News Briefs

  6/1/2014, Sivan 3, 5774

Patrick Drahi the New Richest Israeli

Telecommunications mogul Patrick Drahi has replaced Eyal Ofer as the richest Israeli, according to a Sunday report by the Globes business publication. Citing information by Forbes Israel, Globes said Drahi is worth NIS 34.9 billion ($11 billion), while Ofer checks in at NIS 24.4 billion ($7.7 billion).

Drahi checked into the Forbes Billionaires list at #114 in the world this year after his Altice multinational telecommunications company raised $1.8 billion in a January initial public offering in Amsterdam. He has made more than 20 acquisitions of lagging cable and mobile operators in Israel and elsewhere, and 27% of Altice's revenues comes from Israel.