Dollar-cost averaging 101

December 25, 2011

Dollar-cost averaging 101

Everyone knows the market goes up and down.

A common adage is to “buy low and sell high.” Trouble is, it’s next to
impossible to know exactly what the market will do in the near future.
What’s more, most individuals don’t have the discipline or courage to
try to time the market, says John Markese, president of the American
Association of Individual Investors.

“People who watch the market tend to put money in when it goes up and
never put it in when it goes down. Or if the market’s gone up, they’re
afraid they’ve missed it and they don’t do anything,” says Markese.

That’s where dollar-cost averaging comes in.
“It’s a discipline that reduces risk, not something to get rich quick.”

It’s a technique whereby you invest a set amount of money on a
systematic schedule over the long haul regardless of how the market is
performing. Because you’ve put your investing on autopilot, you’ll end
up with more shares for your money when the market is down. But if
stock prices rise, you wind up with fewer shares.

“It’s a discipline that reduces risk, not something to get rich
quick,” says Markese. “And that’s the whole point. It gets you
started. Don’t worry about where the market is. Start and put money in
on a regular basis, let’s say every month. It’s easy to do.”

In fact, if you’re enrolled in a workplace retirement plan where
earnings are automatically taken from your paycheck, then you’re
already dollar-cost averaging. But you can adopt this strategy outside
your employer’s plan by arranging for funds to be invested in other
types of retirement accounts on a regular basis.

When should I start saving?

December 25, 2011

When should I start saving?

The answer is simple: as soon as you can. Ideally, you’d start saving
in your 20s, when you first leave school and begin earning paychecks.
That’s because the sooner you begin saving, the more time your money
has to grow. Each year’s gains can generate their own gains the next
year – a powerful wealth-building phenomenon known as compounding.

Here’s an example of what a big difference starting young can make.
Say you start at age 25, and put aside $3,000 a year in a tax-deferred
retirement account for 10 years – and then you stop saving –
completely. By the time you reach 65, your $30,000 investment will
have grown to more than $472,000, (assuming an 8% annual return), even
though you didn’t contribute a dime beyond age 35.

Now let’s say you put off saving until you turn 35, and then save
$3,000 a year for 30 years. By the time you reach 65, you will have
set aside $90,000 of your own money, but it will grow to only about
$367,000, assuming the same 8% annual return. That’s a huge difference.

* When should I start saving for retirement?
* Where should I save my retirement money?
* How should I invest the money?
* How should my strategy change as I get older?
* How much money will I need in retirement?
* Will pensions and Social Security be enough?
* How much should I save?
* What if I can’t save enough?
* How can I reduce the amount I’ll need?
* What if I’m running out of time?
* I’m saving a lot but will still fall short – what now?
* When can I retire?

http://money. nt/guide/ basics_basics. moneymag/ index.htm? postversion= 2008090815

Savings to Wealth Or Poverty

December 25, 2011

Savings to Wealth Or Poverty
By Olumuyiwa Johnson


Savings is the act of putting aside, for sometime certain portion or
percentage of your income to either buy an item, prepare for some
unexpected expenses, or for investment purposes. For the purpose of
this write-up, we would be considering savings for investment
purposes. Most people would advice you to save up to 10% of your
income, but taking a look at the biblical story of Joseph in Egypt,
where he saved one fifth or 20% in the year of abundant, which was
their saving grace in the year of famine. I believe there is a divine
wisdom in paying yourself 20% of your income, if you can afford it.


Some people believe that their income is too small, and not sufficient
to meet all their basic needs, so they use this as an reason not to
save. This shows that they do not understand the commandment, you
shall love your neighbour as yourself, and not you shall love your
neighbour more than yourself. Whenever you spend money, you are paying
someone else, rent your landlord, transport fair the owner of the
means of transport, school fees the proprietor and buying food or
cloths the retailer. As you continue to do this, you are helping all
those you paid financially, but when you spend all your income, you
are not helping yourself. It is the little that you pay yourself by
saving, that would empower you (enable) to take advantage of
opportunities, when it they come.

