Shlomo Eliahu

Shlomo Eliahu is the quintessential example of an Israeli success story. As a child, his family immigrated to Israel with nothing, but he has become a self-made man, one of the leading businessmen in Israel, and the most influential figure in the Israeli insurance industry.

Mr. Eliahu was born in Baghdad, Iraq, in January 1936. At the age of 14, he immigrated to Israel with his parents and eight siblings. At first, the family lived in a temporary absorption camp, and later moved to Kiryat Shalom neighborhood in Tel Aviv. Following the death of his father, Mr. Eliahu became the primary breadwinner for his family.

After a brief period as an apprentice in a welding workshop, he sustained a leg injury and was subsequently dismissed. He found work as a messenger for the Migdal Insurance Company, and shortly thereafter decided to become an independent insurance agent. In 1955 he opened an insurance agency, which operated out of a motorcycle repair shop in south Tel Aviv’s Shapira neighborhood. Riding his bike, Mr. Eliahu enlisted clients from among the residents of southern Tel Aviv. Simultaneously, he worked as an entertainment promoter.

In 1966, at the age of 30, he founded the Eliahu Insurance Company – the first firm in Israel’s history licensed to sell insurance. Initially, the company focused on car insurance, but within a few years, it expanded into all avenues of the insurance industry.

Ahead of the 1977 Knesset elections, Mr. Eliahu joined the Democratic Movement for Change (Dash). He was inducted as a Knesset member a year later, following the resignation of MK Meir Zorea. He served on the Knesset’s Finance Committee and the Immigration Absorption Committee, and chaired the Knesset’s Subcommittee on capital markets.

In 1978, following a split within Dash, he joined MK Yigael Yadin in the Democratic Movement, which he left in 1980 to form the Ahva movement. Following the dissolution of the Knesset in 1981, Mr. Eliahu decided to retire from politics.

Over the years, Mr. Eliahu entered the world of real estate as well. He built the Eliahu House in Tel Aviv’s Ibn Gabirol Street, and was part of a group of investors who developed the Gan Hair project near the Tel Aviv municipality building. In Haifa, he built a high-rise office building.

In the 1980's, Mr. Eliahu expanded his business ventures further, holding shares in the Phoenix Insurance Company and the Ayalon Insurance Group. He became the primary private shareholder in Bank Leumi, and held the controlling interest in the Union Bank of Israel. In 2012, Mr. Eliahu fulfilled a longtime dream and returned to Migdal, having purchased controlling interest in the company.

Although he is one of the wealthiest men in Israel, Mr. Eliahu has never forgotten his humble beginnings. “The difficulties I went through made me who I am”, he once said in an interview. “These difficulties made me stronger. Riches never interested me.”

Mr. Eliahu is married to Haya and has two daughters and two sons, who hold executive positions in his companies. He serves on the Board of Governors of Tel Aviv University and the Hebrew University of Jerusalem, and is a member of the Board of the Tel Aviv-Yaffo Academic College. Mr. Eliahu holds an honorary doctorate from Tel Aviv University, and was awarded the 2010 Dun & Bradstreet’s Manager of the Year Award for Excellence in Management. In 2012, Mr. Eliahu was honored with the prestigious Worthy Citizen of Tel Aviv title.

As someone who places great emphasis on the education of our future leaders, Mr. Eliahu takes part in Reichman University’s activities, awarding annual scholarships to students as part of his desire to promote youths, and help them become influential members of Israeli society. He has also contributed greatly to the development of Reichman University’s infrastructure.