Mikey Federmann: Chairman of Elbit Systems and Dan Hotels with NIS 35 Billion Family Fortune
Mikey Federmann, chairman of Elbit Systems and Dan Hotels, oversees a family fortune of NIS 35 billion, largely derived from a 42% stake in the defense company, which boasts a record order backlog of $25.2 billion. Despite the strong performance of Elbit, Dan Hotels has faced challenges with stagnant revenue and a loss of NIS 18 million due to declining tourism. At 80, Federmann remains connected to the hospitality sector, reflecting the family's historical ties to the industry.
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Mikey Federmann, chairman of Elbit Systems and Dan Hotels, has a family fortune valued at NIS 35 billion. His wealth primarily stems from a controlling interest in Elbit Systems, a leading Israeli defense company, alongside the Dan Hotel chain he manages.
The Federmann family originally gained a 32.5% stake in Elbit through a merger and Mikey later acquired additional shares, bringing the family's ownership to 42%, currently valued at NIS 32 billion. Elbit's recent financial performance includes a record order backlog of $25.2 billion, boosted by a $2.3 billion undisclosed contract reportedly with the UAE.
In contrast, Dan Hotels reported stagnant revenue and a loss of NIS 18 million amid a decline in tourism due to recent conflicts. Federmann, who retired from active roles at age 80, remains closely connected to the hospitality business, reflecting the family's foundational ties to tourism.
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