Article

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.