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Grizzly Bulls’ Billionaires Index

⬅ # 104 Michael Platt|# 106 Stefan Persson ➡

# 105 Idan Ofer 

$18.2B

Real Time Net Worth
as of 5/13/2024
-$9.1M (-0.05%)

# 105 Idan Ofer 

$18.2B

Real Time Net Worth
as of 5/13/2024
-$9.1M (-0.05%)
OccupationFounder, Quantum Pacific Group
Source of WealthShipping
Age68
ResidenceLondon, United Kingdom
Marital StatusMarried
Children5
Age-Adjusted Net Worth$10.6B
Idan Ofer
Idan Ofer
Israel
Net worth: $18.2B

Self-Made Score 

Wealth History

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Biography

Biographical Information

Idan Ofer, born on October 2, 1955, is an Israeli billionaire businessman and philanthropist.
He is the son of the late Israeli shipping magnate Sammy Ofer and Aviva Ofer, growing up in Haifa, Israel.
Ofer enlisted in the Israeli Navy, serving as deputy commander of a patrol boat.
He holds a Bachelor of Science in Economics and Shipping from the University of Haifa and an MBA from the London Business School.
Ofer expanded the family shipping business in Hong Kong in the 1980s and later worked in Singapore and the United States.
He is the founder of the Quantum Pacific Group, a Guernsey-based holding corporation.
Ofer served as the Chairman of the Israel Corporation from 1999 to 2010.
In 2014, he established Kenon Holdings, a holding company focusing on automotive and energy industries.
He co-founded the Carbon War Room, a climate change think tank, with Richard Branson and others.
After inheriting half his father's fortune in 2011, he became the richest man in Israel by 2013.
Ofer has been involved in various philanthropic activities, including support for the University of Haifa and environmental causes.
He resigned from the Dean’s executive board of Harvard Kennedy School in October 2023, citing dissatisfaction with the University's response to Hamas' attacks on Israel.

Business Career

Ofer sold 20.17 million shares of Israel Corp for $220 million in March 2022.
The Israel Corporation, under Ofer's control, sold all its shares in Oil Refineries by February 2023, aiming to reduce its carbon footprint.
He faced controversies in Israel for pollution from his chemical factories and his extravagant lifestyle.
In 2014, there were questions raised about possible engagement with an intelligence firm in one of Ofer's companies, though conclusively unproven.
In 2023, Ofer's association with a high-risk company was highlighted in the Ministry of Environmental Protection's report.

Sports Ownership

Ofer owns a 33% stake in Spain's La Liga football club Atlético Madrid.
He purchased a 51% stake in Portuguese football club FC Famalicão in 2018, increasing it to 85% in 2019.
FC Famalicão, under Ofer's ownership, was promoted to the top-tier football league in Portugal, the Primeira Liga, in 2019.

How long would it take you to become as rich as Idan Ofer?

If you started with $10,000 and invested an additional $500 each month at a 44.01% CAGR, it would take you 5 years to reach Idan Ofer's net worth of $18.2B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 40.45% compared to 10.08% for the S&P 500 benchmark.

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Idan Ofer is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Idan Ofer, Shipping is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey