Idan Ofer Net Worth & Biography

Israeli businessman Idan Ofer is considered one of the wealthiest men in Israel today. Most of his net worth, now estimated by Forbes magazine at over 5 billion dollars, is derived from his drilling and shipping business which was passed down to him by his billionaire father Sammy Ofer who was also a shipping tycoon until his death in 2011. Mr. Idan Ofer as of this moment is in control of Quantum Pacific Group which holds a significant interest in Pacific Drilling SA. This company also has interests in Israel Corporation which is now the largest public holding firm on Tel Aviv Stock Exchange. To also mention, Mr. Ofer served as the Chairman of the Silicon Valley-based electric car fueling station, Better Place, before the company went bankrupt in May 2013. Together with his brother Eyal Ofer, this talented entrepreneur also owns and manages Zim Integrated Shipping Services which is considered to be one of the most wide-reaching shipping companies in the world today. More interesting details follow below.

Early Life: Childhood, Education

Born on 2 October 1955 in Haifa, Israel, Idan Ofer is the son of late shipping magnate Sammy Ofer and his wife Aviva Ofer. His father was originally from Romania. He has a brother named Eyal.

Idan was raised in Haifa under the protection and provision of his parents. He did his mandatory military service in the Israeli Navy where he served as deputy commander of a patrol boat.

For his education, he attended the University of Haifa and graduated with a Bachelor of Science in Economics and Shipping. He then attended the London Business School where he received a Master’s in Business Administration in the 1980s.

Professional Life: Business Activities

After completing his studies in the 1980s, Idan Ofer joined his family’s shipping business and began to expand it in Hong Kong. He then worked in the United States and Singapore before founding Eastern Pacific Shipping in 1987.

Today, Idan Ofer is the principal of Quantum Pacific Group which holds a significant interest in Pacific Drilling SA. This company also has interests in Israel Corporation which is now the largest public holding firm on Tel Aviv Stock Exchange. He was the Chairman of the Israel Corporation from 1999 to 2010 and served on its board of directors as a member from 1999 to 2013. Likewise, he has served on the Advisory Boards of Aspect Enterprise Solutions and Synergy Ventures.

In 2014, a year after his investment in Better Place ended in shambles after the company went bankrupt, Mr. Ofer established Kenon Holdings, born from the Israel Corporation. It is a holding company mainly focused on businesses in the energy and automotive industries. It inherited some investments previously owned by the Israel Corporation, such as Qoros, Zim Integrated Shipping Services, IC Power, and Inkia Energy. The Israel Corporation retains investments in Israel Chemicals and Oil Refineries.

Mr. Ofer also serves on the board of the Council on Foreign Relations & the Dean’s Council of the John F. Kennedy School of Government at Harvard University. He co-founded the Carbon War Room along with Richard Branson and others, as a think tank on climate change headquartered in Washington, D.C.

When his father’s died in 2011, Mr. Ofer inherited half of his father’s assets and collection of modern art. The result of this was his ascension to the number one rank as the richest man in Israel in 2013.

In 2018, through the Quantum Pacific Group, Idan Ofer purchased a 51 percent stake in the Portuguese football club FC Famalicão, which he later increased to 85% in 2019. He also owns a 32 percent stake in the Spanish football club Atletico Madrid.

Personal Life: Wife, Children, Private Interests

Mr. Ofer has been married on four occasions so far. His fourth wife, Batia Perry, is a charity fundraiser.

He is a proud father of 5, and lives with his wife in Arsuf, near Tel Aviv. His children reside in New York City and London. He is passionate about sports and spends most of his leisure time watching football and cheering the football teams he owns and supports.

Salary, Income Sources, Assets

The London-based Israeli business tycoon and philanthropist, Idan Ofer, currently has a net worth of 5.9 billion dollars. His father, Sammy Ofer, along with his uncle, Yuli Ofer, founded the Ofer Brothers Group in the 1950s. The company went on to grow massively over the course of the next five decades, expanding into real estate, technology, and multimedia ventures. After the death of both founders, Idan Ofer and his brother, Eyal, inherited equal shares of the Ofer Brothers Group, which they later dissolved. The siblings invested their inheritance in numerous businesses which eventually thrived and made them wealthy and famous people. He also earns from his numerous businesses and investments which include two successful football clubs competing in the Spanish La Liga and in the Portuguese Primera Liga.

Mr. Idan Ofer is considered one of the wealthiest men in Israel today. Most of his wealth has come from his drilling and shipping business. He is also an active philanthropist, who, together with his wife, is dedicated to supporting numerous charity causes and helping the underprivileged in society.