Leon Recanati: Difference between revisions
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{{About |
{{About|the Israeli businessman and philanthropist|his grandfather, the banker and philanthropist in Mandatory Palestine|Leon Yehuda Recanati}} |
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{{Infobox person |
{{Infobox person |
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| name = Leon Recanati |
| name = Leon Recanati |
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| resting_place = |
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| nationality = Israeli |
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| nationality = Israel |
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| education = |
| education = |
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| occupation = businessman and philanthropist |
| occupation = businessman and philanthropist |
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| known_for = co-chairman of IDB Holding |
| known_for = co-chairman of IDB Holding |
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| networth = |
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| spouse = |
| spouse = |
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| parents = Mathilda Carasso<br> Daniel Recanati |
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| children = 3 |
| children = 3 |
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| relatives = [[Leon Yehuda Recanati]] |
| relatives = [[Leon Yehuda Recanati]] (grandfather)<br>[[Raphael Recanati]] (uncle)<br> [[Michael Recanati]] (cousin)<br>[[Thomas Kaplan]] (son-in-law)<br>[[Avraham Rakanti]] (great-uncle) |
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'''Leon Recanati''' ({{ |
'''Leon Recanati''' ({{langx|he|ליאון רקנאטי}}; born May 10, 1948) is an Israeli businessman and philanthropist. |
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==Biography== |
==Biography== |
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Leon Recanati is the son of Mathilda and Daniel Recanati.<ref name=JewishVirtualLibrary>[https://www.jewishvirtuallibrary.org/jsource/biography/Leon_Recanati.html Jewish Virtual Library: "Leon Recanati"] retrieved May 12, 2013</ref> His father served as CEO of the [[Israel Discount Bank]] and along with his brothers, established the IDB Holding Corporation.<ref name=TelAvivUnivRecanti>{{cite news | title =Leon Yehuda Recanati | publisher =Tel Aviv University/Recanati Business School | url =http://recanati-bs.tau.ac.il/Eng/?CategoryID=308&ArticleID=461 | access-date =2013-02-18 | archive-url =https://archive.today/20130412225020/http://recanati-bs.tau.ac.il/Eng/?CategoryID=308&ArticleID=461 | archive-date =2013-04-12 | url-status =dead }}</ref> After completing his military service, Recanati earned a B.A. in economics and an M.B.A. at [[Hebrew University]] in Jerusalem.<ref name=JewishVirtualLibrary /> Leon Recanati is married to artist Mira Recanati. They have two children, Daniel and Dafna who is married to American philanthropist and investor [[Thomas Kaplan]].<ref>{{cite news|url=https://www.nytimes.com/2010/01/10/nyregion/10routine.html|title=Coffee for Me, Worms for Her|author=Robin Finn|date=10 January 2010|website=The New York Times}}</ref><ref>{{cite web|url=https://www.forbes.com/profile/thomas-kaplan/|title=Thomas Kaplan|website=forbes.com}}</ref> Recanati has a younger daughter May from a past relationship with Shula Recanati.<ref>[http://www.grg.co.il/management_shula_recanati.html Glen Rock Israel website: Management - Dr. Shula Recanati] retrieved May 12, 2013</ref> |
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==Business career== |
==Business career== |
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In 1971, he worked for the Israel Discount Bank – which was founded by his grandfather, [[Leon Yehuda Recanati]]. In 1979, he was appointed deputy CEO with responsibility for all branches and marketing. He largely escaped the scandal of the [[1983 Israel bank stock crisis]].<ref name="ha081012">{{cite news|last1=Lipson|first1=Nathan|title=The Losses of Leon Recanati|url=https://www.haaretz.com/print-edition/business/the-losses-of-leon-recanati-1.259224| |
In 1971, he worked for the Israel Discount Bank – which was founded by his grandfather, [[Leon Yehuda Recanati]]. In 1979, he was appointed deputy CEO with responsibility for all branches and marketing. He largely escaped the scandal of the [[1983 Israel bank stock crisis]].<ref name="ha081012">{{cite news|last1=Lipson|first1=Nathan|title=The Losses of Leon Recanati|url=https://www.haaretz.com/print-edition/business/the-losses-of-leon-recanati-1.259224|access-date=24 December 2017|publisher=Haaretz|date=October 12, 2008}}</ref> In 1986, he transferred to IDB Holding, the investment side of the family business where he rotated through various chairmanships at [[Shufersal|Supersol]], [[Delek]] and Clal, and later served as co-CEO and co-chairman of IDB Holding.<ref name=JewishVirtualLibrary /> |
