David Azrieli Net Worth – How Much is David Azrieli Worth?

David Azrieli, a Canadian-Israeli business entrepreneur, real estate developer, architect, and philanthropist, was a prominent figure in the industry. He founded the Azrieli Group and achieved remarkable success throughout his career. With his contributions to the real estate sector, David Azrieli amassed an estimated net worth of $3.1 billion as of March 2013.

As the founder of the Azrieli Group, David Azrieli played a pivotal role in shaping the company’s growth and success. The Azrieli Group is recognized as one of the largest real estate companies in Israel, with a diverse portfolio of commercial centers, office projects, and other real estate ventures.

David Azrieli’s business acumen and innovative vision made him a highly successful entrepreneur. His dedication to excellence and strong leadership led the Azrieli Group to become a powerhouse in the industry, known for its innovative developments and commitment to quality.

In addition to his business achievements, David Azrieli was deeply committed to philanthropy. He established the Azrieli Foundation, which supports various charitable causes, including educational initiatives, medical research, and Holocaust commemoration. Through his foundation, David Azrieli left a lasting impact on society, positively influencing countless lives.

Key Takeaways:

David Azrieli had an estimated net worth of $3.1 billion as of March 2013.
He founded the Azrieli Group, one of the largest real estate companies in Israel.
David Azrieli’s philanthropic efforts through the Azrieli Foundation had a significant impact on education, medical research, and Holocaust commemoration.
His innovative vision and strong leadership contributed to the success of the Azrieli Group and its reputation for excellence in the real estate industry.
David Azrieli’s legacy continues to inspire future generations of entrepreneurs and philanthropists.

Early Life and Education

David Azrieli, a prominent figure in the world of architecture and real estate development, was born on May 10, 1922, in Maków Mazowiecki, Poland. Coming from a Jewish family, Azrieli’s upbringing was deeply rooted in rich cultural heritage and traditions.

During the tumultuous period of World War II, Azrieli faced unimaginable hardships as a Holocaust survivor. Determined to escape the horrors of the war, he embarked on a perilous journey, eventually finding refuge in British Mandate Palestine in 1942.

Azrieli’s resilience and bravery were further demonstrated when he participated in the 1948 Arab-Israeli War, fighting for the establishment of the State of Israel. His firsthand experiences during these tumultuous times shaped his worldview and influenced his future endeavors.

Driven by his passion for architecture, Azrieli pursued his studies at the prestigious Technion-Israel Institute of Technology. Although he did not complete his architectural education at this time, his desire to learn and grow in the field remained unwavering.

Years later, Azrieli fulfilled his aspirations by earning a Master of Architecture degree from Carleton University in Montreal, Canada. This educational achievement solidified his expertise as an architect and set the stage for his remarkable career.

The early life and education of David Azrieli laid the foundation for his future success as a visionary entrepreneur and acclaimed architect.

Key Points:

David Azrieli was born in Maków Mazowiecki, Poland to a Jewish family.
He escaped the Holocaust and arrived in British Mandate Palestine in 1942.
Azrieli fought in the 1948 Arab-Israeli War.
He studied architecture at Technion-Israel Institute of Technology.
Later, he earned a Master of Architecture degree from Carleton University in Montreal, Canada.

Business Career and Achievements

David Azrieli’s business career began in Montreal, where he established Canpro Investments Ltd. He started with small construction projects such as duplexes and gradually expanded into larger ventures, including apartment buildings and shopping malls. The Azrieli Group, based in Tel Aviv, became one of his notable companies, focusing on real estate development.

The Azrieli Group has undertaken numerous real estate projects, including the development of shopping malls, office buildings, industrial structures, and energy distribution companies throughout Israel. Known for their expertise in the industry, the Azrieli Group has played a significant role in shaping the country’s skyline and urban landscape.

Azrieli’s architectural masterpiece, the Azrieli Center, stands as a testament to his vision and impact on Israeli business activities. Located in the heart of Tel Aviv, the Azrieli Center showcases three iconic skyscrapers that serve as prominent landmarks and hubs for commerce and finance.

Philanthropy and Legacy

David Azrieli’s commitment to philanthropy led him to establish the Azrieli Foundation in 1989. The foundation has been instrumental in supporting various educational initiatives, medical research, Jewish appreciation, and Holocaust commemoration. Through its generous contributions, the Azrieli Foundation has had a profound impact on numerous individuals and communities.

One of the key areas of focus for the foundation is education. It has played a vital role in establishing schools, institutes, and programs that promote excellence in various fields of knowledge. By investing in education, the Azrieli Foundation aims to empower individuals and contribute to the advancement of society.

