Michael Federmann & family’s profile picture

Michael Federmann & family

Michael Federmann & family’s profile picture
Net worth 2018: $1.4 Billion
Industry: Technology
Country: Israel
Children: 3
BIOGRAPHY

Michael Federmann & family was born in Israel. Owner of Israeli conglomerate Federmann Enterprises, started by late father and uncle. Chairs boards of its two biggest publicly traded holdings: defense elctronics maker Elbit Systems and luxury hotel operator Dan Hotels Corp. The hotel group has been enjoying growth thanks to booming tourism and business in the country. It began as a boarding house on the Tel Aviv seafront; now expanding into India. Also deputy chairman of the board of the Hebrew University in Jerusalem and a board member of Weizmann Institute of Science.

NET WORTH STATISTIC
2010

$1.4 Billion

2011

$1.4 Billion

2018

$1.4 Billion

TIMELINE
2014

As of January 2014, British Hermes 450 air vehicles have flown over 86,000 hours over Iraq and Afghanistan

2013

In September 2013, the Hermes 450 reached 70,000 flight hours supporting British troops in Afghanistan, the equivalent of 8 years of non-stop flying

2012

879 and in 2012 he dropped off the ranking of the top 1000

2010

He was ranked 7th wealthiest in the Maariv newspaper's top 100 in Israel in 2010 with an estimated wealth of 6

2005

Moreover, in addition to using Hermes 450, in 2005 the British MoD contracted Thales UK and Elbit to produce a modern British UAV called the Watchkeeper WK 450, to be based on Elbit's Hermes 450 and to replace the Hermes once operational

2002

Since 2002, Federmann has been the owner of Israeli conglomerate Federmann Enterprises Ltd which was started by his late father and uncle

1998

Federmann joined Elbit when his El-Op company merged with it in 1998

1947

Dan Hotels began as a boarding house on the Tel Aviv seafront that was purchased by his father and uncle in 1947

1943

Michael Ilan Yoel Federmann, known as Mikey, (born in 1943) is an Israeli businessman and self-made billionaire, in charge of Elbit Systems and the Dan Hotels group

1932

Part of the chain is the iconic King David Hotel in Jerusalem, which since its founding in 1932 until this day hosts heads of state and diplomats on behalf of the Israeli government on their visits to Israel

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