Three Local Investors Participate in Warren Buffett’s Israel Bonds Event

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Three Local Investors Participate in Warren Buffett’s Israel Bonds Event

Yehudis Litvak

At an exclusive event hosted by the world-renowned investor and billionaire Warren Buffett in Omaha, Nebraska, three investors from Los Angeles committed to a minimum of a million-dollar investment into Israel Bonds, also known as Development Corporation for Israel (DCI), which underwrites Israeli bonds in the United States. The three local investors are Jeffrey Gross of Beverly Hills, California, Owner of Mickey Fine Pharmacy; Joan Ashton of Beverly Hills, California; and Stanley Black of Beverly Hills, California, Founder of Black Equities. Over 70 investors from the U.S., Canada, and Mexico attended the event, and total of $80 million in Israel Bonds investments was raised.

Warren Buffett, Chairman, President, and CEO of Berkshire Hathaway, has been an ardent supporter of Israel and its economy. “I’ve lived through Israel’s entire 70-year history, and I believe it is one of the most remarkable countries in the world,” he said in a press release. “I’m delighted to own Israel bonds.”

This was the third event that Buffet has hosted with Israel Bonds in the past 18 months, and a second in Omaha. Besides the investors, the event was attended by Israeli dignitaries and members of the diplomatic corps.

Israel Bonds President and CEO Israel Maimon said in a press release, “The Israel Bonds organization has played a significant role in the realization of one of Israel’s most remarkable accomplishments – the building of a robust, resilient economy. Investors the world over, including Warren Buffett, have taken notice.”

Buffett, known as “the Oracle of Omaha” for his knack for profitable investments, commented in a press release, “I have nothing but good feelings about what I am doing. The United States and Israel will always be linked. It is a good thing for Israel that there is an America, and it is a good thing for America that there is an Israel.”

Jeffrey Gross, one of the local investors, has a long history of investing into Israel bonds. His grandparents used to give him Israel Bonds as Chanukah gifts every year. Now, every year when the bonds come up, he is reminded of his grandparents, who are long gone. “It’s truly a gift that keeps on giving,” he says.

Mr. Gross grew up with a special connection to Israel. When asked what he loves about Israel, he responds with a laugh, “What’s not to love?” Starting seven or eight years ago, he and his family have been traveling to Israel every year. “No matter how much you’re there, there is more to learn,” he says. “The amount of history we study in school – even in a religious, Orthodox school – cannot compare to actually being there.”

Investing in Israel Bonds, says Mr. Gross, is “a vote for the state of Israel,” letting its government and citizens know that the Jews in the diaspora care about them. At the same time, he explains, the Israeli economy is booming, and the bonds produce a solid return. The investment is worth it in many ways.