Warren Buffett is a fan of Israel, and he’s not only saying it – he’s opening his wallet and encouraging other millionaires and billionaires to invest in the country.
According to the Jerusalem Post, Buffett will meet with fellow businessmen in New York on Thursday, pressing them to buy up to $140 million in Israeli government bonds collectively.
He owns $5 million of Israel’s sovereign debt, and he think it’s a financially lucrative and morally worthwhile business move. He’s also held previous events in his native Omaha, Nebraska to encourage Israel bond purchases.
“The purchase of Israel bonds is a sound investment and a deserved endorsement of a remarkable country,” Buffett said, according to the Jerusalem Post.
“Israel started from absolute scratch when it was established 69 years ago, and look where it is now,” he continued. “There is no other country in the world that has gone as far in such a short period… I like backing winners and am happy to own the bonds of Israel.”
Buffett’s investing advice is seen as stock market gospel, considering his record success in turning his Berkshire Hathaway firms into one of the world’s most powerful global corporations.
Israel Bonds: Sage Of Omaha’s Latest Investment Tip
Daniel J. Solomon is the former Assistant to the Editor/News Writer at the Forward. Originally from Queens, he attended Harvard as an undergraduate, where he wrote his senior thesis on French-Jewish intellectual history. He is excited to have returned to New York after his time in Massachusetts. Daniel’s passions include folk music, cycling, and pointed argument.