An Israeli billionaire was behind the recent sale of New York’s Plaza Hotel. Yitzhak Tshuva cashed out at a total profit of $920 million when his company—the Elad group—sold its stake in the iconic hotel to the Sahara Group, an Indian company, for a reported $575 million. Tshuva bought the Plaza in 2004 for $675 million, notoriously chopping up the resort into luxury condos, apartments and commercial spaces, and retaining a portion as hotel rooms. After investing $1 billion in renovations, …More

Stocks and bonds associated with the country's "tycoons" ended trading Wednesday with heavy double-digit losses that nobody saw coming in the desultory morning. The opening had been characterized by a positive bias, yet by the end of the day, stocks associated with Israel's No. 1 business baron, Nochi Dankner, were down 16% to 20%. That's just for Wednesday - his company's stocks are down 20% to 40% for the week. Property magnate Yitzhak Tshuva's holding company Delek Group lost 12% and companies controlled by …More