Stef Wertheimer
Photo: David Azagury / U.S. Embassy Tel Aviv, CC BY 2.0, via Wikimedia Commons21

Stef Wertheimer

Israeli industrialist and politician (1926–2025)

Stef Wertheimer (Hebrew: זאב סטף ורטהיימר; 16 July 1926 – 26 March 2025) was an Israeli billionaire industrialist, investor, philanthropist and politician. He was a member of the Knesset, and was known for founding industrial parks in Israel and neighboring countries.2

From Wikipedia’s article on Stef Wertheimer (this version), CC BY-SA 4.0.

Born Jul 16, 1926, died Mar 26, 2025.1

About

In 2013, the Wertheimers were described as Israel's richest family.

From Wikipedia’s article on Stef Wertheimer, shared under CC BY-SA 4.0.2

Companies

Early life and education

Stefan "Stef" (Ze'ev) Wertheimer was born in Kippenheim, Germany, to a Jewish family. His father was a World War I veteran and had lost a leg. The family emigrated to Mandatory Palestine in 1937 to escape Nazism. Most of his extended family emigrated to the United States and Latin America. Those who stayed behind perished in the Holocaust. He studied at the Tel-Nordau School in Tel Aviv. At age 13, he was expelled from school following an altercation with a teacher and started working as an apprentice in an optician's shop. After two years, he became an apprentice in a camera repair shop. Then, after about a year, he started studying optics under Professor Emanuel Goldberg, a researcher and inventor who contributed significantly to different aspects of imaging technology in the first half of the twentieth century. He was one of six students selected by Goldberg to study in a training workshop he established. Simultaneously, he took evening high school classes at the Haskala School for two years.

From Wikipedia’s article on Stef Wertheimer (this version), CC BY-SA 4.0.

Career

Occupation: entrepreneur, politician, philanthropist, industrialist.12

World War II

With World War II underway, the British authorities asked Goldberg to produce compasses, and Wertheimer participated in a failed research project, trying to improve compass production. He left Goldberg's laboratory and worked as a lathe operator, including in a factory at the Tel Litvinsky military base producing parts for jerrycans. In 1943, he was recruited as a civilian contractor for the Royal Air Force upon the recommendation of Professor Goldberg after the British had asked him to recommend them an optical technician. He was sent to an RAF base in Bahrain, where he repaired optical sights and air conditioners on military aircraft and serviced the base's electricity generator. He learned to repair air conditioners and generators by hurriedly reading instruction manuals after his arrival. During his time as an RAF contractor, he also studied engineering at a British institute in Bahrain in his free time. After seven months, he returned to Palestine and resumed working as a lathe operator.

In 1945, he joined the Palmach, where he served as a technical officer in the "German Unit" – a special guerilla force trained with British cooperation to participate in combat operations against the German army, should it reach Palestine. He was arrested by the British during Operation Agatha in 1946 and was detained for four months. In 1947, he began working in the development and improvement of cannons for the Haganah. During the 1948 Arab-Israeli War, he served as a technical officer in the Yiftach Brigade.

Following the war, Wertheimer and his wife briefly lived on kibbutz Yir'on. They left as he did not agree with the socialist economic model adopted by the kibbutz movement. He worked at Israel Military Industries and then at Rafael. In 1952, he was dismissed from his job at Rafael as he lacked a formal engineering degree, which led him to start his own business.

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Business career

In 1952, Wertheimer started his own business in a shack adjacent to his home in Nahariya, a small metal shop and tool-making company called ISCAR. The company quickly became a success and attracted the interest of Discount Investments, who later became a minority investor in the company. Initially it was a supplier to the Israeli defense industry, which was sufficient to provide for his family, but Wertheimer realized that local demand was limited. While Israeli entrepreneurs tended to shy away from foreign markets at the time, Wertheimer recognized that the greatest opportunities were abroad and established relationships with foreign clients. Over time, the company grew from his small workshop into a large multinational manufacturing enterprise. Today, ISCAR is one of the world's largest (by sales) manufacturers of carbide industrial-cutting tools, which are used by carmakers like General Motors and Ford. ISCAR branches exist in dozens of countries worldwide and the company employs over 5,000 people.

In 1968, as part of Israeli efforts to overcome the French weapons embargo after the Six-Day War, Wertheimer founded ISCAR Blades, which later became Blades Technology – one of the largest manufacturers of blades and vanes for jet engines and industrial gas turbines. Wertheimer sold his 51% stake in Blades Technology in 2014 to jet engine maker Pratt & Whitney for an undisclosed amount.

In May 2006, Berkshire Hathaway bought 80% of ISCAR Metalworking Company for $4 billion (the Wertheimers paid $1 billion in taxes to the Israeli government). In May 2013 Buffett bought the rest of Iscar for $2.05 billion.

At the time of his death, Forbes estimated Wertheimer's net worth at US$7.6 billion.

From Wikipedia’s article on Stef Wertheimer (this version), CC BY-SA 4.0.

Personal life

  • BornJul 16, 1926, Kippenheim13
  • CitizenshipGermany, Israel14
  • SpouseLynn Holstein 2007 to 202015
  • Children416

Wertheimer was married with four children and lived in Tel Aviv. His granddaughter is the Israeli actress Maya Wertheimer. In 2018, his son, Eitan Wertheimer, purchased a house for him near Kikar Hamedina in Tel Aviv for 20 million ILS.

On 26 March 2025, Wertheimer died at the age of 98.

From Wikipedia’s article on Stef Wertheimer (this version), CC BY-SA 4.0.

Politics

Political career

In 1977, Wertheimer was amongst the founding members of the Democratic Movement for Change, a new centrist political party. The party was highly successful, winning 15 seats in the 1977 elections, with Wertheimer taking one of the seats. When the party split up in 1978, he joined Shinui. In 1981, following an accident, he resigned from the Knesset (was replaced by Stella Levy) and returned to his business ventures. During his term in the Knesset, he was a member of the Economics Committee. He remained active in bridging gaps between the Jewish and Arab populations of Israel, particularly by boosting Arab participation in the country's high-tech sector.

Prior to the 2013 elections, he took the honorary final slot on Tzipi Livni's new list, Hatnuah. He endorsed her alliance with Labor, the Zionist Union, in 2015.

From Wikipedia’s article on Stef Wertheimer (this version), CC BY-SA 4.0.

Awards

  • 2009Order of Merit of Baden-Württemberg17
  • 2008Buber Rosenzweig Medal17
  • 1991Israel Prize17
  • Date not recordedCommander's Cross of the Order of Merit of the Federal Republic of Germany17