Eyal Ofer

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Eyal Ofer
Eyal Ofer.jpg
Born1950 (age 67–68)
Haifa, Israel
ResidenceMonte Carlo, Monaco
NationalityIsraeli
OccupationChairman, Ofer Global,
Chairman, Zodiac Group Chairman, Global Holdings[1] and Chairman, Eyal & Marilyn Ofer Family Foundation[2]
Net worthUS$9.4 billion (August 2018)[3]
Spouse(s)Marilyn Ofer
Children4
Parent(s)Sammy Ofer
Aviva Ofer
RelativesYuli Ofer (uncle)
Idan Ofer (younger brother)[4]

Eyal Ofer (born 1950) is a Monaco-based Israeli billionaire real estate and shipping magnate, and a philanthropist. He is the chairman of Ofer Global, Zodiac Group and Global Holdings.

Early life[edit]

Eyal Ofer was born in 1950 in Haifa, Israel.[1][5] His father, Sammy Ofer, was a Romanian-born Israeli shipping magnate and once Israel's richest man.[1][6][7] Eyal graduated from Atlantic College, an international boarding school affiliated with the United World Colleges, based in St Donat's Castle, Wales.[8] In his teenage years, he spent summers working on the family company's ships, loading cargo, scraping the boats' sides and repainting them, as well as traveling to international ports.[5]

He served as an intelligence officer in the Israeli Air Force from 1967 to 1973.[5][8] He then studied Law in London.[5]

Career[edit]

Ofer's business interests are concentrated in shipping, cruise lines and global real estate within the Ofer Global group,[9] a Monaco-based private company focused on shipping, real estate, oil and gas, banking and investments in Europe, North America, the Near East and Asia.[10]

According to Forbes, Ofer has a net worth of $9.5 billion, as of March 2016.[1]

In 2014, he received an honorary lifetime membership of the Baltic Exchange in London in recognition of his contribution to shipping in the UK and global maritime trade.[8] Other recipients of this award have included the Duke of Edinburgh, Winston Churchill, and Maersk Mc-Kinney.[11]

In 2016, Lloyd’s List named him number 10 in the top 100 most influential people in the shipping industry.[12]

He is a frequent speaker at industry events, including the Milken Institute Global Conference in 2012, 2013 and 2015.[13][14][15][16] Ofer also regularly attends the World Economic Forum’s annual meeting in Davos.[17]

Property[edit]

Ofer first moved to New York City in 1980 to start the family real estate business, and invested in properties on Park Avenue South, which he rented to law firms and public relations firms through his real estate company, Global Holdings.[5][8] Over the years, he assembled a real estate empire having acquired a deep knowledge of ships which had made him comfortable with managing similarly tangible assets.[17]

Ofer is the chairman of Global Holdings, a private real estate holding company specializing in large-scale commercial real estate and high-end residential developments. Its holdings include prime commercial properties in Manhattan, and a controlling stake in Miller Global Properties, a large real estate investment fund focusing on key markets in North America and Europe.[18] He serves as Miller Global's co-chairman.[19] Global Holdings' commercial projects include, among others, and 120 Park Avenue – the former headquarters of the Altria Group.[20]

Its residential projects include 15 Central Park West, which was described as “the most powerful apartment building in the world” and “the most lucrative”, with quoted apartment sales of approximately $2 billion.[21][22] It was the subject of a book published in March 2014 by Michael Gross entitled "House of Outrageous Fortune: Fifteen Central Park West, the World’s Most Powerful Address".[23]

They also include the development at The Greenwich Lane (in partnership with the Rudin family - formerly the site of Saint Vincent's Catholic Medical Center), together with the redevelopment of 18 Gramercy Park South, 520 Park Avenue and 50 United Nations Plaza (all in partnership with Zeckendorf Development).[5][5][24] 18 Gramercy Park South (ranked the most expensive Manhattan development in 2013)[25] and 15 Central Park West were designed by architect Robert A. M. Stern.[22][26] 50 UN Plaza is a 44-story tower designed by London-based architects Foster and Partners.[27][28] Today, Ofer’s portfolio includes more than 50 properties in four countries.[17]