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In May 2003, the family sold IDB Holding to [[Nochi Dankner]]<ref name=HaaretzLosses>[http://www.haaretz.com/print-edition/business/the-losses-of-leon-recanati-1.259224 Haaretz: "The losses of Leon Recanati - He had it all: money, prestige - but the scion of the banking family wanted more" By Nathan Lipson] December 10, 2008</ref> and divided its assets. With his share, Recanati established Glenrock, an investment company, which he ran with his wife Shula Recanati and Ziv Kop.<ref name=HaaretzLosses /> It has three divisions: ''GlenRock America'' assists Israeli businesses in entering the American market and also serves as a conduit for American investors to invest in Israel (headed by Larry Graev); ''GlenRock Israel'' invests in local technology companies; and ''GlenRock Italy'' advises Israeli businesses in penetrating the Italian market and serves as a bridge for Italian investors interested in investing in Israel (headed by Rony Benatof).<ref name=JewishVirtualLibrary /> |
In May 2003, the family sold IDB Holding to [[Nochi Dankner]]<ref name=HaaretzLosses>[http://www.haaretz.com/print-edition/business/the-losses-of-leon-recanati-1.259224 Haaretz: "The losses of Leon Recanati - He had it all: money, prestige - but the scion of the banking family wanted more" By Nathan Lipson] December 10, 2008</ref> and divided its assets. With his share, Recanati established Glenrock, an investment company, which he ran with his wife Shula Recanati and Ziv Kop.<ref name=HaaretzLosses /> It has three divisions: ''GlenRock America'' assists Israeli businesses in entering the American market and also serves as a conduit for American investors to invest in Israel (headed by Larry Graev); ''GlenRock Israel'' invests in local technology companies; and ''GlenRock Italy'' advises Israeli businesses in penetrating the Italian market and serves as a bridge for Italian investors interested in investing in Israel (headed by Rony Benatof).<ref name=JewishVirtualLibrary /> |
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In 2007, he purchased a 50.4% stake (73% total with two minority partners) in the Gmul Investment Company for NIS 600 million more than twice its market capitalization. Gmul had stakes in real estate, hotels, investments, and automotive. It was founded in 1950 by Bank Hapoalim, the Histadrut labor federation and several pension funds then sold to the brothers Jules and Eddy Trump, who listed it on the [[Tel Aviv Stock Exchange]], and then sold in October 2003 to Eyal Yona and Amnon Barzilay.<ref name=HaaretzLosses /> Performance at Gmul deteriorated. Recanati stated: "At this point I can say that buying control of Gmul was the worst deal I have ever made... I cannot invest any more in Gmul, but I hope that we can all work together to find a solution and reach a fair, mutually agreed-upon arrangement."<ref>[http://www.haaretz.com/print-edition/business/recanati-buying-gmul-was-the-worst-deal-in-my-life-1.259223 Haaretz: "Recanati: 'Buying Gmul was the worst deal in my life' -Leumi is demanding immediate repayment of NIS 5 million in loans" By Michael Rochvarger and Yuval Maoz] December 10, 2008</ref> In October 2011, he sold half of his 50.4% investment in Gmul to Itzhak Gvilli for NIS 20 million.<ref>[http://www.haaretz.com/business/cutting-his-losses-recanati-sells-half-his-stake-in-gmul-1.388460 Haaretz: "Recanati Cutting his losses / Recanati sells half his stake in Gmul - Leon Recanati, through his privately owned company Legov, sells 25.2% of the company's stock, representing half his 50.4% stake, along with a share in control to CPA Itzhak Gvilli for up to NIS 20 million" By Michael Rochvarger] October 6, 2011</ref> He resigned as chairman of Gmul in July 2012.<ref>[http://in.reuters.com/finance/stocks/GMUL.TA/key-developments/article/2594497 Reuters: GMUL Investment Company Ltd Announces Resignation of Chairman, Mr. Leon Recanati] July 30, 2012</ref> |
