Israeli billionaire industrialist, former politician and philanthropist Stef (Ze’ev) Wertheimer died Wednesday 26 March 2025 at the age of 98.
Stef Wertheimer was an Israeli billionaire industrialist, investor, philanthropist and politician. He was a member of the Knesset, and was known for founding industrial parks in Israel and neighbouring countries. In 2013, the Wertheimers were described as Israel’s richest family.
Iscar South Africa released the following statement: “It was with deep shock and sadness that we learned of the passing of Stef Wertheimer. One’s first thought is that this should not be – for such a man should have achieved immortality, not been bound by the limits of mere mortals. It is nearly impossible to recount the countless accolades and achievements of this extraordinary man in a single message. A book with many chapters would be needed to truly capture his remarkable journey.”
Stef (Ze’ev) Wertheimer
“I was blessed with the distinct privilege of meeting Stef in 1980 at our then-facility in Nahariya, a moment that marked the beginning of an enduring association. From the very start, what stood out most was his humility, passion, and relentless drive – qualities that set him apart and became the very foundation of Iscar. These values, shared with his Iscar family, remain the cornerstone that transformed a humble beginning into the global success we see today, all shaped by his vision and character.”
“We take pride in saying, ‘We knew him, and we are part of his dream – his vision made real in Iscar. We mourn the passing of a great man whose kindness, wisdom, and unwavering spirit touched so many lives. His legacy of strength and integrity will continue to inspire us all – forever.”
Stef Wertheimer was an Israeli industrialist, entrepreneur, and politician, renowned for founding Iscar, a leading manufacturer of metal cutting tools. Born on July 16, 1926, in Kippenheim, Germany, his family fled to Mandatory Palestine in 1937 to escape Nazism. Wertheimer’s early career involved working with optics, and during World War II, he served as an optical equipment technician in the British Royal Air Force. Post-war, he joined the Palmach (an elite combined strike force and sayeret unit of the Haganah, the underground army of the Yishuv – Jewish community) and later worked on developing cannons for the Haganah.
In 1952, Wertheimer established Iscar in Nahariya, Israel, which grew into a global leader in the industry and attracted investment from Berkshire Hathaway in 2006. By 2013, Warren Buffett’s company acquired full ownership of Iscar. Wertheimer’s business success established him as one of Israel’s wealthiest individuals, with a net worth of $6.3 billion as of 2024.
Beyond his business endeavours, Wertheimer was a visionary in promoting industrial development to foster peace. He founded several industrial parks in Israel and Turkey, advocating for economic cooperation between Jewish and Arab communities. His parks aimed to create jobs, promote education, and enhance community relations, encapsulating his belief that economic stability could mitigate conflict.
Wertheimer also ventured into politics, serving as a member of the Knesset from 1977 to 1981 with the Democratic Movement for Change and later Shinui. Despite stepping away from a political role after an accident in 1981, he remained committed to bridging gaps between Jewish and Arab populations through economic initiatives.
His contributions earned him numerous accolades, including the Israel Prize in 1991 for his societal impact and the Oslo Business for Peace Award in 2010 for ethical business leadership. Wertheimer passed away leaving behind a legacy of industrial innovation and efforts towards peace and coexistence in the Middle East.
