Lev Leviev is perhaps best known as the man who defied De Beers, the mighty cartel that controlled the flow of the world’s supply of rough diamonds.
By doing so, Leviev has become one of the world’s richest men. Close friends claim he’s worth about $8 billion, but Forbes lists him at a conservative $4.1 billion.
And of course, immense wealth almost always makes access easier to the halls of political power. Among his circle of friends are the heads of state of the splintered republics of the former Soviet Union and the African nations of Angola and Namibia.
Big deal, you say? Sure, none of these countries, save for Russia, are world powers. But think business. Russia and Angola sit on an as yet un-mined stash of top-quality diamonds. Namibia is a prolific diamond producer as well. The ex-USSR states that are situated on the Caspian Sea, including Borat’s Kazakhstan, are said to possess the world’s third largest reserves of oil and natural gas.
As one of Israel’s successful diamond cutters and polishers, Leviev in 1995 walked away from his bittersweet relationship with De Beers. He was a “sightholder,” one of about 100 worldwide who came to De Beers’ London headquarters to buy at set prices whatever unpolished diamonds De Beers wanted to dispense. His departure caused little concern with De Beers, which was established in 1888.
But Leviev, who left his native Uzbekistan (another ex-USSR state) for Israel as a teen-ager, by then had lined up his own source of rough diamonds — Russia.
His Russian connections enabled Leviev to do what no other diamond dealer has ever done before. He mined, cut, polished, shipped and sold his own diamonds, which meant he profited every step of the way.
Russian friends also introduced him to their African friends who needed a little help with their diamond operations. In 1996 Leviev invested $60 million in Angola’s largest diamond mine and in 2003 another $30 million in the Namibian Minerals Corporation. Add to his holdings a gold mine in Kazakhstan and mining licenses in the Urals.
But Israel is where Leviev’s heart is. Perhaps making a keen business decision inspired by his faith, Leviev bought a controlling interest in the Africa Israel company, established in 1934 by South African Jewish investors to help Israel’s pre-statehood settlement.
Leviev had left Uzbekistan for the stifling religious restrictions under communist rule. With Africa Israel, he is building homes, roads, resorts and shopping malls in Israel. As with his diamond enterprises, he is thinking globally. He is heavily investing not only in the former Soviet republics, but in Prague, Serbia, Bulgaria and Romania. And of course, the crown jewel of real estate — New York City.
Africa Israel Investments Ltd., has been valued at $5 billion and bought about $1 billion worth of real estate in New York in the last six months of 2007 alone, prompting The New York Observer to write a story titled “Lev Leviev: What Does He Not Own?”
In addition to owning the old New York Times building in Manhattan, the Clock Tower on Madison Ave., half of Apthrop apartment buildings on the Upper West Side, Leviev also funds Queens Gymnasia in Elmhurst for Jewish children. Leviev is the largest franchise holder of 7-Eleven, owns 1,700 Fina gas stations and properties in Texas, Florida, California. In the works is a Hard Rock amusement park in Myrtle Beach, S.C.
While he has the “instincts of a tiger and balls of a panther,” as a Tel Aviv merchant described him to the New York Times Magazine, Leviev is known as a deeply religious man and fiercely devoted to his extended family, wife and nine children.
His philanthropic foundation, Ohr Avner, was established to benefit Jewish causes in the former Soviet Union, where he has convinced his high-powered friends to allow more religious freedom.
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3 Comments
#1. Agnes Villanueva 02.04.2008
Wow! If I ever think about buying diamonds, it’ll be from this philanthropic guy. Meanwhile, I’ll buy a Coke from 7-Eleven!
#2. Jacob 02.04.2008
I’m not impress at all ,and i sure Mr. Levaiev thinks like me
if G-D wants there is no limit. It nothing to do with the person.
and i’m happy he is the one. G-D blass him and all
and he is doing good things with the money, so let him have more ….it’s not coming from any other person poket
#3. JAMES SAED YASPOT 07.11.2008
I would like to do business in gold mining in PNG with Israeli investor please email me for imformations.
cheers
Mr James Saed Yaspot
Placer Co Ltd
Ph: 675 986 4339
Fx: 675 986 4152
mobile: 675 670 3002
js_syaspot@yahoo.com.au
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