Shipping[edit]

Ofer started his career in international maritime transportation in all the major shipping segments in the 1980s.[8]

He is the chairman of Zodiac Group, a privately held Monaco-based shipping company with a fleet of more than 150 vessels.[1] It is the largest operator of vessels under the Red Ensign by tonnage.[29] Ofer has been a director of Royal Caribbean Cruises, the second largest cruise company in the world, since May 1995 and holds a significant stake in the company.[8][30]

In 2016, Ofer was ranked 10th in the Lloyd’s List Top 100 Most Influential People in the Shipping Industry. According to Lloyd’s List, “the consensus view from those who know Eyal Ofer best is that he is a man who understands the markets with forensic detail”.[31]

Ofer is said to control the 20th biggest fleet in the world.[17]

Energy[edit]

Through O.G. Oil & Gas, the oil and gas division of Ofer Global, Ofer has exploration and production interests in the Australasia and South East Asia region. In 2017, O.G. Oil & Gas made a partial takeover offer for a majority stake in New Zealand Oil & Gas, which resulted in it acquiring nearly 70% of the company.[32][33][34][35][36]

Ofer is also the principal of OMNI Offshore Terminals, the largest provider of floating production storage and offloading (FSO & FPSO) assets to the offshore oil and gas industry. Founded in 1990, the Singapore–headquartered company has delivered 23 conversion projects, 2 FPSO and 21 FSO.[37]

Technology[edit]

Ofer has interests in technology companies through O.G. Tech Ventures, the tech investment arm of Ofer Global.[38] O.G. Tech Ventures is a venture capital fund launched in 2017 focusing on early growth start-ups with disruptive technologies.[38]

In January 2018, the fund participated in the Series B funding round of Bringg, a delivery logistics platform for enterprises.[39] This follows the fund's participation in the November 2017 funding round of Arbe Robotics, a Tel Aviv startup developing a high-resolution radar system for self-driving cars.[40] It has also invested in enSilo and Secdo, companies which offer cybersecurity and data protection services, as well as ClipCall which brings technology to home maintenance and improvement.[41][42]

Art[edit]

Ofer has built up a significant collection of contemporary and modern art, having also inherited half of his father's "vast collection".[1]

In December 2013, Ofer donated £1.5m to the National Maritime Museum to allow it to keep two 18th-century George Stubbs paintings (Portrait of a Large Dog and The Kongouro from New Holland) in the UK after a public appeal by David Attenborough.[43]

In 2013, Ofer also gave a major gift of £10 million to support the completion of the development of Tate Modern, a museum of modern art based in London.[44][45] As a result, the exhibition gallery on the third floor bears his name.[6] The space has housed many significant exhibitions, including Matisse, Picasso, Edward Hopper and Gauguin.[46]

In 2018, the “Eyal Ofer Galleries” are set to hold Tate Modern’s first ever solo exhibition of Pablo Picasso’s work, “Picasso 1932 – Love, Fame, Tragedy”, which will display the artist’s masterpiece “La Reve” (sold for a record £102 million) along with more than 100 “outstanding” paintings, sculptures and drawings. The exhibition is described by the Tate as one of the most significant in its history.[47][48]

Philanthropy[edit]

Ofer is a supporter of artistic, educational and cultural institutions – including the Tate Modern and the National Maritime Museum in the UK – through the Eyal & Marilyn Ofer Family Foundation, which continues his family's philanthropic tradition.[49]

Ofer is chairman of the Foundation.[2]

Eyal was one of the donors to the Gloriana during the Diamond Jubilee of Elizabeth II in 2012.[6]

Through his family Foundation, in 2013, he donated £10 million to Tate Modern, and £1.5m to the National Maritime Museum.[6][43][44] [49]

