Yitzhak Tshuva Net Worth is$2.2 Billion
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Nicknames: State of Israel
Yitzhak Tshuva net worth: Yitzhak Tshuva is an Israeli business magnate who has a net worth of $2.2 billion. Yitzhak Tshuva is the chairman of El-Ad Group, a property company with buildings mostly in America and Canada. In July 2012, he sold his 60% stake in the crown jewel, Manhattan's Plaza Hotel, and nearby retail space for $675 million. In addition to the Israel-based real estate development conglomerate, Tshuva owns Delek Group, which is an energy conglomerate again located in Israel. Tshuva's fairy-tale life story began in Netanya in a single room where his poor family of 11 lived briefly. However, things have turned for the better once Tshuva became a contractor and later earned a tidy fortune in the construction boom that coincided with the influx of Soviet Jews to Israel during the 1980s and early 90?s. But it was in 1998 when his life changed for good, having orchestrated a hostile takeover of Delek, Israel's second-largest oil and gas company and. Being once poor, Tshuva set up a fund at Delek, through which he provides scholarships for 400 Israeli university students each year. As of March 2013, Tshuva is the 8th richest man in Israel. He is married with five children.
Yitzhak Tshuva (born July 7, 1948) is an Israeli business magnate. He is the chairman of El-Ad Group, which owned the New York Plaza Hotel. He also owns the Israeli conglomerate Delek Group. In 2012 he was listed by Forbes as the eighth wealthiest Israeli. His personal wealth is estimated to be $1.9 billion as of March 2012[update], down from a peak of $3.5 billion in 2008.
Tshuva was born in Libya in 1948, his family immigrated to Israel as part of the Jewish exodus from Arab and Muslim countries when he was six months old; at the age of 12, he started working in construction and agriculture. After his army service, he began working as a contractor for the Israeli Defense Ministry, building fortifications along the Bar-Lev Line near the Suez Canal, after Israel captured the Sinai Peninsula from Egypt in the 1967 Six Day War.
In 1970s, Tshuva became a developer of low-income neighborhoods mainly in his home town of Netanya. His major business breakthrough came in 1998, when he managed to gain control of Delek, The Israel Fuel Corporation, from the Recanati business familya??s IDB Holdings; which he grew and developed into the Delek Group, a global integrated energy company.

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Yitzhak Tshuva Latest News

UPDATE 2-Gas from Israel's Tamar field starts flowing -owner

JERUSALEM, March 30 (Reuters) - Natural gas from the Tamar field off Israel’s Mediterranean shores began ... economy and the start of a new era,” said Israeli billionaire Yitzhak Tshuva, the controlling shareholder in Delek Group, one of the partners ...
Posted: March 30, 2013, 12:24 pm

Tshuva tests water for debt offering

Two-and-a-half years after the NIS 1.4 billion haircut in Delek Real Estate, Yitzhak Tshuva's Delek Group seeks to make a bond issue. Two-and-a-half years after the debt settlement in Delek Real Estate, Yitzhak Tshuva once more seeks to raise money on the ...
Posted: February 10, 2015, 12:32 am

Police begin evictions, demolitions in Givat Amal

Givat Amal is home to approximately 150 people and sits on land valued at billions of shekels that belongs to Israeli businessman Yitzhak Tshuva, who plans to redevelop the working class neighborhood by building luxury apartment complexes. Givat Amal ...
Posted: September 17, 2014, 11:52 pm
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