Another significant aspect of the foundation’s work is its support for medical research. The Azrieli Foundation has provided substantial funding for groundbreaking research projects, aiming to improve the understanding and treatment of various medical conditions. Through its investments in medical research, the foundation strives to make a lasting impact on global healthcare.

Jewish appreciation is another core pillar of the Azrieli Foundation’s mission. The foundation is dedicated to preserving and promoting Jewish culture, heritage, and values. It supports initiatives that foster Jewish education, art, literature, music, and community engagement.

Furthermore, the Azrieli Foundation is deeply committed to Holocaust commemoration. It recognizes the importance of remembering and honoring the victims and survivors of the Holocaust. Through its initiatives, the foundation works to preserve the memory of the Holocaust and ensure that its lessons are never forgotten.

The Azrieli Foundation’s contributions have been significant, with over CAD $450 million disbursed over the years. Its philanthropic efforts continue to make a meaningful difference in the lives of countless individuals and communities.

The Azrieli Foundation’s Impact:

Establishment of schools, institutes, and programs promoting excellence in education.
Funding groundbreaking medical research projects.
Support for Jewish education, art, literature, music, and community engagement.
Preservation and commemoration of the Holocaust.

Personal Life and Family

David Azrieli led a fulfilling personal life alongside his successful business career. He was married to Stephanie Lefcort for 57 years and together they had four children: Rafael, Sharon, Naomi, and Danna.

Throughout their marriage, David and Stephanie enjoyed spending time at their picturesque lake house in Ivry-sur-le-Lac, Quebec. Surrounded by the tranquil beauty of nature, the lake house provided a serene retreat for the Azrieli family.

Although they cherished their time in Quebec, David and Stephanie also had a residence in Herzliya, Israel, where they spent a significant amount of time.

Tragically, David Azrieli passed away on July 9, 2014, at the age of 92, at his beloved lake house in Quebec.

Azrieli Group’s Success

Under David Azrieli’s leadership, the Azrieli Group has established itself as the largest real estate company in Israel. Known for its exceptional commercial centers, the company has made significant contributions to the Israeli real estate industry.

Commercial Centers
Azrieli Group Stock
Office Projects

The first enclosed mall in Israel, Canion Ayalon in Ramat Gan
Azrieli Group stock stands as a symbol of its success in the market.
The Azrieli Group has been involved in major office projects throughout the country.

The Jerusalem Shopping Mall in Malha

The Beer Sheva Shopping Mall in Beersheba

In 2010, the Azrieli Group made history when it went public with the largest initial public offering (IPO) in the Tel Aviv Stock Exchange. The success of the Azrieli Group’s IPO is a testament to its strong market position and investor confidence.

The company also owns significant stakes in Bank Leumi Le-Israel Ltd., one of Israel’s largest banks, further diversifying its portfolio and contributing to its success.

Moreover, the Azrieli Group’s involvement in major office projects throughout the country has played a vital role in shaping the Israeli business landscape.

With a strong foundation built by David Azrieli, the Azrieli Group continues to thrive and expand its presence in the Israeli real estate market. Its dedication to quality and innovation has solidified its position as a leader in the industry.

Azrieli Foundation’s Impact

The Azrieli Foundation, established by David Azrieli, has had a profound impact on various sectors, including education, medical research, Jewish education, and support for Holocaust survivors. Through its dedicated efforts, the foundation has initiated and funded numerous programs and initiatives that have empowered individuals, fostered excellence, and brought about positive change.

One of the primary areas of focus for the Azrieli Foundation is education. Recognizing the importance of education in shaping individuals and communities, the foundation has invested in the creation of educational programs that provide opportunities for personal growth and academic success. These programs range from scholarships and grants to the establishment of schools and institutes that promote excellence in education.

The foundation’s commitment to medical research is another vital aspect of its work. By supporting groundbreaking medical research projects, the Azrieli Foundation strives to advance scientific knowledge and improve healthcare outcomes. Through its funding, researchers have been able to explore innovative solutions to various medical challenges, ultimately benefiting individuals and society as a whole.

Furthermore, the Azrieli Foundation is deeply committed to Jewish education. It recognizes the importance of preserving Jewish heritage, promoting cultural understanding, and nurturing future generations of Jewish leaders. To fulfill this mission, the foundation supports a wide range of Jewish educational initiatives, including the establishment of schools, cultural centers, and programs that promote Jewish values and traditions.

Perhaps one of the most significant contributions of the Azrieli Foundation is its support for Holocaust survivors. Recognizing the immense suffering endured by Holocaust survivors and the importance of preserving their stories, the foundation has developed programs and initiatives aimed at honoring and supporting survivors. These initiatives include financial assistance, psychological support, and access to essential services, ensuring that Holocaust survivors are respected and cared for in their later years.