Personal life[edit]

He is married to Marilyn Ofer, and they have four children.[1][50] They reside in Monte Carlo, Monaco.[1] In 2008, they resided in west London and had a home in Herzliya Pituah near Tel Aviv.[7] He also owns an apartment at 15 Central Park West, a building he developed located on the Upper West Side of Manhattan in New York City.[5]

References[edit]

  1. ^ a b c d e f g h "Eyal Ofer". Forbes. Retrieved 17 April 2015.
  2. ^ a b "Eyal Ofer Family Foundation gives £10 million towards Tate Modern's new development". tate.org.uk. Retrieved 15 March 2017.
  3. ^ "Eyal Ofer". Forbes. Retrieved 18 January 2018.
  4. ^ "Eyal Ofer, Zodiac Group". Lloyd's List. Retrieved 23 April 2015.
  5. ^ a b c d e f g h Karmin, Craig. Developers Team Up With a Man Behind the Scenes, The Wall Street Journal, May 12, 2013
  6. ^ a b c d Pickford, James. Eyal Ofer donates £10m to Tate Modern extension, Financial Times, July 2, 2013
  7. ^ a b Starkman, Rotem; Georgi, Anat. Be smart, work hard - and be born into the right family, Haaretz, April 3, 2008
  8. ^ a b c d e f "List of Public Companies Worldwide". Bloomberg.com. Retrieved 7 December 2015.
  9. ^ "Bloomberg Billionaires: Eyal Ofer". Bloomberg Billionaires. Retrieved 16 March 2015.
  10. ^ "About Ofer Global". Oferglobal.com. Retrieved 7 December 2015.
  11. ^ "Baltic Exchange awards honorary life membership to Eyal Ofer", All About Shipping, 10 July 2014. Accessed 5 November 2015.
  12. ^ "Top 100 Most Influential People in the Shipping Industry". Lloydslist.com. Retrieved 1 March 2017.
  13. ^ "Global Conference 2012 | Eyal Ofer". Milken Institute. Retrieved 7 December 2015.
  14. ^ "Global Conference 2013 | Eyal Ofer". Milken Institute. Retrieved 7 December 2015.
  15. ^ "Downing Street welcomes shipping leaders". Thebalticbriefing.com. 8 September 2015. Retrieved 7 December 2015.
  16. ^ "Real Estate Titans and Global Investors Convene at Knowledge@Wharton Forum to Address How Emerging Economies Are Coping with the Credit Crisis", Business Wire, 29 October 2008. Accessed 5 November 2015.
  17. ^ a b c d Pendleton, Devon; Benmeleh, Yaacov. "One Winner, One Loser in Brothers' Lottery Worth Billions". Bloomberg.com. Retrieved 1 March 2017.
  18. ^ "Eyal Ofer", Wharton University of Pennsylvania, Accessed 21 October 2015.
  19. ^ "US-based real estate investment company". Global Holdings, Inc. Retrieved 7 December 2015.
  20. ^ Brown, Eliot. "120 Park Avenue Sells for $525 M", Observer, 13 November 2007. Accessed 21 October 2015.
  21. ^ "15 Central Park West | The Real Deal New York". Therealdeal.com. 7 February 2012. Retrieved 7 December 2015.
  22. ^ a b Goldberger, Paul (31 August 2008). "The King of Central Park West". Vanity Fair. Retrieved 7 December 2015.
  23. ^ "Boom with a view". The Economist. 22 March 2014. Retrieved 7 December 2015.
  24. ^ Carlyle, Erin. "Manhattan's New Most Expensive Listing: A $130 Million Park Avenue Penthouse", Forbes, 24 September 2014. Accessed 11 November 2015.
  25. ^ Finn, Robin. "Big Ticket - Gramercy Park Penthouse for $42 Million", The New York Times, 13 September 2013. Accessed 17 March 2016.