It is the first step out of poverty and rat race. Many people believe
that the first step to wealth is getting a good job or starting a good
business. But what has been discovered overtime is that your expenses
and taste will increase as your income increases, so the only way out
is for you to put a certain portion of your income aside for
investment purpose. Do you know that a seed in your hands today can
become a tree tomorrow, and a tree a forest? Likewise that small
amount of money with you today has the potential of becoming millions
and billions if, it is allowed to grow and multiply with time.


In as much that it is good to save, make sure that it does not exceed
six month before you put it to productive use, if not, the effect of
inflation would reduce the economic value of your savings. No matter
how small your savings is, find something to invest in. All savings
that are not made for investment purpose cannot empower you to create



Savings itself has a spirit, the spirit of being sensitive to
investment opportunities. As you begin to save, you should become more
interested in what in the stock market, real estate and so many other
opportunities offline and on the Internet. Seek for information,
subscribe to some financial journals or site on stock, to get updated
information on investment opportunities, and when necessary please be
prepared paid for such information, proverb 4:7 Wisdom is supreme,
therefore get wisdom, though it cost all you have, get understanding.
As you begin to gather and analyses information on difference
investment opportunities, you will discover that there are some, in
which you could start small, like buying into penny stock. Please do
not wait until you have about half of your monthly income, before you
invest, start small. Continue to do this and watch your investment
grow and grow, until it turns into a well, where you can always draw from.

———— ——— ——— ——— —
Article Source: http://EzineArticle Olumuyiwa_ Johnson

Success Quotes

December 5, 2011

Perseverance, n.: A lowly virtue whereby mediocrity achieves a glorious success.
– Ambrose Bierce

Success for the striver washes away the effort of striving.
– Pindar

The penalty of success is to be bored by people who used to snub you.
– Nancy, Lady Astor

The secret of success is constancy to purpose.
– Benjamin Disraeli

There are few successful adults who were not first successful children.
– Alexander Chase

What is success? To laugh often and much; To win the respect of intelligent people and the affection of children; To earn the appreciation of honest critics and endure the betrayal of false friends; To appreciate beauty; To find the best in others; To leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition; To know even one life has breathed easier because you have lived; That is to have succeeded.
– Ralph Waldo Emerson

If one advances confidently in the direction of his dreams, and endeavours to live the life which he has imagined, he will meet with a success unexpected in common hours.
– Henry David Thoreau

The world belongs to the enthusiast who keeps cool.
– William McFee

Out of every fruition of success, no matter what, comes forth something to make a new effort necessary.
– Walt Whitman

Though a tree grow ever so high, the falling leaves return to the root.
– Malay proverb

Success is that old ABC- ability, breaks and courage.
– Charles Luckman

How can they say my life isn’t a success? Have I not for more than sixty years got enough to eat and escaped being eaten?
– Logan Pearsall Smith

You always pass failure on the way to success.
– Mickey Rooney

Of course there is no formula for success except perhaps, an unconditional acceptance of life and what it brings.
– Artur Rubinstein

High station in life is earned by the gallantry with which appalling experiences are survived with grace.
– Tennessee Williams

Everything bows to success, even grammar.
– Victor Hugo

Never having been able to succeed in the world, he took his revenge by speaking ill of it.
– Voltaire

The successful people are the ones who think up things for the rest of the world to keep busy at.
– Don Marquis

It is no use saying ‘we are doing our best.’ You have got to succeed in doing what is necessary.
– Winston Churchill

Survival is triumph enough.
– Harry Crews

It takes time to be a success, but time is all it takes.
– Anonymous

There is a passion for perfection which you will rarely see fully developed; but you may note this fact, that in successful lives it is never wholly lacking.
– Bliss Carman

Nothing fails like success; nothing is so defeated as yesterday’s triumphant cause.
– Phyllis McGinley

The toughest thing about success is that you’ve got to keep on being a success.
– Irving Berlin

Nothing fails like success because we don’t learn from it. We learn only from failure.
– Kenneth Boulding

Get place and wealth, if possible with grace; If not, by any means get wealth and place.
– Alexander Pope

Success is not so much what you are, but rather what you appear to be.
– Anonymous

I cannot give you the formula for success, but I can give you the formula for failure, which is – try to please everybody.
– Herbert Bayard Swope

