Category Archives: Business & Finance

Jews in the World of Business and Finance

Jews of the Week: Marcel and Sylvan Adams

Canadian-Israeli Mega Donors

Marcel Adams and Sylvan Adams

Meir Marcel Abramovici (1920-2020) was born to a traditional Jewish family in Romania and became a leather tanner like his father. After three years in Nazi labour camps, he escaped to Turkey, and then to Israel, where he fought in the War of Independence. A few years later, he moved to Canada and got a job working at a Quebec tannery, where his boss told him to change his last name to “Adams”. Once he saved a little bit of money he began investing in real estate. In 1958, Adams became a full-time real estate investor and founded Iberville Developments. Today, the company has over 100 shopping centres, residential buildings, and industrial properties across Canada and the US. Before he passed away, Adams was the world’s second-oldest billionaire, and a noted philanthropist. He established Tel Aviv University’s Adams Institute for Business Management Information Systems and the Adams Super Center for Brain Research.

His son Sylvan Adams (b. 1958) took over Iberville Developments in 1990, and served as its CEO for the next 25 years, until making aliyah and settling in Tel Aviv. Meanwhile, he took up professional cycling and in 2017 won the World Masters Championship in England. The following year, he opened the first indoor velodrome in Israel (and the entire Middle East). He gave 80 million shekels to bring the 2018 Giro d’Italia, one of cycling’s prestigious Grand Tours, to Israel, marking the first time that the tournament was held outside Europe. Adams has signed the Giving Pledge and is a huge philanthropist. He donated 100 million shekels to Tel Aviv’s Ichilov Medical Center in 2019, and financed a new children’s hospital at Wolfson Medical Center in Holon. Earlier this week, he announced $100 million to Ben-Gurion University in the Negev to “rebuild and strengthen” the south of Israel following the October 7 massacre. His foundation provides doctoral scholarships at the Israel Academy of Sciences and Humanities, and funds the Nefesh b’Nefesh “Bonei Zion Prize” for immigrants to Israel who make a profound impact on the country. He also donated $5 million to SpaceIL to develop Israel’s nascent space program and put an Israeli spacecraft on the moon. Adams is still cycling, and earlier this year won the UCI Cycling World Championships in his age category.

Chanukah Begins Tonight – Chag Sameach!

Chanukah & the Light of Creation

Words of the Week

We must support the gentile poor along with the Jewish poor, and visit the gentile sick along with the Jewish sick, and bury the gentile poor along with the Jewish poor, for the sake of peace.
– Talmud, Gittin 61a

Jew of the Week: Mikhael Mirilashvili

Pediatrician, Oligarch, Philanthropist

Mikhael Mirilashvili with a glass of air-generated water from one of his Watergen machines

