on the average price-to-book multiple of three publicly traded peers.

He has a one-third stake in Israel-based Ofer Investments Real Estate, which is valued using information from a person familiar with the business who asked not to be identified because the information is private.

He also owns Singapore-based Omni Offshore Terminals, a provider of floating storage facilities for oil producers. Its valuation is based on a 2014 peer-analysis appraisal according to a person familiar with the report who declined to be identified because the business is private. The valuation was reduced by 50 percent in August 2016 to reflect the share-price decline of oilfield-services companies, according to Bloomberg Intelligence.

Biography

Birthdate: 6/2/1950
Family: Married, 4 children

Eyal Ofer was born June 2, 1950, in Haifa, Israel, the older of two sons born to Sammy and Aviva Ofer. His father, a Romanian immigrant, founded a shipping company with his brother in the 1950s, after serving in the Israeli Navy. By the 1970s, Sammy Ofer had branched out on his own in Europe and established a shipping company that grew over the years into an international business and became known as the Sammy Ofer Group Monaco.

Ofer joined the family business in the 1970s, after graduating from secondary school, Atlantic College in the U.K. Upon joining, he helped expand the business beyond shipping and into industries such as real estate and banking. In the early 1980s, he turned his focus to the U.S. market, especially Manhattan. One of his most successful investments to date was 15 Central Park West, a luxury condominium building which he developed with the late William and Arthur Zeckendorf in 2008. In March 2012, the building set a record for the most expensive single apartment sale ever recorded in New York, at $88 million. The record was broken two months later.

In June 2011, Sammy Ofer died at the age 89, leaving Eyal and his younger brother, Idan, at the helm of the Ofer family empire. According to the family's spokespeople, Sammy had spent years planning for the generational transfer to ensure an orderly transition. They said the assets were divided equitably between the two brothers, with Eyal Ofer inheriting the real-estate businesses as well as stakes in real-estate developer Melisron, Mizrahi Tefahot Bank and cruise-line operator Royal Caribbean.

Ofer, who is married and has four children who all work in various parts of the family's businesses, is based in Monte Carlo, Monaco. He also has homes in London and New York.

Milestones
  • 1922 Father Sammy Ofer is born in Romania.
  • 1950 Eyal Ofer is born in Haifa, Israel.
  • 1970 Zodiac Maritime established in London.
  • 1987 Global Holdings Inc. is established.
  • 1995 Joins the board of cruise operator Royal Caribbean.
  • 2005 Construction begins at 15 Central Park West.
  • 2007 Global Holdings Inc. buys Altria's former New York headquarters.
  • 2011 Sammy Ofer dies in Tel Aviv at the age of 89.
  • 2012 Unit at New York's 15 Central Park West sells for $88 million.
  • 2014 Baltic Exchange awards him honorary life membership.