Success has made failures of many men.
– Cindy Adams

A successful man is he who receives a great deal from his fellow men, usually incomparably more than corresponds to his service to them. The value of a man, however, should be seen in what he gives and not in what he is able to receive.
– Albert Einstein

Success is not the result of spontaneous combustion. You must set yourself on fire.
– Reggie Leach

Success is the progressive realization of a worthy ideal.
– Earl Nightingale

A great secret of success is to go through life as a man who never gets used up.
– Albert Schweitzer

Failure changes for the better, success for the worse.
– Seneca

Behind every successful man there’s a lot of unsuccessful years.
– Bob Brown

If people knew what they had to do to be successful, most people wouldn’t.
– Lord Thomson of Fleet

The secret of all victory lies in the organization of the non-obvious.
– Oswald Spengler

Snowflakes are one of nature’s most fragile things, but just look what they can do when they stick together.
– Vesta M. Kelly

Damon Runyon. A day-coach boy in a parlor car seat.
– Damon Runyon

There is only one success – to be able to spend your life in your own way.
– Christopher Morley

Find a need and fill it.
– Ruth Stafford Peale

The successful person is the individual who forms the habit of doing what the failing person doesn’t like to do.
– Donald Riggs

The victory of success is half done when one gains the habit of work.
– Sarah Knowles Bolton

The secret of every man who has ever been successful lies in the fact that he formed the bait of doing those things that failures don’t like to do.
– A. Jackson King

Nature gave men two ends-one to sit on, and one to think with. Ever since then man’s success or failure has been dependent on the one he used most.
– George R. Kirkpatrick

Make yourself indispensable and you’ll be moved up. Act as if you’re indispensable and you’ll be moved out.
– Anonymous

What is the recipe for successful achievement? To my mind there are just four essential ingredients: Choose a career you love. … Give it the best there is in you…. Seize your opportunities. … And be a member of the team.
– Benjamin F. Fairless

Vacillating people seldom succeed. They seldom win the solid respect of their fellows. Successful men and women are very careful in reaching decisions, and very persistent and determined in action thereafter.
– L. G. Elliott

Many people have the ambition to succeed; they may even have a special aptitude for their job. And yet they do not move ahead. Why? Perhaps they think that since they can master the job, there is no need to master themselves.
– John Stevenson

I’ve been polite and I’ve always shown up. Somebody asked me if I had any advice for young people entering the business. I said: “Yeah, show up.”
– Tom T. Hall

The wise man puts all his eggs in one basket and watches the basket.
– Andrew Carnegie

I know the price of success: dedication, hard work and an unremitting devotion to the things you want to see happen.
– Frank Lloyd Wright

Success is that old ABC-Ability, Breaks and Courage.
– Charles Luckman

The secret of success in life is for a man to be ready for his opportunity when it comes.
– Benjamin Disraeli

If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imaged, he will meet with success unexpected in common hours.
– Henry David Thoreau

Before everything else, getting ready is the secret of success.
– Henry Ford

To be ambitious for wealth, and yet always expecting to be poor; to be always doubting your ability to get what you long for, is like trying to reach east by traveling west. There is no philosophy which will help man to succeed when he is always doubting his ability to do so, and thus attracting failure. No matter how hard you work for success, if your thought is saturated with the fear of failure, it will kill your efforts, neutralize your endeavors and make success impossible.
– Charles Baudouin

I cannot give you the formula for success, but I can give you the formula for failure, which is-try to please everybody.
– Herbert Bayard Swope

We may fail of our happiness, strive we ever so bravely, but we are less likely to fail if we measure with judgement our chances and our capabilities.
– Agnes Repplier

A double-minded man is unstable in all his ways…. A determinate purpose in life and a steady adhesion to it through all disadvantages are indispensable conditions of success.
– William M. Punshion

The conditions of conquest are always easy. We have but to toil awhile, endure awhile, believe always, and never turn back.
– Marcus Annaeus Seneca
The very first step towards success in any occupation is to become interested in it.
– Sir William Osier

I studied the lives of great men and famous women; and I found that the men and women who got to the top were those who did the jobs they had in hand, with everything they had of energy and enthusiasm and hard work.
– Harry S. Truman
Without ambition one starts nothing. Without work one finishes nothing. The prize will not be sent to you. As to methods there may be a million and then some, but the principles are few. The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble.
– Ralph Waldo Emerson

There are no secrets to success. It is the result of preparation, hard work, learning from failure.
– General Colin L. Powell

Success is blocked by concentrating on it and planning for it…. Success is shy-it won’t come out while you’re watching.
– Tennessee Williams

Three outstanding qualities make for success: judgement, industry, health. And the greatest of these is judgement.
– William Maxwell Aitken

Thirteen virtues necessary for true success: temperance, silence, order, resolution, frugality, industry, sincerity, justice, moderation, cleanliness, tranquility, chastity, and humility.
– Benjamin Franklin

Find a need and fill it.
– Ruth Stafford Peale

Put your heart, mind, intellect and soul even to your smallest acts. This is the secret of success.
– Swami Sivananda

Four steps to achievement: plan purposefully, prepare prayerfully, proceed positively, pursue persistently.
– William A. Ward

Success follows doing what you want to do. There is no other way to be successful.
– Malcolm Forbes

Always aim for achievement, and forget about success.
– Helen Hayes

Success, which is something so simple in the end, is made up of thousands of things, we never fully know what.
– Rainer Maria Rilke

Self-trust is the first secret of success.
– Ralph Waldo Emerson

The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.
– Henry Ford

So once I shut down my privilege of disliking anyone I choose and holding myself aloof if I could manage it, greater understanding, growing compassion came to me.
– Catharine Marshall

The most important single ingredient in the formula of success is knowing how to get along with people.
– Theodore Roosevelt

Remember, the bread you meet each day is still rising. Don’t scare the dough.
– Macrina Wiederkehr

The art of dealing with people is the foremost secret of successful men. A man’s success in handling people is the very yardstick by which the outcome of his whole life’s work is measured.
– Paul C. Packe

The ability to form friendships, to make people believe in you and trust you is one of the few absolutely fundamental qualities of success. Selling, buying, negotiating are so much smoother and easier when the parties enjoy each other’s confidence. The young man who can make friends quickly will find that he will glide, instead of stumble, through life.
– John J. McGuirk

Networking is an enrichment program, not an entitlement program.
– Susan RoAne

Respect for people is the cornerstone of communication and networking.
– Susan RoAne

No matter how much a man can do, no matter how engaging his personality may be, he will not advance far in business if he cannot work through others.
– John Craig

The way to rise is to obey and please.
– Ben Johnson

Skill is fine, and genius is splendid, but the right contacts are more valuable than either.
– Sir Archibald Mclndoe

Whatever your grade or position, if you know how and when to speak, and when to remain silent, your chances of real success are proportionately increased.
– Ralph C. Smedley

That they can strengthen through the empowerment of others is essential wisdom often gathered by women.
– Mary Field Belenky

A man can succeed at almost anything for which he has unlimited enthusiasm.
– Charles M. Schwab

You have to block everything out and be extremely focused and be relaxed and mellow too.
– Jennifer Capriati

I’ve never sought success in order to get fame and money; it’s the talent and the passion that count in success.
– Ingrid Bergman

Flaming enthusiasm, backed up by horse sense and persistence, is the quality that most frequently makes for success.
– Dale Carnegie

Indian top most 50 powerful peoples
November 14, 2009 by The Editor

Lakshmi Mittal richest Indian; Gates tops Forbes list
Dharam Shourie , New York: Steel tycoon Lakshmi Mittal is the richest Indian and Microsoft Corporation Chairman Bill Gates with an estimated net worth of USD 50 billion retains his title as the richest man in the world for the twelfth consecutive year.

According to the Forbes magazine annual survey, Gates fortune increased 7.5 per cent from USD 46.6 billion last year.

The magazine said strong markets around the world contributed to the increase in wealth and the total net worth of the list jumped to USD 2.6 trillion.

Gates is followed by 75-year old investor Warren Buffett of the United States with net worth of USD 42 billion and Mexican telecom magnate Carlos Slim Helu with USD 30 billion and Ingvar Kamprad of Sweden, founder of Ikea, the world’s biggest home furnishing retailer, with USD 28 billion.

Non-resident Indian steel tycoon Mittal finds fifth place among the world’s richest with a net worth of more than USD 20 billion. The 55-year-old dropped two places to fifth with USD 23.5 billion dollars, down USD 1.5 billion.

