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July 22, 2014 / 24 Tammuz, 5774
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Haredi Tycoons Raising $100 Million to Replace Lapid’s Budget Cuts

Lapid is beginning to smell like a rose thanks to Haredi tycoons. He is taking yeshivas off the government dole and balancing the budget. How will yeshivas survive? The tycoons have an answer - money.
Ultra Orthodox Jewish youths studying religious texts at a Yeshiva in Jerusalem

Ultra Orthodox Jewish youths studying religious texts at a Yeshiva in Jerusalem
Photo Credit: Flash 90

Haredi tycoons are organizing to fill a $100 million gap for yeshivas following Finance Minister Yair Lapid’s elimination of the same amount of money that yeshivas have been receiving from taxpayers.

The Mishpacha magazine called the tycoon’s fund-raising campaign “a Lapid bypass plan “to help the world of the Torah get through the years of distress with a minimum of harm.”

If it works, everyone wins: The budget will come closer to being in the black, pardon the expression; the vast majority of Israelis will be relieved of blatant government purchases of Haredi votes in return for funding for yeshivas; the Haredi community will be more self-dependent; Torah study can continue; and perhaps the Hardy tycoons that men registered at yeshiva actually learn and do not simply pocket money to sit at home.

Wealthy Haredi businessmen are setting up a special $100 million fund in the next several weeks, according to Mishpacha.

Many of the rich Haredim already have committed large sums of money to replenish the bank accounts of yeshivas and to guarantee income to Torah students.

Another objective is to help encourage employment that is consistent to the Haredi lifestyle, similar to the Agudah communities in the United States.

There is also an initiative to foster employment and training of Haredi women in jobs consistent with the Haredi way of life.

However, the Haredi community has not given up on hopes of going back to the days of government handouts.

It hopes that after the fund runs for approximately 18 months, “the government will be replaced by a government more congenial to the Haredi public,” according to the magazine.

About the Author: Tzvi Ben Gedalyahu is a graduate in journalism and economics from The George Washington University. He has worked as a cub reporter in rural Virginia and as senior copy editor for major Canadian metropolitan dailies. Tzvi wrote for Arutz Sheva for several years before joining the Jewish Press.


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2 Responses to “Haredi Tycoons Raising $100 Million to Replace Lapid’s Budget Cuts”

  1. Anonymous says:

    Why do we have tuition crisis?

  2. Anonymous says:

    MIRACULOUS how revenues appear the minute the umbilical cord is cut. If the Haredi community has Tycoons , WHY should the Israeli tax payer have to support their lifestyle.

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