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September 28, 2016 / 25 Elul, 5776

Posts Tagged ‘billionaire’

Rebbe’s Billionaire ‘Diamond’ Joe Gutnick Bankrupt

Wednesday, July 13th, 2016

“Diamond” Joe Gutnick, who used to be ranked among the wealthiest men in Australia, supposedly with the personal support and advice of the Lubavitcher Rebbe, has declared bankruptcy, with debts of more than $275 million. The bankruptcy was the result of a deal he struck with Indian Farmers Fertilizer Cooperative (IFFCO), which, as The Sydney Morning Herald put it, “turned sour.”

Gutnik’s current wealth, according to the Herald, comes to $16,087 in savings, as well as a portfolio of shareholdings that’s mostly Indian manure.

According to a statement signed by Gutnick, he owes IFFCO $54 million. Gutnick also owes Westpac $4 million, American Express, Visa and Diners Club $520,000, and the Australian Tax Office at least $42,613.

Gutnick’s wife, Stera Gutnick, as a creditor, is owed $30.7 million. The Edensor Consultants Trust is owned $61.4 million. The Hoydu Family Trust is owed $40 million. A company called Class Productions is owed $16 million.

Gutnick also says he owes $33 million to N Sternberg of New York, and $13.3 million to Machne Israel of New York. The Machne Israel Development Fund was established in 1984 by the Lubavitcher Rebbe, to serve as a major financial resource of the Chabad-Lubavitch institutional network. Formed by a core of prominent Jewish philanthropists dedicated to the growth of Jewish life and the greater vision of Jewish continuity, The Machne Israel Development Fund has disbursed critical sums toward the support of Chabad-Lubavitch centers.

Now they’ll do with less.

The Herald reported a worldwide search for Gutnick’s assets, with special focus on his offshore holdings in America, Europe and Singapore.

JNi.Media

Jewish Billionaire Mikhail Fridman Leaving Nothing to his Children

Monday, May 23rd, 2016

In an appearance at the Russian Frobes Club last week, Jewish Billionaire Mikhail Maratovich Fridman, 52, who is worth $14.2 billion according to Forbes, which ranks him second wealthiest Russian, said he plans to leave almost all his fortune to charity. Nothing to his children.

“I’m not a big fan of this kind of public announcements,” Fridman told the Forbes Club audience, “but I can say that I am going to leave all my money to charity. I don’t plan to leave any money to my children.”

Fridman is a major patron of Jewish initiatives in Russia and elsewhere in Europe. In 1996 he was one of the founders of the Russian Jewish Congress. He makes large contributions to the European Jewish Fund, a non-profit organization promoting tolerance and reconciliation.

Fridman, together with Stan Polovets and fellow Russian Jewish billionaires Alexander Knaster, Pyotr Aven, and German Khan, founded the Genesis Philanthropy Group, to develop and enhance Jewish identity among Jews worldwide. In 2014, at the first annual Genesis Prize event in Jerusalem, Fridman told the audience that the prize is intended to inspire the next generation of Jews with the example of the Laureates’ outstanding professional achievement, contributions to humanity and commitment to Jewish values.

The Ukraine born Fridman shares control of Alfa Group, the biggest financial and industrial investment group in Russia, with two college buddies and now billionaires German Khan and Alexei Kuzmichev. They have been partners since 1989, when they launched Alfa-Eco, then Alfa-Bank—today the biggest private bank in Russia. The three college buddies bought Tyumen Oil from the Russian state in the late 1990s, merged it with BP’s Russian assets to form TNK-BP, then sold their stakes in 2013. Alfa Group has stakes in telecommunication giant Vimpelcom; owns Russia’s second-biggest retailer, X5; bought German oil and gas company DEA for $5.7 billion in 2015; and invested $200 million in Uber in 2016. (Source: Forbes)

Fridman, who has four children, the youngest is 10 and the eldest 22, told his Russian audience he wants his children to follow in his footsteps and create something on their own. He also confessed that he is worried his elder daughter Laura, 22, be targeted by bad people, which is something to be considered when you’re a very wealthy Russian.

Fridman revealed that his two close friends and business partners have made the same decision regarding their own children.

JNi.Media

Is Billionaire Roman Abramovich Planning Aliyah?

Tuesday, April 14th, 2015

Published on Jewish Business News
by Ilan Shavit

Just as Ben Mezrich’s new book “Once Upon a Time in Russia: The Rise of the Oligarchs” is about to be published, with what are expected to be authentic descriptions of the battle between tycoons Boris Berezovsky and Roman Abramovich, with a Warner Bros. movie already in production, the colorful owner of Chelsea soccer club appears to be moving his business to Tel Aviv.

Globes reported Monday that the 58th richest man on the planet, with an estimated fortune of $12 billion, has picked up a major asset in Israel, the lot on which stands the Varsano boutique hotel in gentrified, picturesque south Tel Aviv.

Abramowich paid roughly $25 million for the lot, which was owned by the Guy and Yaron Versano (married to Israeli Hollywood actress Gal Gadot—a.k.a. Wonder Woman), in the old neighborhood of Neve Tzedek, near the border of Jaffa.

The lot is less than half an acre in all, and includes the hotel, which is slated for preservation, as well as a parking lot, zoned for housing.

Now, Abramovich lives with his family in London, but he has been expressing an interest for a few years now, according to Globes, in buying property in Neve Tzedek.

Late last March, the media reported that Abramovich had arrived in Israel on his private jet and stayed at the boutique hotel Norman in Tel Aviv, where he engaged in several secret business meetings. Now it turns out that he was closing on the Varsano transaction. There was a report back then that he was spotted touring the old neighborhood.

