Israel's Richest Start off Jewish New Year a Little Wealthier
- Country’s richest woman to sell bank stake for $930 million
- Elbit backer benefiting from defense company’s new contracts
The Old City of Jerusalem during Rosh Hashanah on Sept. 22, 2017.
Photographer: Thomas Coex/AFP/Getty ImagesThis article is for subscribers only.
Some of Israel’s wealthiest are celebrating a little more than usual during the Jewish high holidays.
Shari Arison, the country’s richest woman, agreed to sell half of her investment arm to North American investors, including $930 million worth of shares of the country’s biggest bank. That was days after Rosh Hashana, the Jewish new year. On Wednesday, in the run-up to Yom Kippur, or Day of Atonement, Elbit Systems Ltd. announced two contracts worth $540 million. That has pushed the shares of Israel’s largest publicly-traded arms manufacturer to a new high, boosting the fortunes of its chairman and controlling shareholder, Mickey Federmann.