In 2007, he purchased a 50.4% stake (73% total with two minority partners) in the Gmul Investment Company for NIS 600 million more than twice its market capitalization. Gmul had stakes in real estate, hotels, investments, and automotive. It was founded in 1950 by Bank Hapoalim, the Histadrut labor federation and several pension funds then sold to the brothers Jules and Eddy Trump, who listed it on the [[Tel Aviv Stock Exchange]], and then sold in October 2003 to Eyal Yona and Amnon Barzilay.<ref name=HaaretzLosses /> Performance at Gmul deteriorated. Recanati stated: "At this point I can say that buying control of Gmul was the worst deal I have ever made... I cannot invest any more in Gmul, but I hope that we can all work together to find a solution and reach a fair, mutually agreed-upon arrangement."<ref>[http://www.haaretz.com/print-edition/business/recanati-buying-gmul-was-the-worst-deal-in-my-life-1.259223 Haaretz: "Recanati: 'Buying Gmul was the worst deal in my life' -Leumi is demanding immediate repayment of NIS 5 million in loans" By Michael Rochvarger and Yuval Maoz] December 10, 2008</ref> In October 2011, he sold half of his 50.4% investment in Gmul to Itzhak Gvilli for NIS 20 million.<ref>[http://www.haaretz.com/business/cutting-his-losses-recanati-sells-half-his-stake-in-gmul-1.388460 Haaretz: "Recanati Cutting his losses / Recanati sells half his stake in Gmul - Leon Recanati, through his privately owned company Legov, sells 25.2% of the company's stock, representing half his 50.4% stake, along with a share in control to CPA Itzhak Gvilli for up to NIS 20 million" By Michael Rochvarger] October 6, 2011</ref> He resigned as chairman of Gmul in July 2012.<ref>[https://archive.today/20130616094226/http://in.reuters.com/finance/stocks/GMUL.TA/key-developments/article/2594497 Reuters: GMUL Investment Company Ltd Announces Resignation of Chairman, Mr. Leon Recanati] July 30, 2012</ref> |
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==Philanthropy== |
==Philanthropy== |
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Recanati serves as vice chairman of the Israel Cancer Association.<ref name=JewishVirtualLibrary /> He has served as chairman of [[Tel Aviv University]]'s Development Committee and he also is involved with the [[Israel Museum]] and the [[Tel Aviv Museum]].<ref name=JewishVirtualLibrary /> Recanati established the Tapuah program in Israel which established 48 centers in disadvantaged areas and Bedouin, Druze and Arab villages where basic computer and internet training is provided.<ref name=JewishVirtualLibrary /> |
Recanati serves as vice chairman of the Israel Cancer Association.<ref name=JewishVirtualLibrary /> He has served as chairman of [[Tel Aviv University]]'s Development Committee and he also is involved with the [[Israel Museum]] and the [[Tel Aviv Museum]].<ref name=JewishVirtualLibrary /> Recanati established the Tapuah program in Israel which established 48 centers in disadvantaged areas and Bedouin, Druze and Arab villages where basic computer and internet training is provided.<ref name=JewishVirtualLibrary /> In addition, he named the Salonika and Greece Jewry Heritage Center in memory of his grandfather, [[Leon Yehuda Recanati]].<ref>Salonika and Greece Jewry Heritage Center http://www.salonikaheritage.com/html5/?_id=14363&did=9267&title=en|</ref> |
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==References== |
==References== |
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{{DEFAULTSORT:Recanati, Leon}} |
{{DEFAULTSORT:Recanati, Leon}} |
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[[Category:Living people]] |
[[Category:Living people]] |
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[[Category:Hebrew University of Jerusalem alumni]] |
[[Category:Hebrew University of Jerusalem Faculty of Social Sciences alumni]] |
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[[Category:Israeli Jews]] |
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[[Category:Israeli businesspeople]] |
[[Category:Israeli businesspeople]] |
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[[Category:Israeli people of Greek-Jewish descent]] |
[[Category:Israeli people of Greek-Jewish descent]] |
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[[Category:1948 births]] |
[[Category:1948 births]] |
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[[Category:Recanati family]] |
[[Category:Recanati family]] |
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[[Category:Jerusalem School of Business Administration alumni]] |
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Latest revision as of 18:18, 3 November 2024
Leon Recanati | |
|---|---|
 | |
| Born | May 10, 1948 |
| Nationality | Israeli |
| Occupation(s) | businessman and philanthropist |
| Known for | co-chairman of IDB Holding |
| Children | 3 |
| Relatives | Leon Yehuda Recanati (grandfather) Raphael Recanati (uncle) Michael Recanati (cousin) Thomas Kaplan (son-in-law) Avraham Rakanti (great-uncle) |
Leon Recanati (Hebrew: ליאון רקנאטי; born May 10, 1948) is an Israeli businessman and philanthropist.
