web analytics
March 2, 2015 / 11 Adar , 5775
At a Glance
News & Views
Sponsored Post


Wealthy Argentine Chabadnik Set to Take over Israel’s Giant IDB

We don’t pretend to know how and why God works, but it can be speculated that the financial disaster of Israel’s giant IDB was the way for a Chabad Jew to enter Israel’s secular Big Business elite.
Black kippahed Eduardo Elztain is set to be part of a consortium that will control one of Israel's largest conglomerates.

Black kippahed Eduardo Elztain is set to be part of a consortium that will control one of Israel's largest conglomerates.

Eduardo Elsztain, Argentina’s richest man and a follower of Lubavitch-Chabad, along with Israeli entrepreneur Motti Ben-Moshe, is set to take control of 75 percent of Israel’s giant and debt-ridden IDB Holding conglomerate that has its fingers in supermarkets, paper, mobile phone, insurance and cement companies.

Credit holders have overwhelming voted for Elsztain and Ben Moshe to enter and take control from Nochi Dankner, who says he will put up a fight against the buy-out.

Israel’s Big Business elite, approximately seven companies that control more than half of the manufacturing in the country, is dominated by Israel’s richest families, almost all of them left-leaning and secular, a term that does not necessarily mean anti-religious and often includes men like Dankner who observe traditions and are respectful of Judaism.

The entry of a Haredi could be a sign of something spiritual happening, or it could not.

The facts are that Elztain’s representative in Israel has been Shlomo Lapidus, a Haredi businessman and also from one of the wealthiest families in Buenos Aires. A textile company founded by his father is translated into English as “With G-d’s Help.”

Elsztain is president of Chabad, has served as treasurer of the World Jewish Congress, founded Hillel in Argentina and is a big investor in the Taglit-Birthright program.

Big Bucks execs like to jet around the world and visit expensive hotels, but Elsztain does not let that keep him from visiting the graves of righteous Jews when he visits Israel.

This may not be a new trend, but it bears watching.

Wouldn’t it be interesting to see a chain of markets in Israel welcoming buyers with an image of the Rebbe?

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.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

3 Responses to “Wealthy Argentine Chabadnik Set to Take over Israel’s Giant IDB”

  1. Rina Gray says:

    Maybe now this conglomerat start to work without debt.

  2. I would absolutely love to see an chain of food stores that were run and stocked by Jewish person ,whom quality mattered.

Comments are closed.

Current Top Story
Prime Minister Netanyahu speaks to reporters with his wife at his side at Ben Gurion Airport Sunday morning.
Israeli PM Netanyahu Arrives in US to Speak at AIPAC, Congress on Iran
Latest News Stories
Prime Minister Netanyahu speaks to reporters with his wife at his side at Ben Gurion Airport Sunday morning.

Israel’s Prime Minister Netanyahu arrived Sunday in Washington DC ahead of appearances at the AIPAC conference and before the US Congress, to discuss the Iran nuclear threat.

IDF soldiers on routine patrol  near Hebron.

Israel’s military Central Command decides to spring a surprise 2-day “readiness” drill in Judea and Samaria.

Some 1,500 teens from around the world at the Chabad CTeen convention hear a personal greeting from UN Secretary-General Ban Ki-moon on March 1, 2015.

Some 1,500 Jewish teens heard UN Secy-Gen. Ban Ki-moon urge them to “make a difference” as they gathered in Crown Heights, Brooklyn at the Chabad CTeen Convention.

Hamas terrorists manage  to find their way to the Temple Mount in Jerusalem as well.

An Egyptian court has formally ruled that Gaza’s ruling Hamas faction is a banned terrorist organization.

Goldberg might as well have been quoting from Netanyahu’s talking points sheet.

The ads use of quotes from a 2001 Netanyahu speech, in which he supposedly described the U.S. as “a thing you can move very easily.” Watch the tape here.

This past summer’s war isn’t over for everyone.

“With the launch of this new historic agreement, we hope to make the lives of newlyweds better and more meaningful, so that if, God forbid, the marriage breaks up, it will be done in a fair and respectful manner.”

Bibi’s speech will be during the U.S. workday, but prime viewing time in Israel.

The report, ordered but never implemented by PM Netanyahu, determined that Israeli settlements are legal according to international law.

This isn’t the first assassination attempt against him.

Herzog, Livni and their media backers have thrown everything at Netanyahu. Voters are not impressed.

He said his mission is “fateful, maybe even historic.”

The report seems unbelievable, but the newspaper has an interesting track record.

Snow is uniting the American people, so to speak. An area in every one of the 50 states, including Hawaii, will see snow this week, according to the WeatherBell site. This week will be the first time since 2012 that even Florida will see snow. New York is expected to get another 3-4 inches today, […]

A link for the poll is provided below. Deadline is today.

More Articles from Tzvi Ben-Gedalyahu
Herzog and Livni at a campaign stop in Tel Aviv.

Herzog, Livni and their media backers have thrown everything at Netanyahu. Voters are not impressed.

Prime Minister Netanyahu speaks to reporters with his wife at his side at Ben Gurion Airport Sunday morning.

He said his mission is “fateful, maybe even historic.”

The report seems unbelievable, but the newspaper has an interesting track record.

A link for the poll is provided below. Deadline is today.

A proposed law would require the Senate to approve the deal. Obama threatens to veto it.

Democrats did not sponsor but also did not try to block the resolution.

Kerry called Abbas about “financial viability” of the Palestinian Authority and efforts “to prevent a crisis.”

Printed from: http://www.jewishpress.com/news/wealthy-argentine-chabadnik-set-to-take-over-israels-giant-idb/2013/12/09/

Scan this QR code to visit this page online: