Ted Arison
73-year-old Arison was born in Israel to a family of long standing in Zichron Yaakov. In childhood, he and Leah Rabin were close neighbours. During the War of Independence, Arison served a signals officer in 7th Brigade. In the early 'fifties, he settled in the United States where he began to develop his business activity. Forbes rates Arison as the world's wealthiest Israeli, with an asset value of more than $2 billion.
In the United States, Arison built his biggest and most profitable business, Carnival Cruise, considered the biggest cruiser line in the world. Carnival Cruise is traded on Wall Street at a value of $10.5 billion, of which the Arison family holds 48%. At the end of June 1997, the company's equity amounted to $3.2 billion, and its half-year profit reached $213 million. In 1996, Carnival Cruise earned $566 million.
In late 1996, Arison sold 10% of his shares in the company in consideration of a $950 million cash package. As early as 1990, Arison decided to resign and hand over the routine management of Carnival Cruise to his son Mickey. His two sons, Mickey and Michael, run the family's business in the United States while his daughter Cheri, who manages the Arison Foundation, lives in Israel.
Apart from Carnival Cruise, the Arisons are also active in real estate and agriculture in the United States. One of Arison's most interesting investments was in the Miami Heat basketball team.
Arison operates in Israel via Arison Investments, founded in 1992. The company is managed by Shlomo Nehama, 42, who also holds 5% of the shares.
Acquisition of control in Shikun u'Binui was undoubtedly the most successful deal Arison has executed to date in Israel. Signed in mid-1996, the deal conferred on Arison control in Israel's biggest real estate company for a relatively minor investment of NIS 49 million. The Workers Society sold Arison control in Shikun u'Binui in an intricately structured transaction, which included the allocation of shares and loans to the company's employees, financed by Arison. Shikun u'Binui has a payroll of more than 4,000, earns some NIS 100 million annually, and chalks up a turnover of NIS 2.5 billion annually. Solel Boneh, principal contracting arm for Shikun u'Binui, was floated last year on the Tel-Aviv Stock Exchange and the parent company is expected to be issued shortly.
Apart from Shikun u'Binui, Arison holds investments in a number of construction firms: Orbond (gypsum walls), Nirlet (paint and sealants) and the TASE company Secom Israel (real estate). In the hi-tech field, Arison has an investment in a partnership with the IBI brokerage firm and another partnership with Elta.
Arison has also invested in Eurocom Telecommunications (30%) and in the TASE company Ham-Let (Israel-Canada)(9%).
Some hint of the close ties between Dovrat Shrem and Arison may be gleaned from a series of investments executed by Arison (together with Claridge) in companies managed by Dovrat Shrem. The two bodies each invested tens of millions of dollars in the Polaris 2 venture capital fund, in Urdan, in Leader, the underwriting firm, and in investment funds.
Len Abramson
Abramson, a personal friend of Arison's, established American Healthcare, one of the biggest health insurance companies in the United States. About eighteen months ago, he merged it with Athena, likewise a major US insurance firm. The merger netted Abramson about a billion dollars in cash and a share package worth several billion dollars in the merged company.
Hyperion
This investment firm specialises primarily in investments in banks and financial institutions.
Michael Steinhardt
Steinhardt is considered one of Wall Street's most successful fund and hedging fund managers. About two years ago, Steinhardt dumbfounded Wall Street when, in the midst of one of the US stock exchange's most halcyon periods (still continuing), he announced he was pulling out of market dealings, closing his funds and returning the $2.8 billion under his management to his investors. 56-year-old Steinhardt and his partner, Shimon Topor, have investments in Israel in Maritime Bank (from which he will part if the Arison group wins Bank Hapoalim) and in Macpell textile works. Topor worked at Bank Hapoalim and served as chairman of Continental.
Two clouds overhung Steinhardt's successful financial career on Wall Street. The first was the heavy losses occasioned his investors in 1994 following an abortive gamble on European bonds, and the second his involvement in the seeming manipulation of the US government bonds market in 1991. Steinhardt decided to pay out more than $70 million in fines so as to close the affair. The charge brought against him at the time, by the US SEC, was that, together with other investors, including the mammoth brokerage firm Salomon Brothers, he had mounted a dawn raid on the government bond issue in order to peg bond prices.
Dankner group
The Dankner family controls the public companies Dankner Investments, Salt Industries and Dor Chemicals. The activity of these companies includes some of Israel's biggest real estate business, industry, telecommunications (the Matav cable television company), and energy. The company also controls Carmel Chemicals, the Dor Energy fuel company and the DorGas gas company. Altogether, these represent a market value of NIS 700 million.