Shlomo Eliahu’s profile picture

Shlomo Eliahu

Shlomo Eliahu’s profile picture
Net worth 2018: $1.04 Billion
Residence: Tel Aviv, Israel
Country: Israel
Children: 4
BIOGRAPHY

Shlomo Eliahu was born in Tel Aviv, Israel, Israel. Shlomo Eliahu is #1943 in List Billionaires People In The World. Shlomo Eliahu is an Israeli insurance magnate. He grew up poor, immigrating to Israel from Iraq with his family in 1950, where he went from living in a transit camp to founding an underwriting agency. His Eliahu Insurance Company was the country's first insurance company, and the backbone of his fortune. Until recently he also had sizable stakes in two Israeli banks, but after purchasing nearly 70% of insurance company Migdal in 2012, regulators required him to begin liquidate these holdings. He sold off the remainder of his shares Bank Leumi in 2014 and has until October 2015 to unload his Union Bank of Israel position. Politically active, Eliahu served as a member of Israel's parliament from 1978-81 and was chairman of the finance committee.

NET WORTH STATISTIC
2011

$1.1 Billion

2014

$1.4 Billion

2015

$1.1 Billion

2018

$1.04 Billion

TIMELINE
Shlomo Eliahu (Hebrew: שלמה אליהו‎, born 18 January 1936) is an Israeli businessman, billionaire, and former politician who served as a member of the Knesset between 1978 and 1981.Born in Baghdad in 1936, Eliahu made aliyah to Israel in 1950 with his parents and eight siblings. After initially being based in a ma'abara at Beit Lid, his family moved to Kiryat Shalom.Shortly after immigrating he started working for Migdal. After being sacked in 1953, he began working for Binyan as an insurance agent. He was exempted from national service in the IDF as he had suffered from polio, and in 1955 started an independent insurance company in the Shapira neighbourhood of Tel Aviv. In 1966 he established the Eliyahu insurance company, which initially dealt only with car insurance, before expanding to other forms of insurance.In 1977 he joined the new Democratic Movement for Change (Dash) party, and won a place on its Knesset list. Although he failed to win a seat in the 1977 elections, he entered the Knesset on 15 February 1978 as a replacement for Meir Zorea. When the party split later in 1978, he joined the Democratic Movement.On 8 July 1980 Eliahu and Shafik Assad left the Democratic Movement to establish Ahva. Although they were later joined by Akiva Nof, both Nof and Assad left the party by the end of the Knesset session, leaving Eliahu as its only member. The party did not run in the 1981 elections, and Eliyahu lost his seat.Today Eliahu owns a large stake in Bank Leumi and 23% of the Union Bank of Israel. According to Forbes, in 2011 he was ranked as Israel's 12th richest person with a net worth of $1.1 billion (USD).He is divorced with four children.
(4.1/192 votes)
Related Person
Chatri Sophonpanich & family’s profile picture
Chatri Sophonpanich & family
Net Worth is $1.52 Billion
Ezra Nahmad’s profile picture
Ezra Nahmad
Net Worth is $1.5 Billion
Seth Klarman’s profile picture
Seth Klarman
Net Worth is $1.5 Billion
Lin Ming-Cheng & family’s profile picture
Lin Ming-Cheng & family
Net Worth is $1.5 Billion
Jorge Horacio Brito’s profile picture
Jorge Horacio Brito
Net Worth is $1.5 Billion
Cho Jung-Ho’s profile picture
Cho Jung-Ho
Net Worth is $1.48 Billion