Two Diamantaires Among Top Five Billionaires In Richest Israelis List

Two Diamantaires Among Top Five Billionaires In Richest Israelis List

April 1, 2004

Albert Robinson

Two leading diamantaires are among the top five billionaires topping a new list of Israel's 500 wealthiest people.

Diamond tycoon Lev Leviev is number three on the list with an estimated value of $1.5-2 billion, while diamond magnate Benny Steinmetz’s fortune is valued at $1 billion and he is fifth on the list produced by TheMarker, part of the Ha’aretz group.

Leviev, one of the most influential diamond traders in the world with about 20 percent of the world's rough diamonds passing through his companies, becomes a billionaire after his worth soared from $600-900 million in last year’s list.

Leviev, is the owner of Israel’s LLD which has seen rapid growth in recent years, and is considered a major threat to De Beers as his operations continue to spread throughout Russia, the former Soviet republics and Africa.

Leviev also owns the controlling interest in investment firm Africa Israel with 66 percent of the company. Africa Israel is involved in real estate, textiles and other industries.

Meanwhile, Benny Steinmetz jointly owns Israel’s Steinmetz Diamond Group, a De Beers Sightholder, with his brother Daniel.

Steinmetz is also involved in a large diamond project in Sierra Leone and has real estate and engineering interests, owns Bateman, a technology company servicing the mining industry and the successful jewelry retail website Diamond.com.