Idan Ofer ( he, עידן עופר; born 2 October 1955) is an Israeli billionaire businessman and philanthropist, with interests in shipping, energy, mining and sports. He is the founder of Eastern Pacific Shipping, and the principal of the Quantum Pacific Group, a holding company. He is majority shareholder of the

Israel Corporation Israel Corporation ( he, החברה לישראל) (also Israel Corp) is Israel's largest holding company. It was founded in 1968 by the Government of the State of Israel. 50% of its manufacturing activities and 70% of its consolidated revenues ...

, listed on the

Tel Aviv Stock Exchange The Tel Aviv Stock Exchange (TASE; ; colloquially known as The Bursa, ) is Israel's only public stock exchange and a public company that has been traded on the Tel-Aviv Stock Exchange since August 1, 2019. Legally, the exchange is regulated by ...

, as well as Kenon Holdings, listed on the Tel Aviv and

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

. He is also the owner of the Israeli holding company Lynav Holdings and the Dutch-based Ansonia Holdings. Ofer owns a 33% stake in Spain's

La Liga The Campeonato Nacional de Liga de Primera División, commonly known simply as Primera División in Spain, and as La Liga in English-speaking countries and officially as LaLiga Banco Santander, Santander for sponsorship reasons, stylized as LaL ...

association football club

Atlético Madrid Club Atlético de Madrid, S.A.D. (; meaning "Athletic Club of Madrid"), known simply as Atleti in the Spanish-speaking world and commonly referred to at international level as Atlético Madrid, is a Spanish professional football club based i ...

, and an 85% stake in Portugal's

Primeira Liga The Primeira Liga (; English: Premier League, also written as Liga Portugal 1), also known as Liga Portugal Bwin for sponsorship reasons, is the top level of the Portuguese football league system. Organised and supervised by the Liga Portugal, ...

association football club FC Famalicão. As of August 2022, his net worth was estimated at US$11.0 billion.

Early life

Idan Ofer is the son of the late Israeli billionaire Sammy Ofer (originally Shmuel Herskovich) and Aviva Ofer. His father was an Israeli shipping magnate who

immigrated Immigration is the international movement of people to a destination country of which they are not natives or where they do not possess citizenship in order to settle as permanent residents or naturalized citizens. Commuters, tourists, and ...

to Israel from Romania.John Reed
Idan Ofer: fleeing Israel’s new populism
''The Financial Times'', 12 April 2013Isabel Kershner

''The New York Times'', 4 June 2011 His older brother is Israeli businessman Eyal Ofer. His uncle is Yuli Ofer. Ofer grew up in

Haifa Haifa ( he, חֵיפָה ' ; ar, حَيْفَا ') is the third-largest city in Israel—after Jerusalem and Tel Aviv—with a population of in . The city of Haifa forms part of the Haifa metropolitan area, the third-most populous metropol ...

, Israel, to a family of

Ashkenazi Jewish Ashkenazi Jews ( ; he, יְהוּדֵי אַשְׁכְּנַז, translit=Yehudei Ashkenaz, ; yi, אַשכּנזישע ייִדן, Ashkenazishe Yidn), also known as Ashkenazic Jews or ''Ashkenazim'',, Ashkenazi Hebrew pronunciation: , singu ...

(

Romanian-Jewish The history of the Jews in Romania concerns the Jews both of Romania and of Romanian origins, from their first mention on what is present-day Romanian territory. Minimal until the 18th century, the size of the Jewish population increased after ...

) descent. He was enlisted as to mandatory military service in the

Israeli Navy The Israeli Navy ( he, חיל הים הישראלי, ''Ḥeil HaYam HaYisraeli'' (English: The Israeli Sea Corps); ar, البحرية الإسرائيلية) is the naval warfare service arm of the Israel Defense Forces, operating primarily in ...

, serving as deputy commander of a patrol boat. He graduated from the

University of Haifa The University of Haifa ( he, אוניברסיטת חיפה Arabic: جامعة حيفا) is a university located on Mount Carmel in Haifa, Israel. Founded in 1963, the University of Haifa received full academic accreditation in 1972, becoming ...

