Mr. Yitzhak Tshuva (Isaac Tshuva) is an Israeli entrepreneur and business man with large-scale global business operations. Mr. Tshuva is responsible for the discovery of major offshore natural gas reserves along the coast of Israel that began in 2000. His achievements in the energy sector have greatly contributed to establishing Israel as a prominent international player in the energy sector. The gas reserves Mr. Tshuva helped fund have given Israel independence in terms of energy and a geographic political advantage.
Childhood and Early Life
Mr. Yitzhak Tshuva was born in Libya to a family of ten children. He immigrated with his family to Israel when he was six months old and grew up near the city of Netanya. At the age of 12 years old, he began working to help support his family financially.
In the 90s, Mr. Tshuva constructed thousands of new apartment units all over Israel to house new immigrants. At the same time, he founded El-Ad Group, a private, global company which is engaged in major acquisitions of real estate property in the United States and Canada.
In 2004, the EL-Ad Group purchased the New York Plaza. Intensive preservation and restoration works were conducted on the hotel over a period of three years. Ultimately, the Plaza New York became a mixed used development project, including luxurious hotel rooms, hotel apartments, retail area and luxury residences overlooking New York’s Central Park. These elements made the Plaza New York one of the grandest and most sought after properties in Manhattan and in the international real estate market.
In 2013, the El-Ad Group made a very successful turn around when selling its holding in the New York Plaza.
Acquisition of the Delek Group
In 1998, Mr. Yitzhak Tshuva purchased control of Delek, a publically-held Israeli company. He led the company in a substantial expansion of operations, turning Delek into a global corporation with investments in many industries including international energy, natural gas, retail, petrol, insurance, finance, automobile, and biochemistry. Today, headed by Mr. Tshuva, Delek is one of the leading companies in the areas in which it operates.
Natural Gas and Oil Discoveries
Under the leadership of Mr. Yitzhak Tshuva, and together with its American Partner, Noble Energy, Delek discovered huge, nearly unfathomable, offshore natural gas reserves in Israel and Cyprus. These reserves can accommodate Israel’s predicted energy requirements for the next coming decades while enabling the export of natural gas. The gas reserves are having a profound impact on the Israeli economy and on the citizens of Israel as a source of cheap, clean, environmentally friendly energy.
The discovery of gas reserves has transformed Israel into an independent energy power, as well as being a source for international investment and an influential geopolitical lever that can be used to advance Israel’s political relations. The Leviathan reserve, one of a number of natural gas discoveries by the Delek group, was the world’s largest gas reserve discovered in deep water in over a decade.
Over the years, Mr. Tshuva has supported a large number of projects related to education and has founded foundations and scholarships to aid low-income students and youth. The Delek Foundation allocates a significant amount of its resources to developing and advancing scientific, cultural, and healthcare projects in Israel, and to the preservation of Jewish traditions.
In light of his personal beliefs, Mr. Tshuva promotes economic ventures and partnerships between Israel and its neighbors to enable the advancement of the peace process and to pave the way for important shared achievements between Israel and its regional neighbors.