Jews Well Represented on List of the World’s Wealthiest

Stereotypes about Jewish wealth may be greatly exaggerated, but there is no shortage of Jewish billionaires, according to Forbes Magazine.

The publication released its annual tally of the world’s ultra-rich this week, and while Japanese businessmen dominated the top of the list, Jews, especially those from North America, were well represented.

The fourth largest fortune in the world, according to the magazine, belongs to a Canadian Jewish family. Paul, Albert and Ralph Reichmann are said to be worth approximately $8 billion each. The Reichmanns have extensive real estate holdings in both North America and England.

British publishing magnate Robert Maxwell, who recently made an unsuccessful bid for the Jerusalem Post, also made the list, with an estimated worth of $5 billion.

The two richest American Jews listed in Forbes are Samuel and Donald Newhouse, listed as having $2.6 billion each.

Newhouse family holdings include 26 newspapers across the country and the Conde Nast group of magazines.

Other prominent Jewish billionaires include the Bronfman brothers, heirs to the Seagram’s liquor fortune. Edgar, who lives in New York, and Charles, who lives in Montreal, are worth $1.3 and $1.5 billion respectively.

Also on the Forbes list are retailer Leslie Wexner, worth $1.6 billion, and New York real estate baron Samuel LeFrak, at $1.5 billion

Media fortunes were represented, as well. CBS Chairman Laurence Tisch and his brother, Preston, made the list with $1.2 billion each. Walter Annenberg was listed as being worth $1.2 billion.

Indicted junk bond wizard Michael Milken also made the list. The former investment banker for Drexel Burnham Lambert is said to be worth at least $1 billion.

In another Forbes tally, two Israeli banks were listed among the 500 largest foreign public companies. Bank Hapoalim was listed as 271, and Bank Leumi was listed as 318.