, Israel, with a Bachelor of Science in Economics and Shipping. He then received a Master's in Business Administration from the

London Business School London Business School (LBS) is a business school and a constituent college of the federal University of London. LBS was founded in 1964 and awards post-graduate degrees (Master's degrees in management and finance, MBA and PhD). Its motto is " ...

in the 1980s.Israeli-Born Billionaire Idan Ofer Donates £25 Million to London Business School
''

Algemeiner Journal The ''Algemeiner Journal'', known informally as ''The Algemeiner'', is a newspaper based in New York City that covers American and international Jewish and Israel-related news. History In 1972, Gershon Jacobson founded the Yiddish-language ...

'', 2 October 2013Sandy Rashty
Idan Ofer donates £25 million to a London business school
''

The Jewish Chronicle ''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the ...

'', 2 October 2013 He has been married four times. His fourth wife is Batia Ofer, a charity fundraiser. He has five children. They resided in Arsuf, Israel (near

Tel Aviv Tel Aviv-Yafo ( he, תֵּל־אָבִיב-יָפוֹ, translit=Tēl-ʾĀvīv-Yāfō ; ar, تَلّ أَبِيب – يَافَا, translit=Tall ʾAbīb-Yāfā, links=no), often referred to as just Tel Aviv, is the most populous city in the G ...

) until 2013.Eytan Avriel
Israeli billionaire Idan Ofer's moving to London. No loss to us
''

Haaretz ''Haaretz'' ( , originally ''Ḥadshot Haaretz'' – , ) is an Israeli newspaper. It was founded in 1918, making it the longest running newspaper currently in print in Israel, and is now published in both Hebrew and English in the Berliner ...

'', 10 April 2013 His daughter Leigh Ofer resides in New York City; his other children reside in London.

Business career

He started his career by expanding the family shipping business in Hong Kong in the 1980s. He then worked in Singapore and the United States. In 1987, he founded Eastern Pacific Shipping, . He is the principal of the Quantum Pacific Group, a

Guernsey Guernsey (; Guernésiais: ''Guernési''; french: Guernesey) is an island in the English Channel off the coast of Normandy that is part of the Bailiwick of Guernsey, a British Crown Dependency. It is the second largest of the Channel Islands ...

-based holding corporation,John Reed
Israel’s richest man risks anger over UK move
''The Financial Times'', 8 April 2013 and the

, one of the largest public holding listed on the Tel Aviv Stock Exchange. He served as the Chairman of the Israel Corporation from 1999 to 2010, and as a member of its board of directors from 1999 to 2013. He has served on the Advisory Boards of Synergy Ventures and Aspect Enterprise Solutions. He was an investor in Better Place, an electric car company which went bankrupt in May 2013. In 2014, he established Kenon Holdings as a spin off from the Israel Corporation.Eran Hazran
In surprise move, Israel Corp. will list spin-off Kenon in Tel Aviv
''Haaretz'', 14 October 2014 It is a holding company primarily focused on growth-orientated businesses in the automotive and energy industries. It inherited some of the investments previously held by the Israel Corporation, such as Qoros, a joint project created in partnership with Chery Automobile that manufactures automobiles aimed towards a 'young, internationally minded' market in China.Colum Murphy
Israel Corp.’s Idan Ofer Reiterates Support for Chinese Car Maker Qoros
''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'', 5 November 2014 Other investments include Zim Integrated Shipping Services and IC Power. It also includes Inkia Energy, a

Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = National seal , national_motto = "Firm and Happy f ...

vian energy company and subsidiary of the IC Power.Naomi Mapstone
Peru’s Inkia Energy sells $300m bond
''The Financial Times'', 30 March 2011 Meanwhile, the Israel Corporation retains investments in

Oil Refineries An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, li ...

and

Israel Chemicals ICL Group Ltd. (Hebrew: איי.סי. אל. גרופ בע"מ) (formerly Israel Chemicals Ltd., ICL) is a multi-national manufacturing concern that develops, produces and markets fertilizers, metals and other special-purpose chemical products. I ...

