Israeli billionaire industrialist and former Knesset member Stef Wertheimer died Wednesday at the age of 98.
He was born in Kippenheim, a village in southwest Germany near the French border, in 1926.
Wertheimer fled with his family to Israel in 1937 to escape growing Nazi persecution.
He served in the British Army from 1943, including active service during World War II, before joining the Palmah and the IDF during the War of Independence.
Wertheimer was involved in initiatives in the fields of education, economy, and government integrity, and also served as an MK for the Democratic Movement for Change.
Business success
In 1952, he founded a tool-making company called ISCAR (a portmanteau of Israel Carbide) in his backyard in Nahariya.
In 2006, Warren Buffett's Berkshire Hathaway purchased 80% of ISCAR for $4 billion, with Buffett buying the remaining 20% of the company for $2.05 billion in 2013.
In January 2024, Forbes valued the Wertheimer family's wealth at $6.3 billion.
First interview with the 'Post'
In March 1968, The Jerusalem Post's Ya'acov Ardon interviewed Wertheimer to discuss ISCAR's success in an article titled "Israel CAN do it, says young manager."
"I believe industry is possible here just as in Switzerland, and ISCAR bears me out," he told the Post.
"We have rigid quality control and our workers learn what precision means," he added.
When discussing problems at the time, Wertheimer told the Post, "We're still a non-industrial country in our outlook. There are not enough incentives to draw youth into industry, into production."
"We need skilled and gifted young people, and can't get them," he added.
"Worse still, the prevailing outlook trains young people in the wrong direction," he commented.
Recognition during his lifetime
Wertheimer received several prizes and awards for his success during his lifetime.
In 1991, he was awarded the Israel Prize, the highest civilian honor of the State of Israel, for his "special contribution to society and the State of Israel."
In 2008, he was awarded the Buber-Rosenzweig-Medal, an annual prize by the German Coordinating Council of Societies for Christian-Jewish Cooperation to individuals who have "actively contributed to Christian–Jewish understanding."
In 2010, he was awarded the Oslo Business for Peace Award, which is given to leaders in the private sector who have demonstrated transformative and positive change through ethical business practices.
In 2014, he was awarded the Israel President's Medal by then-president Shimon Peres.
Responses to his passing
Israel President Isaac Herzog called Wertheimer "a pioneering entrepreneur and industrialist, who left a huge mark on the Israeli economy and was one of the first to place the blue-and-white industry on the world map."
He "opened his broad and generous heart to contribute to Israeli society, to its diverse communities and avenues." Herzog added.
בכאב רב אנו נפרדים מסטף ורטהיימר, יזם ותעשיין פורץ-דרך, אשר הותיר חותם עצום על הכלכלה הישראלית והיה מהראשונים להציב את התעשייה כחול-לבן גם על מפת העולם.כל מי שהכיר את סטף ידע כי מדובר, בראש ובראשונה, בפטריוט ישראלי במלוא נימי נפשו: הפלמ"חניק שנטל חלק בפעולות חבלה נגד הבריטים…
— יצחק הרצוג Isaac Herzog (@Isaac_Herzog) March 26, 2025
Prime Minister Benjamin Netanyahu called him "a man of industry, vision, and the Land of Israel," adding that he was "one of the builders of the state and a pillar of Israeli industry."
Netanyahu also commented on Wertheimer's "love for his homeland," which led him to "choose to establish factories in the Galilee and the Negev – not just to produce produce, but to build a future."
"He believed that economic activity in the country was Zionist activity in every sense of the word," Netanyahu added, commenting that Wertheimer "left behind a legacy of initiative, of giving, and of a deep belief in the power of man to create and do good."
רעייתי שרה ואני מביעים צער עמוק עם קבלת הבשורה על פטירתו של סטף ורטהיימר, זכרו לברכה – איש תעשייה, חזון וארץ ישראל.סטף היה מבוני המדינה ומעמודי התווך של התעשייה הישראלית. באהבתו למולדת הוא בחר להקים מפעלים בגליל ובנגב – לא רק כדי לייצר תוצרת, אלא כדי לבנות עתיד. הוא האמין…
— Benjamin Netanyahu - בנימין נתניהו (@netanyahu) March 26, 2025
Former prime minister Naftali Bennett commented that Wertheimer was a "pioneer in industry, a pioneer in thought and a personal example to thousands of employees who worked under him and in the circles that formed around his pioneering efforts."
Bennett also commented on Wertheimer's success, stating "From a small lathe to a billion-dollar empire, Steph was the realization of the Zionist vision that combines Jewish intelligence with diligence and the understanding that if you want to succeed, you have to roll up your sleeves and just do it."
סטף היה חלוץ.חלוץ בתעשייה, חלוץ במחשבה ובדוגמא אישית לאלפי עובדים שעבדו תחתיו ובמעגלים שנוצרו סביב החלוציות שלו.ממחרטה קטנה לאימפריה של מילארדים, סטף היה המימוש של החזון הציוני שמשלב בין השכל היהודי יחד עם החריצות וההבנה שאם רוצים להצליח, יש להפשיל שרוולים ופשוט לעשות.יהי זכרו… pic.twitter.com/V3QE5nkPZs
— Naftali Bennett נפתלי בנט (@naftalibennett) March 26, 2025
His granddaughter, actress and model Maya Wertheimer, stated he spent almost 100 years making this world a better place, before referring to him as "a fighter for justice" and "the man who taught me what a good life is."
Eitan Wertheimer, Stef's son and Maya's father, passed away at the age of 70 in April 2022.