Billionaire businessman and shipping mogul Yehuda (Yuli) Ofer, of the Ofer Brothers Group, passed away on Sunday night at the age of 87, three months after the death of his brother, Sammy Ofer
Billionaire businessman and shipping mogul Yehuda (Yuli) Ofer, of the Ofer Brothers Group, passed away on Sunday night at his Herzliya home. He was 87-years-old. His death was announced by his family. It came three months after the death of his brother and longtime business partner, Sammy Ofer, at the age of 89.
The Ofer brothers built a business empire that included holdings in international shipping, real estate, chemicals and banking. Ofer was the primary shareholder in the Ofer Brothers conglomerate, better known as Israel Corp. Israel Corp holds the controlling interest in some of Israel's largest companies, including Israel Chemicals, Zim Shipping and the Mizrahi-Tefahot Bank. Their joint worth has been estimated at US$4 billion to US$10 billion.
Yehuda Ofer was born in Romania and emigrated to Israel with his family. He and his brother entered the shipping business in the 1950s. An announcement released by the family said, "Yuli was a people's person. He loved them and invested in them, and they loved him and invested in him. Yuli was sensitive to every private and public stirring, and he was endowed with an infinite capacity to give to his family, his friends, and his surroundings. Yuli is survived by his wife, Ruth, his daughter, Liora, and his son, Doron, as well as grandchildren and great-grandchildren. "May his memory be a blessing."
Earlier this year the United States government imposed penalties on Sammy Ofer’s company, the Ofer Brothers Group, for selling an oil tanker to Iran through a Singapore subsidiary, in violation of United States trade restrictions on Tehran. Last Tuesday the State Department removed the Ofer Holdings Group from the sanctions list, and the family was not considered responsible for the business decisions.