Azim Premji, who owns 82 per cent of the New York listed Information Technology giant Wipro is second richest Indian with an estimated net worth of 11 billion dollars.

Mukesh Ambani with net worth of 7 billion dollars, army officer turned property baron Kushal Pal Singh (5 billion dollars), Sunil Mittal, who built his Bharti Group into India’s largest mobile phone operator with 14 million customers (4.9 billion dollars) and Kumar Birla (4.4 billion dollars) are among those who find place among the top ten richest persons in India.

Peace of Mind?

March 4, 2011

7 New Skills Every Worker Needs

Rick Newman, On Monday July 26, 2010, 3:55 pm EDT
You’re an expert at something? Hey, congratulations. Now, go become an expert at something else.

Most Americans striving to find or keep a job know the sensation: It’s getting harder to get ahead, and the demands keep intensifying. Everybody knows how the recession destroyed wealth and derailed careers, leaving millions in a hole they’re trying to dig out of. Now we’re beginning to see some of the longer-term changes in the way Americans live and work. Some are distressing, but there’s also plenty of hope for people who are industrious and willing to do what’s necessary to succeed.

Unemployment is obviously far too high these days, and likely to stay that way for a couple of years at least. A prolonged “jobless recovery” is likely to depress incomes, spending, and living standards. But it’s a mistake to assume that there are no good jobs or that Americans must consign themselves to inevitable decline. Despite a damaged economy, good jobs are emerging for people with the right qualifications. And it’s an ineluctable fact of capitalism that wealth can be created by those who are shrewd, determined, or just plain lucky. Even now.

The catch is that success these days requires new skills and a degree of toughness that a lot of Americans lack. A recent survey of big companies by consulting firm Accenture, for example, found that the majority plan to hire over the next two years. But not like before. Like many individuals, firms fear that they’re failing to keep up with technology and falling behind in a ruthlessly competitive marketplace. Only 15 percent of firms in the survey, for instance, felt that their workers have cutting-edge skills. That means they’re interested in hiring talented workers who are able to give them an edge. But few companies plan across-the-board hiring to reverse the mass layoffs of the last three years. Instead, most firms plan targeted hiring to fill their most vital needs–while maintaining a lean payroll in case the economy turns south again.

Specific needs vary by company and industry, of course, but some key commonalities apply to many firms. Here are some of the attributes that workers will need to thrive in an austere economy:

Agility. When the recession hit, a lot of companies discovered that their workforce was poorly configured for a sharp downturn. Many big firms didn’t know enough about their workers’ skills to move people where they were needed, for example, so they ended up cutting staff by arbitrary percentages or axing whole departments. Then they realized that they had fired people they needed, along with others they could do without. Now, as companies rebuild, they intend to fix that problem. That means there will be fewer full-time hires and more temporary workers, even among managers and professionals. Companies will hire people for particular projects, for example, and maybe even offer some of the same benefits that full-time staffers get. But they’ll also retain the ability to quickly downsize without the trauma and expense of a mass layoff. And they’ll move people around more frequently, to best match workers’ abilities with the company’s needs.
Workers will have to get used to less predictable work, more turnover, and careers that could entail several different jobs and even different disciplines. Those who adjust to project-related work without a single, long-term employer could turn out to be appealing hires–and they might learn to enjoy the breaks between jobs. But those who complain about turbulence and insist on a stable, predictable career path could find that nobody’s listening–or offering them a job.

Skill combos. If you’re good at one thing–but only one thing–companies might pass you by. In the Accenture survey, for example, companies said that sales, customer service, and finance were their most important functional areas. But lots of people have that kind of experience, and many of them are unemployed. The way to differentiate yourself–and land that job that 150 people applied for–is to develop and highlight two or three different skill sets, such as IT and strategic planning, or sales and logistics. That will make you more valuable to an employer, especially if they need to shuffle workers around. A 2009 study by consulting firm McKinsey found that the highest earners with the best overall prospects have a combination of valuable skills. That’s especially true in global companies that need technical experts who are also good at managing the complexities of international supply chains or a dispersed staff. The more things you’re good at, the more reasons you give a company to hire you.