Abramovich owns several luxury properties in London and the U.S., and now he owns a nice piece of Israel. He visits Israel with his family on the holidays. So the expectations are that he will convert the Versano into a residential facility and use the zoning rights to add residential space to use during his stay in Israel.

Last year, Abramowich and his family celebrated the Passover seder at the Genesis hotel down in Mitzpe Ramon.

He rented the entire hotel, naturally.

Abramowich has invested in many Israeli technology companies, like the transportation collaboration start-up Via, investment fund iAngels, the Storedot company developing rapid charging of smartphones, and AcousticEye, which tests tubes using sound waves.

Abramowitz owns a private Boeing 767-300, and in 2007 he added an Airbus A380 for $300 million. In 2010 he also added a yacht—Eclipse—for $ 1.2 billion, the second biggest yachts in all of God’s wide seas.

So, is Roman Abramowich doing Aliyah? We have no idea, but he might as well—he owns a chunk of the place already.

This article was written by ILan Shavit.

JBN / Jewish Business News

Hamas Officials Get Rich in Gaza

Sunday, July 13th, 2014

The Gaza Strip may be renowned as one of the poorest strips of land on earth – the Strip’s per capita GDP of $3100 per annum puts Gaza in 171st place out of 226 countries, and unemployment hangs steadily around 40 percent – but the economic crunch hasn’t hit everybody in the region.

According to a report released Sunday on the Calcalist website, the Hamas government takes a standard 20 percent “tax” on goods that enter Gaza via the smuggling tunnels. Unfortunately, the government cut of the imports have failed to reach most Gazans, but a certain proportion of Gaza residents have capitalized on the opportunities over the past decade to have become multi-millionaires: The senior Hamas leadership.

According to the Calcalist, the big winner out of Hamas’ eight-year rule of Gaza is none other than Prime Minister Ismail Haniyeh, a native opt the Sha’athi refugee camp and former right-hand man to Hamas founder Sheikh Ahmed Yassin.

But in contrast to most refugee families, in 2010 Haniyeh reportedly purchased a 2,500 square meter plot of land in Gaza City for $4 million. Calcalist reported that in order not to draw attention to the purchase, he registered the land in the name of his daughter, Nabil. Since then, he has continued purchasing real estate, under the names of his 13 children.

The paper also reported that there is no shortage of million-dollar villas for sale in Gaza, and no shortage of people to buy them, mostly Hamas officials. In the words of one Gaza real estate analyst, “two years ago, he (an individual with close ties to Hamas who forked up the money for a luxury villa) didn’t have enough money for a pack of cigarettes.”

Another popular “arrangement” was partnership between Hamas and Moslem Brotherhood in Egypt. Khiret a-Shater, an Egyptian businessman and senior Brotherhood official, was known to transfer millions of dollars in cash to the Hamas government, and to senior Izzadin el-Qasm officers. But some of the Hamas members preferred safer grounds for their “investments,” and so teamed with a-shater to purchase property in Egypt.

According to Dr Ahmed Karima, a senior lecturer at al-Azhar University in Cairo, Hamas has transformed from a resistance movement to a political party representing no less than 1,200 millionaires.

Other Hamas officials who have become rich since the group staged a violent coup in Gaza in 2006 include Politburo Chief Khaled Mashal, who enjoys a bank stash of $2.6 billion, much of which is stored in Qatari and Egyptian banks.

Meir Halevi Siegel

Philanthropist Billionaire Edgar Bronfman Dead at 84

Sunday, December 22nd, 2013

Edgar Bronfman, the billionaire former beverage magnate and leading Jewish philanthropist, passed away Saturday. He was 84.

As the longtime president of the World Jewish Congress, Bronfman fought for Jewish rights worldwide and led the successful fight to secure more than a billion dollars in restitution from Swiss banks for Holocaust victims and their heirs. As a philanthropist, Bronfman took the lead in creating and funding many efforts to strengthen Jewish identity among young people.

According to a statement, he died peacefully in his home in New York, surrounded by family.

Bronfman spent the 1950s and 1960s working with his father, Samuel, at Seagram Ltd., the family’s beverage business. He became chairman of the company in 1971, the year of his father’s death.

Just a year earlier, in 1970, Bronfman took part in a delegation to Russia, to lobby the Kremlin for greater right for Jews in the Soviet Union. He would later credit the trip for inspiring his increasing interest in Judaism, saying: “It was on those trips to Russia that my curiosity was piqued. What is it about Judaism, I asked myself, that has kept it alive through so much adversity while so many other traditions have disappeared? Curiosity soon turned into something more, and that ‘something more’ has since turned into a lifelong passion.”

In 1981, Bronfman became the president of the World Jewish Congress, stepping up the organization’s activism on behalf of Jewish communities around the world. From his perch at the WJC, in addition to battling with the Swiss banks, he continued the fight for Soviet Jewry, took the lead in exposing the Nazi past of Kurt Waldheim, and worked to improve Jewish relations with the Vatican.

JTA

Police Raid Israeli Diamond Billionaire’s Geneva home

Thursday, September 12th, 2013

Swiss police staged a mysterious raid on the Geneva home Israeli diamond billionaire Benny Steinmetz, according to an anonymous source close to the incident and who was quoted by Bloomberg News.

Geneva’s public prosecutor reportedly ordered the raid on the basis of a request by the Guinea government, but no one is making any comments or explaining why the raid took place.

Police did not confiscate nay documents.

Steinmetz’s BSG Resources mining company owns 51% of the Simandou iron ore deposit in Guinea, which is reviewing mining license. A U.S. grand jury in April began investigating allegations that Steinmetz’s BSG company paid bribes for mining rights in Guinea.

Jewish Press News Briefs

Printed from: http://www.jewishpress.com/news/breaking-news/police-raid-israeli-diamond-billionaires-geneva-home/2013/09/12/

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