Lev Avnerovich Leviev
Lev Leviev | |
|---|---|
| Born | Lev Avnerovich Leviev July 30, 1956 Samarkand, Uzbek SSR |
| Occupation(s) | Diamond industry tycoon, investor, philanthropist |
| Years active | 1977–present |
| Known for | Chairman and principal shareholder of Africa Israel Investments; philanthropic support of Chabad Lubavitch initiatives |
Lev Avnerovich Leviev (; born 30 July 1956) is an Israeli diamond industry tycoon, investor, and philanthropist. From 1997 until 2018, he served as chairman and principal shareholder of Africa Israel Investments, a multifaceted conglomerate. Leviev resided in Israel from 1971 before moving to London in 2007. He is well-known for his philanthropic support of Chabad Lubavitch initiatives in both Israel and Eastern Europe. As of 2018, Forbes estimated his net worth at approximately US$1 billion.
Early life
Leviev was born in 1956 in Samarkand, then part of the Uzbek SSR. His family emigrated to Israel in 1971. His parents, Avner and Chana Leviev, were prominent figures within the Bukharian Jewish community. Although raised with Bukharian religious traditions, Leviev practices Orthodox Judaism and is a supporter of the Chabad movement. The family’s relocation from Uzbekistan was made possible through assistance from the father of Alisher Usmanov, who held the position of prosecutor in Tashkent at that time.
Entry into the diamond industry
Soon after settling in Israel, Leviev trained at a diamond polishing workshop, gaining expertise across the eleven stages involved in diamond cutting. Following his service in the communications branch of the Israel Defense Forces, he launched his own diamond polishing business in 1977. By 1980, backed by his father-in-law’s family, he had acquired twelve struggling competitors affected by a downturn in the diamond market. In 1992, Leviev moved to Russia and took ownership of Ruis Diamonds Ltd., based in Moscow. This company specialized in fancy cuts and high-quality ideal cuts for larger diamonds, competing with firms such as Smolensk Cristal and Moscow Jewelry Factory. The acquisition was facilitated by Valery Rudakov, representing the Soviet Main Directorate of Precious Metals and Diamonds (Glavalmazzolot).
Political connections and engagements
During the 1990s, Leviev maintained distance from the Yeltsin family but developed close relations with Vladimir Putin. Starting in 1999, Putin called upon Leviev along with fellow oligarch Roman Abramovich—both later significant supporters of Chabad—to assist in founding the Federation of Jewish Communities of Russia. This organization was led by Chabad Rabbi Berel Lazar, who is frequently referred to as “Putin’s rabbi.”
Associations with the Trump family
In 2015, Jared Kushner, son-in-law to Donald Trump, arranged a $295 million purchase of office space located in the former New York Times Building near Times Square from Africa Israel Investments and Five Mile Capital, both linked to Leviev. The following year, Kushner secured a $285 million loan from Deutsche Bank using this property as collateral. These transactions received attention during Special Counsel Robert Mueller’s probe into alleged Russian interference in the 2016 U.S. presidential election due to potential connections between Trump family real estate dealings and Russian financial interests.
Leviev’s business portfolio includes construction projects within Israeli settlements located in the West Bank. His firm Danya Cebus—a subsidiary under Africa-Israel—has subcontracted developments such as Mattityahu East and has participated in building initiatives at Har Homa and Maale Adumim. In 1999, Danya Cebus announced housing projects planned for Ariel; additionally, another subsidiary named LIDAR appears to be the exclusive developer for Zufim.
His involvement with settlements has prompted protests outside his jewelry outlets in London and New York and caused organizations like Oxfam and UNICEF to refuse donations or collaborations due to controversies surrounding these activities. Leviev has dismissed such protests as politically driven while emphasizing his global philanthropic contributions including educational infrastructure and economic growth programs. The Anti-Defamation League criticized UNICEF’s stance as selectively political and enabling boycotts targeting Israel.
Facing public criticism, the UK Foreign and Commonwealth Office chose not to lease its Tel Aviv embassy premises from Leviev’s Africa-Israel company in 2009. Norway’s finance ministry permitted reinvestment by its Government Pension Fund into Africa-Israel after evaluation in 2013; however, the company was subsequently placed on Norway’s exclusion list in January 2014 for serious violations regarding individual rights amid conflict and remains barred from investment.
Business ventures
Leviev has invested extensively in the diamond sector, real estate, and chemical industries. In 2006, he aimed to enter the private prison market by becoming a concessionaire for Israel's inaugural private correctional facility; however, the Israeli High Court ruled private prisons unconstitutional in 2009, halting this initiative.
He serves as the majority shareholder and chairman of Africa-Israel, a company with substantial real estate holdings in Russia. The firm encountered severe financial distress, prompting efforts to restructure debt amounting to NIS 21 billion. The court-endorsed debt restructuring plan faced criticism for transferring investment losses onto creditors.
