A new ranking has shown Israel’s fiscal resilience on the global stage, despite concerns about the Israeli economy amid the ongoing war against Hamas in Gaza.

The Hurun Report, a research firm based in Shanghai and Mumbai, released its Global Rich List 2024 this week, ranking the world’s billionaires. According to the findings, Israel broke into the top 20 countries for the ultra-wealthy, ranking 18th on the list, with a total of 29 billionaires calling the Jewish State their home.

Israel beat out regional rivals Turkey and the United Arab Emirates, which are ranked 20th and 22nd, respectively.

Leading the list of Israel’s billionaires is Miriam Adelson, with a fortune estimated at $35 billion, making her the 36th wealthiest person globally. Miriam is the widow of Sheldon Adelson, a casino mogul and a prominent pro-Israel philanthropist. The Ofer family, known for their investments in real estate and shipping, also features prominently among Israel’s richest.

Israel’s economic resilience has indeed been remarkable, even with the war with Hamas that has drained the economy. Strategists believe Israel’s relatively low national debt and foreign currency reserves have helped mitigate the impact. The Organization for Economic Co-operation and Development (OECD) projects Israel’s economy to grow by 3.3% in 2024, reflecting steady progress from the 2.9% growth experienced the previous year.

Comments (0)