(JNS.org) Dubbed the “start-up nation”
for its culture of innovation and a book by Dan Senor and Saul Singer that used
that term, Israel received praise along those lines this week from world-famous
billionaire investor Warren Buffett, who on Wednesday completed his acquisition
of Israel’s Iscar tool-making company.
Warren Buffett. Credit: Mark Hirschey.
“Israel should continue
to do what it’s doing,” Buffett said in an interview with Israel Hayom. “You are a nation of entrepreneurs with amazing
abilities. Israel must continue to provide them with the best and most
comfortable work climate. That is the government’s responsibility: to create a
comfortable climate for entrepreneurs.”
Buffett, who acquired
80 percent of Iscar in 2006, acquired final 20 percent from the Wertheimer
family for $2.05 billion on Wednesday.
“Israel is a great
place to invest because of its people,” Buffett told Israel Hayom. “There is no other place in the world where you find
people with these qualities, as well as with the motivation and the ability to
focus that you see at Iscar.”
Iscar will remain in
Israel following Buffett’s acquisition, said Eitan Wertheimer, chairman of the
International Metalworking Companies (IMC) group, with whom Iscar is affiliated.
IMC is part of Berkshire Hathaway, Buffett’s holding company.