  26. ^ Voien, Guelda (7 January 2014). "18 Gramercy Park ranked highest-priced new project of 2013". Therealdeal.com. Retrieved 7 December 2015.
  27. ^ "Norman Foster Enjoys a New York Moment". The New York Times. Retrieved 7 December 2015.
  28. ^ Oshrat Carmiel (6 June 2013). "NYC's Zeckendorfs Embrace Global Buyers With UN Condos". Bloomberg.com. Retrieved 7 December 2015.
  29. ^ "Zodiac signals its commitment to the Red Ensign", Lloyds List, 22 March 2010. Accessed 21 October 2015.
  30. ^ "Royal Caribbean Cruises Ltd. : Investor Relations : Biography". Rclinvestor.com. 23 October 2015. Retrieved 7 December 2015.
  31. ^ "Top 100 Most Influential People in the Shipping Industry". Lloydslist.com. Retrieved 23 February 2017.
  32. ^ Resnick-Ault, Jessica. "O.G. Oil & Gas intends to buy majority stake in New Zealand Oil & Gas". reuters.com. Retrieved 2 October 2017.
  33. ^ "Second takeover offer for NZOG". skynews.com.au. Retrieved 2 October 2017.
  34. ^ "Partial takeover offer for NZOG". nzherald.co.nz. Retrieved 2 October 2017.
  35. ^ McBeth, Paul. "Zeta's partial bid for NZOG trumped by smaller shareholder OGOG". nbr.co.nz. Retrieved 2 October 2017.
  36. ^ "Eyal Ofer secures upstream entry into LNG with New Zeal". TradeWinds. 2018-04-05. Retrieved 2018-08-23.
  37. ^ "Omni Offshore Terminals". Total World Energy. Retrieved 16 March 2015.
  38. ^ a b "Canaan Partners Joins $9M Funding for Arbe Robotics". citybizlist.com. Retrieved 11 January 2018.
  39. ^ Perez, Sarah. "Delivery logistics platform Bringg raises $12M from strategic investors, including Salesforce Ventures". techcrunch.com. Retrieved 19 January 2018.
  40. ^ Lunden, Ingrid. "Arbe Robotics raises $9M to build high-resolution radars for autonomous cars". TechCrunch. Retrieved 11 January 2018.
  41. ^ "Arbe Robotics Raises $9M For Self-Driving Radar Systems Funding - HybridCars.com". HybridCars.com. 2017-11-02. Retrieved 2018-01-10.
  42. ^ "Investors - Roy Oron". signal.nfx.com. Retrieved 19 January 2018.
  43. ^ a b "George Stubbs' kangaroo and dingo paintings to stay in UK", BBC News Online; Entertainment & Arts, 6 November 2013. Retrieved 17 April 2015.
  44. ^ a b Mark Brown, Tate Modern receives £10m gift from Israeli shipping magnate Eyal Ofer, The Guardian, 2 July 2013
  45. ^ Ellie Armon Azoulay, Israeli tycoon Eyal Ofer donates £10 million to London's Tate Modern, Haaretz, 04.07.2013
  46. ^ Andrews, Michael. "Israeli Shipping Billionaire Eyal Ofer Donates £10 Million to the Tate Modern Art Gallery London". jewishbusinessnews.com. Retrieved 24 February 2017.
  47. ^ Singh, Anita. "Picasso exhibition: Tate Modern planning 'blockbuster' in 2018". telegraph.co.uk. Retrieved 24 February 2017.
  48. ^ Brown, Mark. "Tate Modern to host 'once in a lifetime' Picasso exhibition". theguardian.com. Retrieved 24 February 2017.
  49. ^ a b Pendleton, Devon. "Israeli Billionaire Ofer Makes Gift to Expand Tate Modern", Bloomberg Business, July 4, 2013. Accessed 21 October 2015.
  50. ^ "Eyal & Marilyn Ofer Family Foundation". oferfamilyfoundation.org. Retrieved 1 August 2017.

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