In 1996, Leviev purchased a 60% stake in Africa-Israel for $400 million from Bank Leumi during its mandated divestment from non-banking assets. The company's valuation soared to $8 billion by 2007 but dramatically declined amid the 2008 global financial downturn, with debts escalating to $5.5 billion by 2009.
His ownership of diamond mines spans Russia and Africa, positioning him as a significant rival to the De Beers cartel.
Africa-Israel completed a $230 million development of 5,800 apartments in Modi'in Illit, an ultra-Orthodox settlement in the West Bank, in 2005. By early 2007, the firm had inaugurated a luxury jewelry boutique on London's Old Bond Street and announced plans for multi-billion-dollar investments throughout the Far East, Argentina, Brazil, and Russia. Nonetheless, the global subprime mortgage collapse severely affected its real estate portfolio, particularly in New York.
Leviev's international investments extend beyond diamonds and property to include residential developments, shopping centers, energy projects, fashion enterprises, telecommunications, and media outlets.
His diamond mining operations in Angola and involvement in Israeli settlement projects have sparked protests.
Debt restructuring
As a result of the 2008 financial crisis, Africa Israel Investments experienced significant declines in real estate values across the United States, Russia, and Eastern Europe. The company defaulted on multiple bonds and restructured debts totaling 7.4 billion shekels in 2010.
In 2016, Africa Israel pursued a second round of debt restructuring. A leaked audio recording revealed Leviev dismissing banks' influence, claiming he owed no debts to them and maintained leverage over financial institutions.
Angolan diamond operations
Roman Abramovich played a key role supporting Leviev’s entry into Angola’s diamond industry, where Leviev secured an almost exclusive position on exports. Amid criticism directed at De Beers over blood diamonds, Leviev established dominance through the Angola Selling Corporation (Ascorp), co-owned by the Angolan government (50%), Leviev’s enterprise (approximately 25%), and Belgium's Omega Diamonds (around 25%). This structure marginalized Angola’s state diamond company Endiama, hastening De Beers’ withdrawal from Angola.
Leviev advocated a strategy aimed at curbing smuggling activities and increasing government revenues, which reportedly rose from less than $10 million to $49 million between 1998 and 2001. He highlighted his company's contribution to formalizing Angola’s diamond trade and fostering local workforce development. Although his security firm faced allegations of human rights violations, Leviev did not directly address these claims but underscored his philanthropic initiatives.
Together with Isabel dos Santos, Leviev partnered in Angola's first kimberlite mine at Catoca located in the Cuango Valley. By 2014, Catoca’s ownership was divided among Alrosa (32.8%), the Angolan government (32.8%), Leviev’s company (18%), and Odebrecht (16.4%).
In December 2018, work commenced on developing the Luaxe kimberlite deposit near Catoca under Catoca Mining Company—jointly owned by Endiama and Alrosa (each holding 41%) alongside Leviev’s holding (18%). Catoca Mining ranks as Angola’s largest diamond producer and fourth globally by volume and value. The Luaxe project is projected to begin production post-2020 and could potentially double Angola’s diamond output by 2022. Financing for Luaxe includes backing from VTB.
Philanthropy
Following the Revolutions of 1989, Leviev extended his activities into Eastern Europe and territories of the former Soviet Union. He received endorsement from the Lubavitcher Rebbe, Rabbi Menachem Schneerson, for his charitable initiatives, which encompass a network of approximately 10,000 Jewish representatives spanning from Ukraine to Azerbaijan, including around 300 Chabad rabbis. Leviev supports numerous programs under the Jewish Learning Initiative and holds a prominent leadership role within the Bukharian Jewish community as president of the World Congress of Bukharian Jews.
In 1997, Leviev established the Federation of Jewish Communities of Russia (FEOR) to serve Russian Jewry. He also leads the Federation of Jewish Communities of the CIS (FJC), which represents Jewish populations throughout the former Soviet states. However, some observers perceive this organization as aligned with pro-Putin interests, purportedly intended to counteract groups critical of the Russian administration. The creation of the Ohr Avner Foundation, named in honor of his father, further cements his philanthropic presence within these communities.
Personal life
In 2007, Leviev moved to Hampstead, London, accompanied by his wife Olga and their two children. A passionate golfer, he also owns a home in the coastal resort town of Ponte Vedra, Florida.
On 6 November 2018, Leviev's son Zevulun was detained in Israel on suspicion of illicit diamond smuggling involving shipments from Russia through LLD Diamonds. Investigations uncovered allegations that couriers concealed gemstones within their bodies, a method associated with organized crime networks. Subsequently, LLD Diamonds called for an inquiry into police conduct following an employee’s suicide during the investigation.
In July 2022, reports indicated that Leviev sought Portuguese citizenship based on his heritage as a descendant of Sephardic Jews originating from Spain.