Mikhael Mirilashvili (b. 1960) was born to a Jewish family in Kulashi, Georgia. He moved to St. Petersburg at 17 to study mathematics, then switched to medicine and became a pediatrician. As many new opportunities opened up with the collapse of the Soviet Union, Mirilashvili went into business. He started with real estate, then expanded to retail stores, banking, television, oil and gas, and casinos. He owned six casinos in St. Petersburg alone, and his Viking bank is among the city’s most popular. Mirilashvili was a cofounder of Russian social media app Vkontakte, which he sold in 2013 for $1.12 billion. In 2000, his father was kidnapped by a group of criminals posing as police officers. Two weeks after his father’s release, the kidnappers were all found dead. Mirilashvili was arrested for ordering the hit on his father’s captors, and spent eight years in prison. Upon his release in 2009, he moved to Israel and has since invested a great deal in the country, including in Israel’s new offshore gas fields. He is a generous philanthropist, donating millions to ZAKA (of which he was chairman), Keren haYesod, Yad Vashem, the IDF, the World Jewish Congress, the Russian Jewish Congress (of which he is the vice-president), the Torah and Chessed Center for Georgian Jews, as well as Migdal Ohr, an organization started by beloved rabbi Yitzchak Dovid Grossman (known as “the disco rabbi”) to help struggling Israeli youths. Mirilashvili’s funding has allowed Migdal Ohr to support, educate, and care for over 17,000 impoverished and disadvantaged Israeli kids and teens. Mirilashvili also co-founded and owns Watergen, an Israeli start-up that transforms air into clean drinking water, extracted and filtered from humidity. Watergen machines are now found in over one hundred water-starved regions of the world. In previous years, Mirilashvili donated seven such machines to the Gaza Strip, each providing over 2000 litres a day of clean water, powered by solar cells. The machines are still operating in the Gaza Strip amidst the war, providing essential water to Palestinians. Watergen machines are also operating in Ukraine, though Mirilashvili has been falsely accused by the Ukrainians of supporting the Russian invasion. He has dispelled these myths, and reminds people that he was imprisoned for years in a Russian jail, survived several Russian assassination attempts, and has sold off nearly all of his Russian-based businesses. Meanwhile, Mirilashvili established the Israeli-Emirati Water Research Institute in Abu Dhabi (together with Tel Aviv University), and the Moshe Mirilashvili Center for Food Security at Ben-Gurion University in honour of his father. Over the years, he has donated millions more to synagogues, hospitals, and Jewish schools, for medical equipment, Torah scrolls, and ambulances, as well as a special fleet of firetrucks to combat forest fires in Israel.

“Jewish Awakening” Causes Global Shortage of Tefillin and Mezuzahs

Three Approaches to the Arab-Israeli Conflict from This Week’s Torah Parasha

Support the #KidnappedFromIsrael Campaign

Words of the Week

The Arab refugee problem was caused by a war of aggression, launched by the Arab States against Israel in 1947 and 1948. Let there be no mistake: If there had been no war against Israel, with its consequent harvest of bloodshed, misery, panic and flight, there would be no problem of Arab refugees today.
– Abba Eban

Jew of the Week: Rami Levy

Israeli Supermarket King and Palestinian Hero

Rami Levy (b. 1955) was born in Jerusalem to an impoverished Iraqi-Jewish family. After completing his military service, he took over his grandfather’s failing grocery stall at the local market. He decided to slash his prices and sell without profit for the first three months to attract customers. After that, he continued operating at wholesale prices, becoming Israel’s first official discount store. A few years later, he was able to open a bigger, second location, and in 1992 his first supermarket, Rami Levy Shivuk HaShikma, named after himself and the street where his first shop was located. He has since expanded to 44 locations across Israel. He also operates 4 locations in Judea and Samaria (the “West Bank”) that, despite being boycotted by the Palestinian Authority, employ Palestinian workers at double the wages of other supermarkets in the area, and are hugely popular among Palestinian shoppers who appreciate the low prices. More recently, he opened a shopping mall on the outskirts of Jerusalem, where a third of the stores are Palestinian-owned. Rami Levy has supported Jewish settlements in the area and does not see them as a barrier to peace, because he strongly believes Jews and Arabs can coexist no matter where they live, and peace can be achieved through Palestinian economic development. He has been described as “the Israeli supermarket king that became a Palestinian hero”. Today, Rami Levy supermarkets are famous for their clever marketing and epic pre-holiday sales (for example, chickens, apples, and honey for less than a shekel per kilo before one Rosh Hashanah). The company went public in 2007, and has since expanded into clothing, real estate, and cellular communications, becoming Israel’s fourth mobile network. They are even trying to develop a home-delivery system using drones. Rami Levy Shivuk HaShikma is now the third largest supermarket chain in the country.

Recognizing and Fighting Fake News About Israel

Words of the Week

The state and progress of the Jews, from their earliest history to the present time, has been so entirely out of the ordinary course of human affairs, is it not then a fair conclusion, that the cause also is an extraordinary one—in other words, that it is the effect of some great providential plan?
– Alexander Hamilton