Buffett Bets on Israel

Recently, Buffett welcomed 43 Israel bond investors from all over the United States to Omaha. All 43 of the visitors invested at least $1 million more to participate in the evening with the famous CEO and president of Berkshire Hathaway, Warren Buffett.

The event ended up raising about $60 million dollars, all investments, in the form of Israel bonds. Buffett personally invested $5 million for his own portfolio, making it his first overseas investment.

“You can tell prospective investors that I would have taken a perpetual bond if you had offered one. I believe Israel is going to be around forever. If you are looking for brains, energy, and dynamism in the Middle East, Israel is the only place you need to go,” Buffett remarked at the event.

Buffett’s first involvement with Israel bonds were through his company back in 2012, with the acquisition of Berkshire Hathaway GUARD Insurance Companies, previously known as GUARD Insurance and a subsidiary of Clal Insurance Enterprise Holdings, for $221 million. While it isn’t nearly¬†one of Buffett’s or Berkshire’s biggest deals, it was an impressive addition as it included all of Clal’s holdings in the United States, and the company was one of two main insurance companies in Israel.

Even the president and CEO of Israel Bonds, Israel Maimon, commented on Buffett’s involvement, “This event tells me that Warren Buffett, famed for his investment expertise, continues to view Israel as a sure bet.”

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