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A billion shekel industry per year, a “richest of” list topped by a man worth more than $335 million (1.3 NIS), and no risk of paparazzi. Being an Israeli rabbi can have it perks. Forbes Israel recently released its list of the top 10 richest Rabbi’s in Israel, with Rabbi Pinchas Abuhatzeira coming in at the top of the list. Haaretz describes him as “young and relatively unknown rabbi, who essentially became a tycoon” after inheriting money following the death of his father.
With most of the accumulated wealth funneled into non-profit organisations, the Israel Tax Authority has trouble following all the money, the Times of Israel reports. The real net worth of the Rabbi’s (and the industry as a whole) may actually be even higher.
While donations from businesspeople are one source of revenue for the Rabbis, they are not the only one. Rabbi David Hai Abuhatzeira, No. 2 on the list with a net worth over $190 million (and the uncle of Pinchas Abuhatzeira), is considered a financial expert, with real estate holdings and stock investments around the world.
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