Early Life
Shlomo Eliahu was born in Baghdad, Iraq, in January 1936. At the age of 14, he immigrated to Israel with his parents and eight siblings. The family initially lived in a temporary absorption camp and later moved to the Kiryat Shalom neighborhood in Tel Aviv. Following the death of his father, Shlomo became the primary breadwinner for his family. He started working as a messenger for the Migdal Insurance Company before becoming an independent insurance agent.
Rise to Success
In 1955, Eliahu opened his insurance agency in a motorcycle repair shop. He enlisted clients from the southern Tel Aviv residents while simultaneously working as an entertainment promoter. In 1966, at 30, he founded Eliahu Insurance Company, the first firm in Israel licensed to sell insurance, initially focusing on car insurance before expanding into all areas of the industry. He expanded his business ventures, holding shares in Phoenix Insurance Company and Ayalon Insurance Group. He became the primary private shareholder in Bank Leumi and held the controlling interest in the Union Bank of Israel. In 2012, he purchased a controlling interest in Migdal Insurance Company.
Key Business Strategies
Eliahu's success stems from a focus on customer service and building a diverse financial portfolio. His strategy included creating tailor-made insurance products and expanding into banking and real estate, holding a large stake in Bank Leumi and Union Bank of Israel. Furthermore, he built a high-rise office building in Haifa and was involved in developing the Gan Hair project near the Tel Aviv municipality building. His ability to identify and capitalize on opportunities, combined with a commitment to community and responsibility, has made him a leading figure in the Israeli business landscape.
Philanthropy
Shlomo Eliahu is known for his philanthropic activities, including supporting Aleh, Israel's largest network of residential facilities for children with severe physical and cognitive disabilities. He has funded scholarships at Tel Aviv University and contributes to the development of Reichman University's infrastructure. Eliahu's philanthropic efforts reflect his values of hard work, honesty, and a deep love for Israel. He believes that business success creates a clear responsibility to give back to the community.