Michael Federmann facts for kids
Quick facts for kids
Mikey Federmann
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| מיקי פדרמן | |
| Born | 9 September 1943 Haifa, Mandatory Palestine
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| Nationality | Israeli |
| Education | Hebrew University of Jerusalem (BA, MBA) |
| Board member of |
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| Spouse(s) | Leora Federmann |
| Children | 3 |
Michael Ilan Yoel "Mikey" Federmann (Hebrew: מיקי פדרמן), born on September 9, 1943, is an Israeli businessman. He is known for making drones and owning many hotels. He leads two big companies: Elbit Systems, which makes defense technology, and the Dan Hotels group. Under his guidance, Elbit Systems grew much larger. It became a major player in the global market for drones and other military technologies.
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Early Life and School
Mikey Federmann was born in Haifa, a city in Israel. His parents were Bella and Yekutiel "Ksil" Federmann. He studied at the Hebrew University. There, he earned degrees in economics and political science. He also got a master's degree in business. Before his business career, he served in the Israel Defense Forces in a special unit called Sayeret Matkal.
His Business Work
Since 2002, Mikey Federmann has owned Federmann Enterprises Ltd. This big company was started by his father and uncle. His cousin, Ami Federmann, also has a share in the company. Mikey Federmann is in charge of the boards for their two largest public companies. These are Elbit Systems, which makes defense electronics, and Dan Hotels Corp, which runs luxury hotels.
Elbit Systems
Mikey Federmann joined Elbit Systems in 1998. This happened when his company, El-Op, joined with Elbit. This merger made the company twice as big. Elbit was already set to benefit from the growing drone market. However, the company grew seven times larger in the next ten years. This huge growth was thanks to Federmann and CEO David Ackerman's leadership. They worked to buy other companies around the world. This plan helped Elbit become a huge international company worth billions of dollars.
Dan Hotels
Under Mikey Federmann's leadership, the Dan Hotels group has continued to grow. This growth is due to more tourism and business in Israel. The hotel chain has also kept adding new hotels. Dan Hotels started in 1947 as a small guesthouse in Tel Aviv. His father and uncle bought it then. Over the years, it grew into a national chain of hotels. It has even expanded to India, with its first hotel in Bengaluru.
A famous hotel in the chain is the King David Hotel in Jerusalem. Since it opened in 1932, this hotel has hosted important leaders and diplomats. They stay there when visiting Israel.
His Wealth
In 2010, Mikey Federmann was ranked as the 7th wealthiest person in Israel. This was reported by the Maariv newspaper. His wealth was estimated at about 6.5 billion shekels, which was around $1.4 billion. That same year, Forbes magazine listed him as the 721st richest person in the world. As of November 2020, Forbes estimated his wealth to be $2.1 billion.
Awards and Honors
Mikey Federmann has received several important awards:
- In 1996, the Hebrew University of Jerusalem gave him an honorary doctorate degree. This is a special award for his achievements.
- In 2005, he won the Israeli industry prize for electronics.
- In June 2014, he received an honorary CBE from Queen Elizabeth II. This award was for his help in business cooperation between the UK and Israel.
Important Roles
Mikey Federmann holds several senior positions:
- He is the Chairman of the Board for Elbit Systems.
- He is the Chairman of the Board for Dan Hotels.
- He is the Chairman of the Board of Trustees for the Hebrew University of Jerusalem.
- He is a board member of the Weizmann Institute of Science.
Personal Life
Mikey Federmann and his wife Leora have three children. Their names are David, Gidi, and Daniel. Daniel is married to Sharona Pick. Sharona is the daughter of Svika Pick and the sister-in-law of Quentin Tarantino.
