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Meet Israel’s Richest Rabbis

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Rabbi Pinchas Abuchatzeira, a descendant of the revered Baba Sali and a son of the late Rav Elazar Abuchatzeira, has become the richest rabbi in Israel, with an estimated net worth of NIS 1.3 billion. He inherited most of his fortune from his father.Blessing and leading followers in the path of the righteous may serve as a bigger business asset than the ability to manage, sell, and communicate in the economic sphere, a recent report from Forbes Israel suggests.

Last week, the Israeli publication printed a list of the ten richest rabbis in Israel, and, in the last couple of days, those critical of the rabbis have highlighted these astonishing monetary statistics as examples of the sometimes selfish behavior that may occasionally surface from rabbis who preach selflessness, humility, and the spiritual detriments of money and luxury, while earning large sums of cash on the side.
In his late 30’s, Rabbi Pinchas Abuchatzeira, the son of Baba Elazar who was murdered last year by a follower, ranked first as Israel’s richest rabbi in Forbes, with an estimated fortune of 1.3 billion NIS (~$350 million).

Most rabbis earn their fortunes through donations from special interest groups and tycoons, and through property. Forbes reported, though, that the social protest last summer in Israel hurt rabbis’ incomes by greatly reducing incoming donations from tycoons.

The Daily Haaretz‎ newspaper describes Rabbi Abuchatzeira as a “young and relatively unknown rabbi, who essentially became a tycoon” after inheriting money following the death of his father.

Laughing at the multiple advantages of being a religious figure and also a millionaire, Business Insider opened an article on the subject of the new rankings with this first sentence: “A billion shekel industry per year, a ‘richest of’ list topped by a man worth more than $335 million (1.3 billion NIS), and no risk of paparazzi. Being an Israeli rabbi can have its perks.” 

The fortune of Rabbi Abuhatzeira’s uncle, Rabbi David Hai Abuchatzeira is estimated at 750 million shekels (~$200 million).

The rabbis that follow Rabbi Abuchatzeira in the Forbes ranking include:  The Gurer Rabbi, Reb Yaakov Arie Altar, with a fortune of NIS 350 million (~$90 million); The Belzer Rabbi, Reb Yissachar Dov Rokeach, with a fortune of NIS 180 million (~$50 million); Rabbi Nir Ben-Artzi, with a fortune of NIS 100 million (~$26 million); Rabbi Yaakov Ifargen, with a fortune of NIS 90 million(~$23 million); and Rabbi Yeshayahu Pinto, with a fortune of NIS 75 million (~$20 million).

Because most of the rabbis’ annual incomes come from non-profit organizations, donations and charitable activities, their money is difficult to monitor, since it is not reported to the tax revenue authorities and is “off the books”.

Another contributing factor to the rabbis’ surprising cash supplies, as described by Times of Israel, is the clergymen’s abilities to foment an air of celebrity around themselves, such as Rabbi Yeshayahu Pinto, who has become the de facto rabbi to the country’s elite and celebrities around the world seeking his blessings or advice.

Wealth and success, however, don’t always translate into influence or popularity. Since, most of those who managed to top the Forbes list have not been able to utilize their fortunes to become more influential in the Jewish world, they have borne little communal impact other than to be featured on occasion in weekly magazines or at public events. And not all of today’s leading and influential scholars and rabbis are fortunate enough to cross the financial finish line; Shas spiritual leader Rabbi Ovadiah Yosef, who has a fervent following among politicians and the masses— but not enough to make Forbes’s list— and Rabbi Ariye Lieb Shtienman, who lives in an apartment with minimal provisions, are only two rabbis who don’t have the money to make Forbes, but who nonetheless carry much power and influence within the Jewish world.

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