Buffett: World must know about Israeli wonder

Tuesday, September 19, 2006 |  by Staff Writer
In a meeting with Prime Minister Ehud Olmert Monday evening, American business mogul Warren Buffett expressed his amazement with the Israeli economy and its people, saying the entire world must know about the wonder which is in Israel.

“The world needs to know about the Israeli wonder. This is simply unbelievable. It does not resemble anything I have ever seen. This is an extraordinary business, operated by extraordinary people. We are happy to be partners here,” Buffett said.

Buffett, who acquired the Israeli ISCAR factory for $4 billion in May of this year, said that this is the first time he has found a business which he truly loves.

According to Buffett, this is his first investment in a company outside the United States. Prime Minister Ehud Olmert thanked Buffett for the large investment and for the trust he places in the Israeli economy, and encouraged him to invest in more projects in Israel. “Israel is open for investment. In terms of taxation levels, Israel is in a very competitive place compared to other places in the world, including Ireland.

Olmert praised ISCAR’s founder Stef Wertheimer, and said that he had set a precedence by establishing this kind of project and thereby helping the entire region without government assistance. “Stef is not an easy person, but he is the most honest man you could ever meet. He is a man of vision,” Olmert told Buffett.

Buffett promised that ISCAR will continue to operate in Israel, and that the last thing he wants to do is interfere with their work.

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