Tacit skills. Companies increasingly value intangible qualities that are hard to put on a resume, like informed intuition, judgment under pressure, ease with clients, and problem-solving abilities. These “tacit” or “cognitive” skills tend to come with experience, but they also accrue to people who seek additional responsibility, volunteer for tough assignments, and are willing to take risks. The McKinsey study, for instance, found “an increasing demand for tasks that require human skills complemented by technology.” To build these kinds of skills, work with colleagues who seem to have them and volunteer for projects that will force you to learn new things. To highlight these intangibles for a potential employer, line up references from people who can attest to your tacit abilities and find concrete ways to emphasize how you’ve solved problems or achieved unconventional results.

A broad vision. You might be missing out on a good job simply because you’re looking in the wrong field. Most people tend to look for work in the industry they’re most familiar with, but with sharp downsizing in industries like construction, real estate, retail, and manufacturing, that can be self-defeating. Cathy Farley of Accenture recommends focusing on your skills–not your job or title–and exploring whether you can apply them in a different field. “If you did supply chain management in manufacturing, maybe look in healthcare,” she says. “If you did project management in construction, that could apply in a corporate environment.” Companies might even value the perspective of somebody who comes from a different discipline, but it’s up to you to suggest the fit and explain why it might work.

Analytics. Whatever your field, chances are there are new data-gathering tools to help assess performance and identify opportunities. The explosion of computer programs and other tools for measuring sales, Web traffic, return on investment, and consumer behavior leaves little in business unexamined–including your own performance. In the past, analytics was often the job of data geeks poring over spreadsheets. But it’s becoming everybody’s job, and the more you know about your own performance or that of your division, the more likely you’ll be able to improve it. Training involves the use of spreadsheets and various computer applications, offered through many companies, community colleges, and training centers. Or teach yourself.

Curiosity. It’s not something you’d put on a resume, but an inquisitive mind can help inoculate you against the vicissitudes of a chronically tough job market. “Your greatest defense against what’s happening is to be interested in a wide variety of things and be intrigued by things,” says business guru Tom Peters, author of The Little Big Things and 14 other books. Curiosity, he says, “will lead you instinctively to talk to people you wouldn’t ordinarily talk to, to go farther afield than you might think you should.” That’s the way to find opportunity, especially when many conventional paths to advancement have narrowed or closed.

Self-reliance. It’s becoming apparent that the big institutions that many Americans have relied on for the last 50 years–corporate America, banks, the government–won’t be as supportive in the future. Those who adjust and become more entrepreneurial will be the winners. That means developing more technical skills instead of relying on others, making lots of backup plans, and building a big cushion in case something goes wrong. “Don’t get too dependent on having total continuous employment,” advises Peters. That way, if you end up out of work for a while, it might seem like more of a blessing than a curse. And you’ll know what to do next.

Israel’s 10 richest men and women
By Karin Kloosterman
April 26, 2010

They’ve made their fortunes in shipping, high-tech, diamonds, movies and industry – meet Israel’s 10 richest billionaires.

They are some of the biggest movers and shakers in the Middle East – their wealth and influence extend across the world, to the United States. They’ve built empires from a patch of desert and now sail their luxury cruise ships at will; produce some of Hollywood’s most memorable films; own some of New York’s most important real estate; and build enterprising businesses in shipping, diamonds, high-tech and trade. One even works to promote global democracy.

Meet 10 Israeli billionaires who have made the Forbes Rich List for 2010, along with 793 other billionaires around the world. They join the world’s second-richest man, Bill Gates (Mexican telecommunications mogul Carlos Slim just pushed Gates to second place, beating him by a measly half a billion dollars), who lost $18 million last year, and Warren Buffet, who lost a hefty $25 billion. The world’s richest are no doubt somewhat poorer, like most of us who have lived through the recent financial crisis, but these 10 Israelis along with the others on the list should still have some millions to spare.

