Shlomo Eliahu Net Worth

Shlomo Eliahu has an estimated net worth of $3.8 billion, according to Forbes Real-Time Billionaires, Shlomo Eliahu profile (figures as of October 20, 2026). That is up from $1.1 billion in 2011.

Shlomo Eliahu is an Israeli businessman and former politician who built a fortune in insurance and today owns about 45% of Migdal, one of Israel's leading insurance and finance groups. He was born in Baghdad on 18 January 1936.

His life story is a classic immigrant tale. In 1950 he moved from Iraq to Israel with his parents and eight siblings. The family first lived in a ma'abara, a transit camp, at Beit Lid before moving to Kiryat Shalom. He had suffered from polio and so was exempt from military service.

Eliahu also spent time in national politics. He joined the new Democratic Movement for Change in 1977 and entered the Knesset on 15 February 1978 as a replacement for Meir Zorea. He chaired the parliament's finance committee, and in 1980 he co-founded a small party called Ahva, which did not run in the 1981 elections, ending his time in parliament. He is divorced and has four children.

How Shlomo Eliahu made his money

Shortly after arriving in Israel, Eliahu went to work for Migdal, the insurer he would one day control. He was fired in 1953 and became an insurance agent for Binyan. In 1955 he set up his own independent insurance business in the Shapira neighborhood of Tel Aviv, starting as an underwriting agency.

In 1966 he established the Eliahu insurance company, which at first sold only car insurance before expanding into other lines. Over the decades he built it into a major insurer, and he later bought control of Migdal, the company that had once let him go. He has also held a large stake in Bank Leumi and 23% of the Union Bank of Israel. His fortune today rests mainly on his Migdal stake.

How Forbes has valued Shlomo Eliahu

Forbes first listed Eliahu at $1.1 billion in 2011. His figure was $1.4 billion in 2014 and $1.1 billion in 2015. After several years off the list, he returned at $1.3 billion in 2022, then $1.1 billion in 2023 and $1.2 billion in 2024.

His wealth then rose quickly. Forbes valued him at $1.7 billion in 2025 and $3.2 billion on the 2026 World's Billionaires List. As of October 20, 2026, the Forbes real-time billionaires tracker showed $3.8 billion, the highest figure of his record.