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
Photo by: YARIV KATZ /POOL/FLASH 90
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.



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