ISRAEL21c brings you Israel’s top billionaires and the sources of their fortunes.
1. Sammy Ofer, 88
$4 billion

Sammy Ofer.
He lives in Monte Carlo where all the fabulously rich and famous want to be. Sammy Ofer is an Israeli shipping magnate who is close to the top 100 of the world’s richest people. With a net worth of $4 billion, Ofer – a married father of two sons (Ofer and Idan) – is consistently press shy as he protects his family assets in shipping, banking and real estate.
His firm, the holding company Israel Corporation, is associated with Israel Chemicals. He also owns Zim shipping lines and the Royal Caribbean cruise line.
Knighted by Queen Elizabeth last year, the self-made billionaire owns several Chagall paintings and donates millions to charity, including the National Maritime Museum of Greenwich to which he bequeathed $40 million not long ago, including $3.3 million to help rebuild the world-famous Cutty Sark ship, which burned down in a fire.
Ofer, who was born in Romania in 1922, but emigrated with his family to Mandate Palestine two years later, started his career as a delivery boy for a shipping company. At the start of World War II, he enlisted in the Royal Navy, and during the War of Independence served in the Israeli Sea Corps. He bought his first ship in 1950.

2. Arnon Milchen, 66
$3.6 billion

Arnon Milchen is another self-made billionaire. Born in Tel Aviv in 1944, the London School of Economics graduate also studied at the University of Geneva and went from being a business student and professional soccer player to transforming his father’s fertilizer business into a goldmine.
The married father of four has dealings in agriculture, aerospace, plastics, fiber optics and pharmaceuticals and over the years, through his company New Regency, has been a producer for a number of Hollywood films including War of the Roses, Pretty Woman, Fight Club and Mr and Mrs Smith. Look forward to Knight and Day with Tom Cruise and Cameron Diaz, another Milchen-produced film set to debut this summer.
Milchen is a staunch supporter of Israel and underwrites the Israeli Network, which transmits Israeli TV programming to the US and Canada. Last year he started an anti-terror company to protect friends and colleagues from global terror.

3. Stef Wertheimer, 84
$3.5 billion

Stef Wertheimer.
If there was a list of billionaires who have made a real difference in the world, Israel’s Stef Wertheimer would be in the top 10.
The self-made industrialist billionaire was born in Germany and fled to Israel to escape the Holocaust in 1937. He dropped out of school at the age of 16 and began working in a camera repair shop.
He joined the British Royal Air force as a technician in 1943. Some years later he applied to work for defense company Rafael but was dismissed because of his lack of education.
His strong penchant for tools paid off, however, in 1952 when he started Iscar, a small tool-cutting factory, in the backyard of his home in Nahariya. In 2006, he sold an 80 percent share in Iscar to Warren Buffet for a cool $4 billion.
Wertheimer has built a number of industrial parks in Israel and around the world, including Tefen, which focuses on providing opportunities and jobs to minorities such as Arab Israelis.
The married father of four lives in the Galilee region of Israel and also seeds high-tech companies such as Blades Technology, which produces jet engine blades.

4. Shari Arison, 52
$3.4 billion

Shari Arison.
Look out Oprah! You may be the richest woman in America, but Shari Arison who inherited her fortune from her Israeli-American father Ted Arison, is reputedly the richest woman in the Middle East.
She is certainly the only female billionaire in Israel. Ted made his fortune in America with his company Carnival Cruises that he founded in 1972. Since his passing in 1999 his daughter has shown that she’s no Jewish-American-Israeli princess.
She’s taken hold of the reins, managing her family’s banking assets through the Israeli bank Bank Hapoalim; the infrastructure giant Housing & Construction; cruise ships; and various holding companies.
Last year she founded Miya to develop new water-saving technologies for urban centers and improve the dire situation caused by widespread water loss. Despite a reputation for eccentricity, her businesses don’t seem to have suffered. A divorced mother of four, she lives in Tel Aviv.
5. Alexander Mashkevich, 54
$3.3 billion

Alexander Mashkevich.
With assets in mining and metals Alexander Mashkevich maintains his Israeli citizenship but is reported to live in various residences around the world including Russia.
The married father of two is yet another self-made Israeli businessman, who has built a mining and metals empire in Kazakhstan along with two long-time friends, billionaires Alijan Ibragimov and Patokh Chodiev.
Born in Kyrgyzstan, Mashkevich started out as a literature student at university, becoming a very young dean at age 26. He left academia, however, to pursue business. Active in Jewish causes around the world, he obtained Israeli citizenship early in his life and it’s his Israeli passport that he chooses for travel.
Today he helps run Alferon Management – a company that has acquired mining operations in various countries including Zambia, the Democratic Republic of Congo and Indonesia. He is married with two children.
6. Yitzhak Tshuva, 61
$2.1 billion