In response to the global COVID-19 pandemic, the Azrieli Foundation swiftly took action to support those most affected. It created an emergency fund and pledged CAD $8.6 million towards pandemic-related initiatives. These initiatives encompassed food relief programs, support for hospitals and long-term care institutions, and assistance to vulnerable communities. The foundation’s compassionate response during these challenging times exemplifies its commitment to social responsibility and community well-being.

The Azrieli Foundation’s impact extends far and wide, touching the lives of individuals and communities alike. Through its dedication to education, medical research, Jewish education, and support for Holocaust survivors, the foundation continues to leave a lasting legacy that promotes positive change and empowers future generations.

Controversies

Throughout his career, David Azrieli was involved in a few notable controversies that garnered attention. These controversies shed light on the intersection of business, politics, and heritage preservation.

Demolition of Van Horne Mansion

One controversial event was the demolition of the historic Van Horne Mansion in Montreal to make way for the construction of the Sofitel Montreal. The Van Horne Mansion, a grand heritage building, had a rich history and was considered an architectural gem. The decision to tear down the mansion sparked opposition from groups advocating for the preservation of historical landmarks.

“The demolition of the Van Horne Mansion represents a loss for our cultural heritage and a missed opportunity to preserve the city’s architectural history,” said Sarah Lewis, a local preservation activist.

Despite efforts to save the mansion, Azrieli defended the decision, stating that the new development would bring vibrancy and economic growth to the area.

The controversial demolition of the Van Horne Mansion highlights the ongoing tension between development and heritage preservation in urban landscapes.

Donation to the Im Tirtzu Movement

Another controversy surrounding David Azrieli was the Azrieli Group’s donation to the Im Tirtzu movement. Im Tirtzu is a right-wing organization in Israel that aims to combat the academic boycott of Israel. The donation raised concerns about the Azrieli Group’s political involvement and its alignment with the movement’s objectives.

“The Azrieli Group’s support for the Im Tirtzu movement has raised questions about the company’s political agenda and potential impact on academic freedom,” said Rachel Cohen, a social activist.

While some applauded the donation as a demonstration of support for Israel, others criticized it as an attempt to influence academic discourse.

These controversies underscore the complex dynamics that can arise when business interests intersect with heritage preservation and political causes.

Awards and Recognition

David Azrieli’s remarkable contributions and achievements have been acknowledged with prestigious awards and recognition throughout his life. His commitment to excellence and dedication to various fields of endeavor have earned him esteemed honors, highlighting his significant impact and lasting legacy.

Notable awards and honors bestowed upon David Azrieli include:

Member of the Order of Canada
Chevalier of the National Order of Quebec

David Azrieli’s exceptional accomplishments have also been recognized by renowned institutions, granting him honorary doctorates in recognition of his outstanding contributions:

Concordia University
Yeshiva University
Technion-Israel Institute of Technology
Tel Aviv University

These esteemed honors and accolades demonstrate the profound impact David Azrieli has made in the realms of business, philanthropy, and architecture.

Award
Institution

Member of the Order of Canada
—

Chevalier of the National Order of Quebec
—

Honorary Doctorate
Concordia University

Honorary Doctorate
Yeshiva University

Honorary Doctorate
Technion-Israel Institute of Technology

Honorary Doctorate
Tel Aviv University

Published Works

David Azrieli, a prominent Canadian-Israeli entrepreneur and philanthropist, has left a lasting impact through his published works. Two notable books in his collection are “One Step Ahead: David J. Azrieli (Azrylewicz): Memoirs 1939-1950″ and “Rekindling the Torch: Story of Canadian Zionism.”

“One Step Ahead” is an autobiography that offers a fascinating glimpse into Azrieli’s experiences during World War II and his arduous journey to Palestine. From surviving the Holocaust to rebuilding his life, Azrieli’s memoirs provide a personal and poignant account of resilience and determination.

In “Rekindling the Torch,” Azrieli delves into his significant contributions to the Canadian real estate industry. The book highlights his visionary leadership and innovative approaches that shaped the landscape of the country’s real estate sector. Azrieli’s entrepreneurial spirit and immense success leave an indelible mark on the Canadian business landscape.

Through his memoirs and exploration of Canadian Zionism, David Azrieli reveals his unwavering commitment to preserving Jewish heritage and supporting the community. His works serve as a source of inspiration and motivation, showcasing the power of determination, philanthropy, and entrepreneurial vision.

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