Shlomo Eliahu
Migdal Insurance and Financial Holdings Ltd.
Eliahu Insurance Company Ltd.
Knesset - Israeli Parliament
Shlomo Eliahu
Migdal Insurance and Financial Holdings Ltd.
Eliahu Insurance Company Ltd.
Knesset - Israeli Parliament
Israel Eliahu, Shlomo Eliahu's son
Ofer Eliahu, Shlomo Eliahu's son
Shlomo Eliahu was born on January 18, 1936 in Baghdad, Iraq. He grew up poor, immigrating to Israel from Iraq in 1950 with his parents and eight siblings. At first, the family lived in a temporary absorption camp, and later moved to Kiryat Shalom neighborhood in Tel Aviv. Following the death of his father, Eliahu became the primary breadwinner for his family.
Educated in Baghdad. Despite little formal education, Eliahu began working from a young age to help support his family.
Soon after immigrating in 1950 he started working as a messenger for Migdal. After being sacked in 1953, he began working for Binyan as an insurance agent.
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.
From 1978-1981 served as a Member of Israel's Parliament - Knesset 9 and as the Chairman of its Finance Committee.
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 Netto worth of $1.1 billion (United States dollar).
Ahead of the 1977 Knesset elections, Mr. Eliahu joined the Democratic Movement for Change (Dash). He was inducted as a Knesset member a year later, following the resignation of MK Meir Zorea. In 1978, following a split within Dash, he joined MK Yigael Yadin in the Democratic Movement, which he left in 1980 to form the Ahva movement. Following the dissolution of the Knesset in 1981, Mr. Eliahu decided to retire from politics.
Although he is one of the wealthiest men in Israel, Eliahu has never forgotten his humble beginnings. He values hard work, honesty and creativity.
“The difficulties I went through made me who I am. These difficulties made me stronger. Riches never interested me.”
Eliahu was married to Haya Mizrachi and has two daughters and two sons, who hold executive positions in his companies. Now he is divorced.
