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Stef Wertheimer, a pioneering Israeli industrialist, philanthropist and former lawmaker who championed manufacturing as the backbone of Israel’s economy, died Wednesday at the age of 98.
Wertheimer, who immigrated to what was then Mandatory Palestine as a child fleeing Nazi Germany, became one of Israel’s most influential business figures. He founded ISCAR Metalworking in 1952 in a backyard shed in Nahariya and grew it into a global manufacturer of precision metal-cutting tools. In 2006, he sold a controlling stake in the company to Warren Buffett’s Berkshire Hathaway in what was then the firm’s first major acquisition outside the United States.
The deal, reportedly worth $4 billion, marked a watershed moment for Israeli industry and elevated Wertheimer’s international stature. Buffett later praised ISCAR as “the kind of company we want to own,” citing its innovation and global reach.