Former Israeli PM Naftali Bennett's Wealth Estimated at Over $100 Million
Translated & summarized from Now 14 by baba
Economic commentator Avitar Ben Porat detailed the significant wealth of former Israeli Prime Minister Naftali Bennett, estimated by Forbes Israel in 2021 at around 100 million shekels. Bennett's wealth stems from successful tech exits, including the sale of Cyota for $145 million and Soluto for millions, as well as lucrative investments. A notable investment of 250,000 shekels in Payoneer reportedly grew to $5 million. His family home in Ra'anana also saw its value more than double.
The story in 5 lines · by baba
- Former Israeli PM Naftali Bennett's wealth was estimated at approximately 100 million shekels in 2021.
- Bennett earned millions from tech company exits, including Cyota and Soluto.
- A 250,000 shekel investment in Payoneer reportedly grew to $5 million.
- His family home in Ra'anana is valued at approximately 17 million shekels.
- Bennett has returned to the business world post-premiership, joining tech company boards.
Economic commentator Avitar Ben Porat presented an analysis of former Israeli Prime Minister Naftali Bennett's wealth on the program "The Operating Table," detailing significant earnings from tech exits and investments. According to a 2021 estimate by Forbes Israel, Bennett's net worth was approximately 100 million shekels (around $27 million USD at the time), a figure Ben Porat suggested may have grown since. Ben Porat highlighted Bennett's early career in the tech industry, including co-founding the cybersecurity company Cyota in the late 1990s. This company was sold to RSA in 2005 for about $145 million, with Bennett's personal share estimated at $5 million.
Further investments and roles followed. Bennett joined the startup Soluto in 2009, serving briefly as CEO, and his options from its 2013 sale reportedly yielded an additional $3 million. He also invested in younger companies, including WazeTamp, sold in 2019 for an estimated $2.5 million to Bennett, and notably, a 2008 investment of just 250,000 shekels (around $70,000 USD) in the fintech company Payoneer. By 2021, when Payoneer went public on Wall Street at a valuation of $3.3 billion, Bennett's stake was estimated at $5 million.
Ben Porat calculated that Bennett's disclosed deals and investments totaled over $13 million, though these are estimates and not necessarily fully realized cash amounts. Beyond his tech ventures, Bennett's family home in Ra'anana, purchased in 2007 for about 8.3 million shekels, was valued at approximately 17 million shekels in 2021, more than doubling its purchase price.
Following his term as Prime Minister, Bennett returned to the business world, joining the boards of three technology companies. Ben Porat noted that compensation in startups often involves stocks and options, which can lead to substantial future profits, even if direct salary details are not public.
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