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June 26, 2016 / 20 Sivan, 5776
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Buffett Gets Full Ownership of Israeli Company for $2 Billion

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American billionaire Warren Buffett paid $2 billion for the remaining 20 percent of the Israeli firm Iscar.

Buffett had bought 80 percent of the Iscar Metalworking Company Group, in which Iscar is the main company, for $4 billion in 2006, according to Globes.

The company, the second largest maker of precision carbide cutting tools in the world, is located in the Tefen industrial park in northern Israel. It was founded by Israeli billionaire Stef Wertheimer. It employs 2,500 people in Israel and another 7,500 at its facilities around the world.

Wertheimer was fired from the Rafael corporation in 1958 because he didn’t graduate from high school.

Yori Yanover

About the Author: Yori Yanover has been a working journalist since age 17, before he enlisted and worked for Ba'Machane Nachal. Since then he has worked for Israel Shelanu, the US supplement of Yedioth, JCN18.com, USAJewish.com, Lubavitch News Service, Arutz 7 (as DJ on the high seas), and the Grand Street News. He has published Dancing and Crying, a colorful and intimate portrait of the last two years in the life of the late Lubavitch Rebbe, (in Hebrew), and two fun books in English: The Cabalist's Daughter: A Novel of Practical Messianic Redemption, and How Would God REALLY Vote.


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