Biography
[edit]Leon Recanati is the son of Mathilda and Daniel Recanati.[1] His father served as CEO of the Israel Discount Bank and along with his brothers, established the IDB Holding Corporation.[2] After completing his military service, Recanati earned a B.A. in economics and an M.B.A. at Hebrew University in Jerusalem.[1] Leon Recanati is married to artist Mira Recanati. They have two children, Daniel and Dafna who is married to American philanthropist and investor Thomas Kaplan.[3][4] Recanati has a younger daughter May from a past relationship with Shula Recanati.[5]
Business career
[edit]In 1971, he worked for the Israel Discount Bank – which was founded by his grandfather, Leon Yehuda Recanati. In 1979, he was appointed deputy CEO with responsibility for all branches and marketing. He largely escaped the scandal of the 1983 Israel bank stock crisis.[6] In 1986, he transferred to IDB Holding, the investment side of the family business where he rotated through various chairmanships at Supersol, Delek and Clal, and later served as co-CEO and co-chairman of IDB Holding.[1]
In May 2003, the family sold IDB Holding to Nochi Dankner[7] and divided its assets. With his share, Recanati established Glenrock, an investment company, which he ran with his wife Shula Recanati and Ziv Kop.[7] It has three divisions: GlenRock America assists Israeli businesses in entering the American market and also serves as a conduit for American investors to invest in Israel (headed by Larry Graev); GlenRock Israel invests in local technology companies; and GlenRock Italy advises Israeli businesses in penetrating the Italian market and serves as a bridge for Italian investors interested in investing in Israel (headed by Rony Benatof).[1]
In 2007, he purchased a 50.4% stake (73% total with two minority partners) in the Gmul Investment Company for NIS 600 million more than twice its market capitalization. Gmul had stakes in real estate, hotels, investments, and automotive. It was founded in 1950 by Bank Hapoalim, the Histadrut labor federation and several pension funds then sold to the brothers Jules and Eddy Trump, who listed it on the Tel Aviv Stock Exchange, and then sold in October 2003 to Eyal Yona and Amnon Barzilay.[7] Performance at Gmul deteriorated. Recanati stated: "At this point I can say that buying control of Gmul was the worst deal I have ever made... I cannot invest any more in Gmul, but I hope that we can all work together to find a solution and reach a fair, mutually agreed-upon arrangement."[8] In October 2011, he sold half of his 50.4% investment in Gmul to Itzhak Gvilli for NIS 20 million.[9] He resigned as chairman of Gmul in July 2012.[10]
Philanthropy
[edit]Recanati serves as vice chairman of the Israel Cancer Association.[1] He has served as chairman of Tel Aviv University's Development Committee and he also is involved with the Israel Museum and the Tel Aviv Museum.[1] Recanati established the Tapuah program in Israel which established 48 centers in disadvantaged areas and Bedouin, Druze and Arab villages where basic computer and internet training is provided.[1] In addition, he named the Salonika and Greece Jewry Heritage Center in memory of his grandfather, Leon Yehuda Recanati.[11]
References
[edit]- ^ a b c d e f g Jewish Virtual Library: "Leon Recanati" retrieved May 12, 2013
- ^ "Leon Yehuda Recanati". Tel Aviv University/Recanati Business School. Archived from the original on 2013-04-12. Retrieved 2013-02-18.
- ^ Robin Finn (10 January 2010). "Coffee for Me, Worms for Her". The New York Times.
- ^ "Thomas Kaplan". forbes.com.
- ^ Glen Rock Israel website: Management - Dr. Shula Recanati retrieved May 12, 2013
- ^ Lipson, Nathan (October 12, 2008). "The Losses of Leon Recanati". Haaretz. Retrieved 24 December 2017.
- ^ a b c Haaretz: "The losses of Leon Recanati - He had it all: money, prestige - but the scion of the banking family wanted more" By Nathan Lipson December 10, 2008
- ^ Haaretz: "Recanati: 'Buying Gmul was the worst deal in my life' -Leumi is demanding immediate repayment of NIS 5 million in loans" By Michael Rochvarger and Yuval Maoz December 10, 2008
- ^ Haaretz: "Recanati Cutting his losses / Recanati sells half his stake in Gmul - Leon Recanati, through his privately owned company Legov, sells 25.2% of the company's stock, representing half his 50.4% stake, along with a share in control to CPA Itzhak Gvilli for up to NIS 20 million" By Michael Rochvarger October 6, 2011
- ^ Reuters: GMUL Investment Company Ltd Announces Resignation of Chairman, Mr. Leon Recanati July 30, 2012
- ^ Salonika and Greece Jewry Heritage Center http://www.salonikaheritage.com/html5/?_id=14363&did=9267&title=en%7C