EARN HIGHER YIELDS! MONEY MARKET* VISIT ONE OF OUR LOCATIONS NEAR YOU! Sterling BERKLEY • (810) 546-2590 BIRMINGHAM • (810) 646-8787 CLAWSON • (810) 435-2840 ROCHESTER • (810) 656-5760 bank &trust SOUTHFIELD • (810) 948-8799 W. BLOOMFIELD • (810) 855-6644 "We create solutions."® ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF 11/15/96. RATES SUBJECT TO CHANGE WITHOUT NOTICE. "MONEY MARKET: $2.500 MINIMUM BALANCE REQUIRED. STATEMENT FEES MAY REDUCE EARNINGS IF MINIMUM BALANCE IS NOT MAINTAINED. LLI / STOP \ / (810) 541-5025 Internet Diamonds Are Forever Israelis puzzle over the meteoric rise of Lev Leviev's businesses. GALIT LIPKIS BECK SPECIAL TO THE JEWISH NEWS T he truth is that I miss Antwerp. If not for my hus- band's recent purchase of Africa Israel, I would have already returned home at the start of the week," said Olga Leviev, as she watched the last in a series of photographers take a picture of her husband Lev, in their Bnei Brak villa. But despite her longing for the sophisticated European city, it looks like the family will be spending a lot of time in Israel. In early November, Bank Leu- mi approved the sale of a con- trolling interest in Africa Israel to diamond merchant Leviev. The purchase of 46.58 percent of Africa Israel's share capital and some 54.2 percent of the voting rights marks Mr. Leviev's major entrance into the industrial, real estate and tourism fields in Is- rael. The diamantaire has so far invested $189 million in the hold- ing company. During the last few months, the Israeli business community has nick-named Mr. Leviev the "mystery man," a title he gained not only because he is virtually unknown in the capital market, but because very few can com- prehend how the 40-year-old businessman managed to grow from nothing into a multi-mil- lionaire almost overnight — he made his big money during the last six years. Sources in the Israeli banking field and diamond industry es- timate that the baby-faced mer- chant, who also happens to be a mohel, is worth close to $500 mil- lion. The total sales of Mr. Leviev's businesses, which em- ploy more than 10,000 people worldwide, reaches hundreds of millions of dollars a year. Although the attention made him uncomfortable, the shy Mr. Leviev held a series of interviews with the Israeli press in an at- tempt to put an end to all the tur- moil surrounding his identity. Lev Leviev was born in 1956 to one of the few orthodox fami- lies in Tashkent in Uzbekistan. In 1971, the family, which made a fortune in textiles, immigrated to Israel, and Mr. Leviev started to study in a yeshiva. At the age of 16, he left his studies and with- out any previous knowledge or connection to the diamond field, found a job at a polishing plant in Bnei Brak. Enthusiastic to learn, he gained experience in all of the diamond-processing stages. "It was a field that I was drawn too; I liked the glittering diamonds," Mr. Leviev said. "If I would have known how many hardships there were, I would have thought twice." During his army service, Lev Leviev met the 17-year-old Olga, whom he married shortly before his discharge from the army. To- day, the couple have eight chil- dren. After army service, he estab- lished a small Ramat Gan-based diamond polishing plant, known as Leviev International Dia- monds. In 1986, the plant's ex- ports totaled $25 million a year. Last year that figure was $340 million. In 1990, Mr. Leviev decided to transfer management of the lo- cal operation to his cousin, David Elishav, while he "ventured into the big world." Mr. Leviev and his family then moved to Antwerp, the heart of the Euro- pean diamond industry. Unlike many of his competi- tors, Mr. Leviev pursued new av- enues, such as establishing a direct supply connection with African mining countries in or- der to circumvent the De Beers DIAMONDS page 44' Everything you wanted to know about the Internet but were afraid to ask ONE STOP Internet is the place to start We • Find the right provider for you • Setup the software you need • Show you how to use the 'net effectively Do your business or personal web pages Just call us at (810) 541 - 5025 and we will help you with the rest. All for surprisingly reasonable rates. ■ ■ ■ Visit Our Web Site at ■ ■ ■ http://wvvw.rust.net/-mvs/onestop.htm or e-mail us at mvsgrustmet Detroit's Premiere Custom Clothier Since 1949 ti Cr) Cr) T- CO • Benchmade Suits • Custom Alterations •Accessories ► Custom Made Shirts >- CC