Shlomo Eliahu

About Shlomo Eliahu

Birth Place: Tel Aviv, Israel, Israel
1978: Democratic Movement for Change
Date of birth: (1936-01-18) 18 January 1936 (age 82)
Place of birth: Baghdad, Iraq
Year of aliyah: 1950
Knessets: 9
1978–1980: Democratic Movement
1980–1981: Ahva

Shlomo Eliahu Net Worth

Shlomo Eliahu was born in Tel Aviv, Israel, Israel. 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.
Shlomo Eliahu is a member of Finance and Investments

💰 Net worth: $1.04 Billion

2011 $1.1 Billion
2014 $1.4 Billion
2015 $1.1 Billion
2018 $1.04 Billion

Biography/Timeline

1936

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.

1953

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.

1978

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.

1980

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.

2011

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).