Yitzhak Tshuva.
Yitzhak Tshuva. may not be the richest Israeli, but he has made his name in America through his dealings in real estate with the ElAd Group.
Owner of some of America’s most valuable real estate ventures like The Plaza, the self-made billionaire also controls property in Vegas along with partner Nochi Dankner.
Tshuva’s Delek Group, which is publicly traded on the Tel Aviv Stock Exchange, operates more than 200 gas stations in Israel. The company also has interests in car dealerships, cable TV, car insurance and natural gas wells off the coast of Israel.
The Delek Group, listed under Green Venture Capital on the Tel Aviv Stock Exchange, also has interests in multimedia, electronics and some 130 high-tech companies. Tshuva lives in Netanya, Israel, and is the married father of five children.

7. Benny Steinmetz, 50
$1.7 billion

Mining and real estate appear to be on the money mark for Israeli billionaires. Benny Steinmetz acquired his fortune through real estate and mining, notably in diamonds through his company BSG Investments.
The 50-year-old married father of four inherited his fortune and helped it grow as chairman of the Geneva-headquartered Steinmetz Diamond Group, which is De Beers’ largest customer. Supplying diamonds in the rough, Steinmetz has diamond mining licenses in Botswana, the Congo, Sierra Leone and Zambia.
The magnate also has stakes in Nikanor, a holding company that owns copper and cobalt mines in the Congo. He maintains homes in Israel, Africa and Belgium and among his companies are BSGR, involved in natural resources, oil and gas and Five Mounts Properties, a European real estate firm.

8. Lev Leviev, 54
$1.5 billion

Lev Leviev.
Diamonds are clearly a billionaire’s best friend as the Uzbekistan-born Israeli Lev Leviev knows well.
This self-made billionaire now living in London owns Africa-Israel Investments, which runs the company that is the world’s largest supplier and cutter of diamonds.
Leviev immigrated to Israel at the age of 15, and shortly afterwards began work as an apprentice in a diamond polishing plant. After serving in the Israel Defense Forces, he established his own diamond polishing plant and reportedly made his way by under-cutting the De Beers diamond suppliers and making his own deals in countries like Russia and Angola.
He has also invested in major real estate projects in Modi’in Illit, a suburban neighborhood outside Tel Aviv. He is also an investor in shopping malls, energy, fashion, telecom and the media. A golf-lover and philanthropist for Jewish causes, Leviev owns a second home in a Florida beach resort.

9. Michael Federmann, 66
$1.4 billion

Michael Federmann.
Earning second-to-last place on the list of Israeli billionaires is nothing to sniff at. With business in hotels and the defense industry, Michael Federmann is yet another self-made Israeli billionaire appearing on this year’s Forbes list.
Federmann’s $1.4 billion fortune is based on Federmann Enterprises, started by his father and his late uncle. He currently chairs two major companies, the defense technologies company Elbit Systems and Dan Hotels Corporation.
The Dan hotel chain, which started out as a boarding house in Tel Aviv, is now a nation-wide chain of hotels that’s expanding to India. Federmann is married and the father of four children. He lives in Tel Aviv.

10. Morris Kahn, 80
$1 billion

Morris Kahn.
The last Israeli name to make the Forbes cut is Amdocs’ investor Morris Kahn. Amdocs creates billing software that provides solutions for large telecom companies.
Since making his fortune and cashing in his one billion dollars worth of shares, Kahn has been focusing on venture capital financing and philanthropy. A principle investor in Aurim Ventures, Kahn has invested in dozens of companies, including the clean tech water company Atlantium.
Spending most of his time on his 100-foot yacht off the coast of Israel, Kahn has imbued his children with positive values. His son, Benjamin is a marine biologist who was listed as a TIME Magazine hero for his environmental work, on projects that are no doubt supported by the family businesses.

The Kahns also own a string of underwater aquaria and exhibits in Israel, the Bahamas, Hawaii, Spain, the Virgin Islands and Australia through Coral World International, a company co-founded by Kahn senior.