By Jacob Kamaras
Israel Bonds raises $200 million since Oct. 7 By Jacob Kamaras With Israel at war, Development Corporation for Israel/Israel Bonds and its affiliates around the world this week secured over $200 million in bond sales from investors since the war broke out in Israel, including $150 million in bond purchases from U.S. states, local municipal governments and an institution, sending an emphatic message of hope to the people of Israel and the global Jewish community.
Texas Comptroller Glenn Hegar announced the purchase of $20 million in Israel bonds.
“Texas has long had a deep spiritual, political and economic connection to Israel and the Israeli people,” Hegar said. “They are our friend and ally and Texas supports their right to defend their people against these cowardly terrorists. We will stand with them and we will provide them with the financial liquidity needed to respond to the atrocities we’ve all witnessed.”
The other state and local government investments from around the country came from the Commonwealth of Pennsylvania, Florida Department of Financial Services, Illinois State Treasurer, New York State Common Retirement Fund, Treasurer of the State of Ohio, Palm Beach County and Cross River.
Since 1994, Texas has invested in Israel bonds annually and after this purchase, the state will hold nearly $100 million in Israel bonds. Israel bonds were first sold in 1951 and Israel has maintained an impeccable record of interest and principal payments.
“Israel Bonds applauds Comptroller Glenn Hegar and Governor Greg Abbott for their steadfast support of the State of Israel and their continued investment in the Jewish people,” said Israel Bonds Dallas Chairman Zev Shulkin, who is also a member of the Israel Bonds National Campaign Advisory Council. “At this tumultuous time, we do not take this investment lightly and we thank our elected leadership for their true friendship in this time of need.”
Israel Bonds and its affiliates, which before the war broke out in Israel had nearly met its annual goal of $1 billion in bond sales, have also launched a special campaign to raise support for Israel among the American and international Jewish communities. Each investment in an Israel bond provides the nation with impactful and much-needed assistance, through financial support that helps secure the future of the State of Israel and its people.
Now, on the heels of what many are describing as the deadliest day in Jewish history since the Holocaust, Israel Bonds has responded by rallying this historically swift and substantial wave of investment in Israel from U.S. state and municipal governments.
“The extent to which the United States has supported Israel is incredible, demonstrating how this support cuts across partisan lines and is deeply rooted nationwide,” said Israel Bonds President and CEO Dani Naveh. “The response in Texas and across other U.S. states was immediate and demand exceeded the amount of Israel bonds that we were able to sell at that time. At the same time, thousands of Jews from all over the world have been expressing their support for Israel by also purchasing bonds for themselves and on behalf of various organizations such as hospitals, emergency service organizations and an organization supporting Israeli soldiers.”
Howard L. Goldstein, chairman of the Israel Bonds national board of directors, said, “The message from the people of Texas to our brothers and sisters in Israel is that you are remarkable. Stand strong and you will never be alone. We have and will always be with you. The U.S. stands with Israel, now more than ever. Israel Bonds has proved once again that it is a crucial component of Israel’s financial well-being. Am Yisrael Chai!”
Meanwhile, the Shalom Bond also gives purchasers the ability to donate Israel bonds to their notfor- profit cause of choice, while simultaneously supporting Israel through Israel Bonds. Dallas-based businessman and philanthropist Larry Olschwanger, national campaign advisory council chair for Israel Bonds, has donated Israel bonds to both Jewish and non- Jewish not-for-profit organizations for several years.
“I get a lot of joy out of giving the money away, but also in knowing that the recipients of the donated Israel bonds understand that Israel is important to me,” Olschwanger said. “It’s a double mitzvah. The State of Israel gets the money and the recipient then collects the interest and receives the principal when the bond matures. That’s a win-win.”
For 72 years, Israel Bonds has generated $49 billion worldwide, across all Bonds affiliates, in financial support for the building and development of every sector of Israel’s economy. Israel bonds are a smart investment, with strong rates, and are meaningful investments, serving as a symbolic connection with Israel and the people of Israel for Jews worldwide. For more informati