Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Lev Leviev

King of Diamonds

Lev Leviev

Lev Avnerovich Leviev (b. 1956) was born in Tashkent, Uzbekistan (then part of the USSR) to an observant Bukharian-Jewish family, the son of a mohel. In 1971, the family moved to Israel, where Leviev dropped out of school and apprenticed at a diamond-polishing factory instead. After serving in the IDF, he started his own successful diamond business. When the USSR collapsed, Leviev took advantage of the opportunity to expand his enterprise into the former Soviet Union. With the blessing of the Lubavitcher Rebbe, his business flourished tremendously, and Leviev soon expanded his reach into other ventures, including real estate, construction, and the chemical industry. Today, his net worth is estimated at $1.2 billion, with diamond mines in Angola, Namibia, Alaska, and Russia. Now the world’s largest diamond cutter and diamond polisher, he has been nicknamed the “King of Diamonds”. Meanwhile, Leviev has joined the ranks of the top Jewish philanthropists in the world, with estimates of donating over $50 million every year. As one of the main financial supporters of Chabad, he has sponsored over 300 rabbis and 10,000 other Chabad staff around the world. A staunch supporter of Israel, Leviev’s philanthropic (and business) activities also include funding Israeli settlements, along with other Israeli institutions. He is also the president of the Federation of Jewish Communities of the CIS (former Soviet Union), and the president of the World Congress of Bukharian Jews. Leviev’s main charitable organization, the Ohr Avner Foundation (named after his father), funds countless Jewish schools, synagogues, educational institutions, kindergartens, and youth programs in over 500 communities around the world. Incredibly, Leviev also carried on the old family tradition of being mohels, and has performed over one thousand circumcisions himself! He remains fully observant; his businesses closed on Shabbat. Leviev has nine children, and currently resides in London, England.

Words of the Week

For me, Israel, Jerusalem, and Haifa are all the same. So are the Golan Heights. As far as I’m concerned, all of Eretz Israel is holy. To decide the future of Jerusalem? It belongs to the Jewish people. What is there to decide? Jerusalem is not a topic for discussion.
– Lev Leviev

Jews of the Week: Moses Levy and David Levy Yulee

The Abolition of Slavery and the First Jewish Senator

David Levy Yulee

Moshe Eliyahu Levy Yulee (1782-1854) was born in Morocco to a wealthy Sephardic Jewish family. His father was a prominent figure in the Ottoman Empire, and an adviser to the Sultan. Moshe went off on his own across the Atlantic, settling in the US Virgin Islands, and dropping the family name of “Yulee”, now going by Moses Elias Levy. He made his own fortune in the lumber and merchant trades, then moved the whole family to Florida. There, he purchased 100,000 acres of land and established it as a refuge for persecuted European Jews. He also planned for a 50,000 acre “New Jerusalem” in Florida. Levy has been described as a “proto-Zionist”, as he sought to re-establish a Jewish homeland in Israel long before the official Zionist movement began. Though he originally owned slaves, Levy soon joined the anti-slavery movement, and in 1828 published the popular treatise A Plan For the Abolition of Slavery. Levy’s work was instrumental in abolishing slavery in both the United States and across the British Empire. In 1835, Levy’s fortunes soured with the outbreak of the Second Seminole War, which devastated his land in Florida, destroyed the refuge, and strained his finances. In poor health, Levy retired to St. Augustine, Florida, where he slowly rebuilt his wealth.

His son, David Levy Yulee (1810-1886) was elected to the House of Representatives in 1841. When Florida became a state in 1845, he became the first Jew in the US Senate. The following year, he married into a prominent Kentucky family, and to do so, had to convert to Christianity. Though he only did this in name at the request of his wife, the move drove a wedge between David and his father, and the two became permanently estranged. After failing to win re-election in 1850, David turned to business, first opening a sugar plantation, and then spearheading the construction of railroads across Florida. Yulee returned to the Senate in 1855, after his father’s death. When the Civil War began, he joined the Confederates, for which he was imprisoned following the war. After being released, Yulee continued his railroad ventures, and went on to be nicknamed the “Father of Florida Railroads”. The town of Yulee and Yulee County in Florida are named after him, and he was selected as one of the “Greatest Floridians” in 2000.

Words of the Week

You are not as great as you think, and the world is not as bad as it seems.
– Rabbi Wolf of Strikov

Jews of the Week: Ted & Shari Arison

Ted Arison

Theodore Arisohn (1924-1999) was born in Tel-Aviv, a third-generation Israeli of Jewish-Romanian heritage. During World War II, Arisohn fought with the Jewish Brigade of the British Army, and then as an IDF Lieutenant Colonel during Israel’s War of Independence. In 1952, Arisohn moved to the US (becoming “Arison”) in the hopes of better financial opportunities. In 1966, now living in Miami, Arison teamed up with Knut Kloster to create Norwegian Cruise Lines. The company started with one small cruise ship offering cheap Caribbean tours, and grew very quickly. By 1972, Arison left Norwegian and started a new company: Carnival Cruise Lines. It was here that Arison made his fortune, and transformed the company into a multi-billion dollar enterprise. The Carnival Corporation now owns 9 other cruise lines, including Costa, Holland America, and Princess Cruises. Arison was a noted philanthropist, too, creating the National Foundation for Advancement in the Arts, as well as his own Arison Foundation. In 1988, Arison brought professional basketball to Florida by forming the Miami Heat NBA team. His final big move came in 1996, when he led a group that purchased Israel’s largest bank – Bank Hapoalim – for a record sum of over $1 billion.

Shari Arison

Today, Bank Hapoalim is led by Ted’s daughter, Shari Arison (b. 1957). Born in New York, Shari spent half of her youth in Israel and the other half in the US, before returning to serve in the IDF. She further expanded her father’s businesses after his death, and is now the richest woman in the Middle East (and the only woman listed among the Middle East’s Top 20 richest people). Shari heads The Ted Arison Family Foundation, with its many philanthropic branches. One of these is dedicated to helping people find “inner peace”, while another is for promoting global unity, and a third for inspiring volunteerism in youth and creating International Good Deeds Day. Shari published her first book in 2009 and it became an Israeli bestseller. Her second, Activate Your Goodness: Transforming the World through Doing Good, was a New York Times bestseller, too. She has been selected “Woman of the Year”, has been ranked among Forbes list of the World’s Most Powerful Women, and the World’s Greenest Billionaires, as well as Jerusalem Post’s 50 Most Influential Jews.

Words of the Week

Such is the way of creation: first comes darkness, then light.
– Talmud, Shabbat 77b