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Yuli Ofer, at 87; Israeli businessman helped build empire

The joint worth of Yuli Ofer, left, and his brother Sammy reportedly ranged from $4 billion to $10 billion. The joint worth of Yuli Ofer, left, and his brother Sammy reportedly ranged from $4 billion to $10 billion. (Associated Press/File 2007)
Associated Press / September 13, 2011

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JERUSALEM - Yuli Ofer, one of Israel’s richest men, has died at 87, just months after the death of his longtime business partner and brother.

Yuli and Sammy Ofer built a sprawling business empire that included holdings in international shipping, real estate, chemicals, and banking. They divided up their assets in recent years, but their joint worth reportedly ranged from $4 billion to $10 billion.

The family released a statement saying Yuli Ofer died at his home Thursday night. Funeral arrangements were not announced.

Mr. Ofer had emigrated from Romania with his family in 1924.

Earlier this summer, the US government sanctioned Sammy Ofer’s company, Ofer Brothers Group, for selling an oil tanker to Iran through a Singapore subsidiary, in violation of US trade restrictions on Tehran.