. He serves on the advisory board of the

Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank specializing in U.S. foreign policy and international relations. Founded in 1921, it is a nonprofit organization that is independent and nonpartisan. CFR is based in New York Ci ...

and the Dean's Council of the John F. Kennedy School of Government at

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of highe ...

. With

Richard Branson Sir Richard Charles Nicholas Branson (born 18 July 1950) is a British billionaire, entrepreneur, and business magnate. In the 1970s he founded the Virgin Group, which today controls more than 400 companies in various fields. Branson expressed ...

and others, he is a co-founder of the

Carbon War Room RMI (Rocky Mountain Institute) is an organization in the United States co-founded by Amory Lovins dedicated to research, publication, consulting, and lecturing in the field of sustainability, with a focus on profitable innovations for energy a ...

, a think tank on climate change based in Washington, D.C. According to ''The Financial Times'', he is "a Tel Aviv liberal in the mould of the old Israeli Labour party." After his father's death in 2011, he inherited half his father's fortune and collection of modern art. As a result, by 2013, he was the richest man in Israel.Alistair Dawber
Israel’s wealthiest man Idan Ofer set to move to London amid tax row
''

The Independent ''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was publish ...

'', 9 April 2013 According to ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'', Ofer has a net worth of $11 billion. In March 2022 Israel Corp controlled by Idan Ofer, sold 20.17 million shares at $10.90 per share for an overall $220 million.

Sports

In 2018, Ofer purchased a 51% stake via Quantum Pacific Group in Portuguese second league football club FC Famalicão, which he subsequently increased to 85% in 2019. In 2019, Famalicão was promoted to the top-tier football league in Portugal, the

. Ofer also owns a 33% stake in Spain's

football club

Controversies

Ofer has come under fire in Israel for moving to London for tax considerations, for pollution from his chemical factories, and for his lavish lifestyle. In 2014, he allegedly paid Israeli espionage company

Black Cube Black Cube (BC Strategy Ltd) is a private intelligence agency based in London, Tel Aviv and Madrid, which drew widespread condemnation for its work surveilling and assisting with efforts to slander the reputations of women accusing Harvey Weinst ...

to track down information on then Israeli Finance Minister

Yair Lapid Yair Lapid ( he, יָאִיר לַפִּיד, transliterated: , ; born 5 November 1963) is an Israeli politician and former journalist who has been serving as the 14th prime minister of Israel since 1 July 2022. He previously served as the alt ...

and other government officials in a bid to influence tax policy. In 2021, he was nominated as the businessman with 6 companies at the top of the Ministry of Environmental Protection's red li

Philanthropy

In 2013, Ofer donated £25 million to his alma mater the London Business School through the Idan and Batia Ofer Foundation.Della Bradshaw, Adam Palin
Idan Ofer gives £25m to London Business School
''The Financial Times'', 26 September 2013Idan Ofer donates $40 million to London Business School
''

The Times of Israel ''The Times of Israel'' is an Israeli multi-language online newspaper that was launched in 2012. It was co-founded by Israeli journalist David Horovitz, who is also the founding editor, and American billionaire investor Seth Klarman.

'', 1 October 2013 As a result of the charitable gift, the largest private donation the school has ever received, the LBS built the Sammy Ofer Centre in 2017 in honor of his father. In 2017, Ofer and his wife Batia made charitable contributions to the

Jewish Museum London The Jewish Museum London is a museum of British Jewish life, history and identity. The museum is situated in Camden Town in the London Borough of Camden, North London. It is a place for people of all faiths to explore Jewish history, culture, ...

. Idan and Batia also launched a maritime scholarship fund in Singapore aiming to award up to 10 full term scholarships per year in the maritime industry.

References

Ashkenazi Jews Ashkenazi Jews ( ; he, יְהוּדֵי אַשְׁכְּנַז, translit=Yehudei Ashkenaz, ; yi, אַשכּנזישע ייִדן, Ashkenazishe Yidn), also known as Ashkenazic Jews or ''Ashkenazim'',, Ashkenazi Hebrew pronunciation: , singu ...