Yuli Ofer, one of Israel's richest men, dies at 87

AP News
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Posted: Sep 12, 2011 3:57 AM
Yuli Ofer, one of Israel's richest men, dies at 87

Yuli Ofer, one of Israel's richest men, has died at 87_ just months after the death of his longtime business partner and brother, Sammy Ofer.

The two built a sprawling business empire that included holdings in international shipping, real estate, chemicals and banking. They divided up their assets in recent years, but media have reported their joint worth ranged from $4 billion to $10 billion.

The family released a statement saying Yuli Ofer died at his home Thursday night. Funeral arrangements were not announced.

Ofer had emigrated from Romania with his family in 1924.

Earlier this summer, the U.S. government sanctioned Sammy Ofer's company, Ofer Brothers Group, for selling an oil tanker to Iran through a Singapore subsidiary, in violation of U.S. trade restrictions on Tehran.