By COLlive reporter
Billionaire investor Warren Buffett has completed the acquisition of Israel’s Iscar Metalworking toolmaking company for $2 billion, after acquiring 80 percent of the company in 2006.
“Israel is a great place to invest because of its people,” the CEO of Berkshire Hathaway said in an interview with Boaz Bismuth of Israel Hayom, Israel’s most widely read newspaper.
“There is no other place in the world where you find people with these qualities, as well as with the motivation and the ability to focus that you see at Iscar,” he said.
Following the interview which took place in Omaha, Nebraska, Bismuth presented the man ranked as one of the world’s wealthiest and most charitable people with a single U.S. dollar bill.
“Chabad members asked me to give him a dollar blessed by the Lubavitcher Rebbe. I gave it to him at the end of the interview,” the Israeli journalist said. The photograph of them appeared on the front page of Thursday’s Israel Hayom.
Buffett took the dollar and responded, “You know, if I take this dollar with me to Israel, you’ll see how I will turn it into ten dollars in Israel.”
When Bismuth told him that the dollar was blessed, Buffett said, “This will bring me luck? OK, I will keep the Rebbe’s dollar.”
As they were departing, Buffet jokingly handed his wallet to Eitan Wertheimer, Iscar’s chairman, to pose with it.
“You can keep it,” Buffett told him. “There is already nothing in it. You took $2 billion from me after taking $4 billion several years ago. Now, all I have left is the Rebbe’s dollar.”
Bottom line:
He got a Dollar from the Rebbe who gave it to give to charity!
#5, 6 fools. Learn finance, learn tax law, learn Samach Vav, READ #3 LINK
Coke, etc., most large publicly traded companies are multi-national. how can one say he never invested outside of the US. Warrent Buffet is the holder of stocks of the largest Multinational Companies on the plannet???!!
You are wrong. This was his first investment outside the US several more followed but are not widely discussed as they are small potatoes. Read his annual report.
your actually completely incorrect. he has NEVER invested outside the US. you apparently know nothing about his investment strategy.
When Warren Buffett plunked down $4 billion for an 80 percent stake in Israeli-based Iscar Metalworking in 2006, his first-ever foreign acquisition sent an unmistakable message that Israel’s industry is a good bet for foreign investors. Today, though Israel’s economy suffers from a growing income gap between rich and poor, foreign investment is up and Israeli high-tech start-ups are on the rise.
I’m quite sure Buffet has invested in many places outside the US but its still very exciting to have such a respected high profile person hold Israel and its people in such high regard.. and his words to the Israeli government was quite clear “keep you citizens as comfortable as possible as not to dampen their entrepreneurial spirit” PC but loud and clear!
This was Buffet’s first investment EVER outside the US, and he chose Israel. Hopefully he will sponsor the sentury guards that will be protecting the Beis HaMikdash haShlishi!