Jerusalem Report

Twilight of the tycoons

Hopefully, with implementation of the Business Concentration Law, we have seen the last of the pyramids of the robber barons.

Former chairman of IDB Holding Nochi Dankner
In the dramatic final scene of Richard Wagner’s opera, “Twilight of the Gods,” the gods of Valhalla are consumed by fire and the newly cleansed world renews itself. The scene in the Tel Aviv District Court on Monday, January 5, was not quite as dramatic, but rather similar nonetheless.

Announcing his ruling, Judge Eitan Orenstein awarded final control of IDB Holding – a company controlled by tycoon Nochi Dankner, which once held a major chunk of Israel’s economy – to a group led by Moti Ben-Moshe and Eduardo Elsztain. A day later, the State Attorney’s Office announced it would indict Dankner for manipulating stock prices.

Read More..., the online edition of the Jerusalem Post Newspaper - the most read and best-selling English-language newspaper in Israel. For analysis and opinion from Israel, the Jewish World and the Middle East. offers expert and in-depth reporting from Israel, the Jewish World and the Middle East, including diplomacy and defense, the Palestinian-Israeli conflict, the Arab Spring, the Mideast peace process, politics in Israel, life in Jerusalem, Israel's international affairs, Iran and its nuclear program, Syria and the Syrian civil war, Lebanon, the Palestinian Authority, the West Bank and Gaza Strip, Israel's world of business and finance, and Jewish life in Israel and the Diaspora.

All rights reserved © The Jerusalem Post 1995 - 2014