Leviev’s Corporate Empire Crumbles

Lev Leviev, diamond mogul to the stars and settlement builder to the Jews, is in similar hot water to another right-wing pro-Israel supporter and corporate magnate, Sheldon Adelson.  An Israeli business site reports today a general meltdown on the Tel Aviv stock market which hit companies like Leviev’s especially hard:

Panic in the corporate bond market spread to blue-chip stocks today, with heavily indebted holding companies taking a battering. Lev Leviev’s Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) fell 30.5%, [the] company…lost over 80% of [its] value since January, exceeding the worst nightmares of any shareholder.

Adelson’s Las Vegas Sands has lost 90% of its value due to the economic meltdown.

Though some with different political views than mine might argue that I’m being uncharitable, somehow people like these never manage to end up out on the street with tin cup in hand and I trust that won’t happen to either Adelson or Leviev.  Others might even argue that individuals with such huge egos and unforgiving hearts toward those with whom they disagree could do with a little chastening.

In addition, their corporate troubles just might rein in some of their worst political impulses. In Adelson’s case, it might curb his support for the execrable Freedom’s Watch and Republican Jewish Coalition. In Leviev’s, it might constrain his settlement building projects which have expropriated much Palestinian farmland turning it into shiny happy settlements for Israeli Jews.  He also might have to sell that $70-million palatial London mansion (at the time the most expensive residential home sale in English history) to satisfy corporate margin calls.  ‘Tis a pity.

Thanks to David Bloom for the story tip.