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      Murdoch: King David Was Right, Jerusalem is the Capital

      Media mogul Rupert Murdoch said at an investment meeting that, “What was right for King David is right for me. Jerusalem is the capital."
      By Tzvi Ben Gedalyahu
      First Publish: 9/11/2012, 5:56 PM

      Priestly blessing at the Western Wall (Kotel)
      Priestly blessing at the Western Wall (Kotel)
      Israel news photo: Flash 90

      Media mogul and investor Rudolph Murdoch, who is not Jewish, told an “Innovate, Invest Israel’ conference in New York City, "What was right for King David is right for me. Jerusalem is the capital of Israel.”

      The conference is jointly sponsored by The Wall Street Journal.

      Murdoch also said, "Twenty years ago my company invested in a small company in a small Jerusalem apartment, and what I gained from this company in terms of capital returns and technologically was critical to my company in the last few years."

      “There are more than $11 billion in foreign investments in Israel. Usually we invest in assets that generate the best returns and Israel is too good for investors to ignore it.

      "We once thought that G-d chose a Holy Land without any oil or natural resources, but recent years have shown that Israel has incredible resources with enormous oil and gas reserves".

      Murdoch added, "What differentiates Israel from other countries is the creativity. Israel is successful because it is one of several countries whose economy revolves around the human mind, and it is really a light unto the nations.

      “Bear in mind that everything that happens in Israel happens despite all the threats to the country.”

      Finance Minister Yuval Steinitz opened the conference, which is aimed at encouraging investment in Israel, which Globes said, “presents Israel as a test case of a stable economy in a stormy global market.”

      Foreign investment to Israel has dropped this year, partly due to the threat of war with Iran.

      Other business leaders and investors at the conference included officials from CitiGroup, Noble Energy, Credit Suisse and American Express.