Leon Recanati

Israeli businessman and philanthropist

This article is about the Israeli businessman and philanthropist. For his grandfather, the banker and philanthropist in Mandatory Palestine, see Leon Yehuda Recanati.

Leon Recanati

ליאון רקנאטי

Born|  (1948-05-10) May 10, 1948 (age 77)
Nationality| Israeli
Occupation(s)| businessman and philanthropist
Known for| co-chairman of IDB Holding
Children| 3
Relatives| Leon Yehuda Recanati (grandfather)
Michael Recanati (cousin)
Thomas Kaplan (son-in-law)
Avraham Recanti (great-uncle)

Leon Yehuda Recanati (Hebrew: ליאון יהודה רקנאטי; born May 10, 1948) is an Israeli banker, businessman, and philanthropist. He is a member of the Recanati family, founders of Israel Discount Bank and the IDB Group.

## Biography

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Leon Recanati was born in Tel Aviv to Mathilda (née Carasso) and Daniel Recanati, then an executive at Israel Discount Bank, and later the bank CEO. He is the grandson of Leon Yehuda Recanati (1890–1945), head of the Jewish community in Thessaloniki, who immigrated to Mandatory Palestine in 1935 and founded Israel Discount Bank. [1] He studied at the Herzliya Hebrew Gymnasium. He later earned a master’s degree in business administration from the Hebrew University of Jerusalem. [2]

## Business career

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After completing his academic studies, Recanati joined Israel Discount Bank in 1971. His entry-level role as a cashier reflected a family policy, set by his father, that required members to begin at the bottom and thoroughly understand the bank before advancing to senior roles. He later served as deputy CEO and head of marketing and the branch network. [2] During his tenure, he initiated the bank's technological services. He founded "Discount Initiatives for Culture and Art," supporting exhibitions, museums, and performing arts, as well as establishing the bank's collection of Israeli art. [3]

In 1986, Recanati left the bank and joined the IDB Group, where he held executive roles, including Co-CEO of IDB Development Corporation and chairman of IDB Holdings, as well as Shufersal supermarkets, the energy group Delek, Clal Israel, Clal Industries, and Azorim real estate. He served as a board member in subsidiaries, including American Israeli Paper Mills, Scitex Corporation, El Yam Shipping, Discount Investment Corporation, and Elron Ventures. [4] In 1998, Recanati began managing the family's business alongside his cousin Udi Recanati. After Raphael Recanati's passing, both were appointed co-chairs. In 2001, Udi resigned, and Leon became chairman of the IDB Group [5] until its sale in May 2003 to Nochi Dankner, Itzhak Manor, and Avraham Livnat for 840$ million. [6] In July 2003, Recanati founded GlenRock Israel, an investment company focusing on technology and life sciences. [7]

In 2007, he purchased a 50.4% stake (73% total, with two minority partners) in the Gmul Investment Company for NIS 600 million, which was more than twice its market capitalization. Gmul had stakes in real estate, hotels, investments, and the automotive industry. It was founded in 1950 by Bank Hapoalim, the Histadrut labor federation, and several pension funds. Performance at Gmul deteriorated. [8] In October 2011, he sold half of his 50.4% investment in Gmul to Itzhak Gvilli for NIS 20 million. He resigned as chairman of Gmul in July 2012. [9] He is a shareholder and board member in companies such as Evogene, [10] Kamada Ltd., [11] and Mivtach Shamir Holdings Ltd.. [12]

## Social Involvement

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Recanati is involved in educational and social development in Israel. In 1985, he responded to a call by Yitzhak Navon, the then minister of education, to assist the nascent science museum in Haifa. He has chaired the museum, now the Israel National Museum of Science, Technology, and Space, ever since. It is named in honor of his parents, Daniel and Matilda Recanati. [13] In 2000, he founded Appleseeds Academy (Tapuach) to bridge the digital divide and promote social mobility in Israel through access to technology and knowledge. [14] He established The Entrepreneurial Teacher Award (2004) for innovative teachers across all educational sectors, The Entrepreneurial Social Worker Award (2006) recognizing innovation in social welfare. [15] In 2011, he founded the Salonika and Greece Jewry Heritage Center in Petah Tikva. [16]

## Public Service

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As of July 2025, he is chairman of Madatech – Israel National Museum of Science, Technology, and Space; [17] vice chairman, Israel Cancer Association; [18] president, Appleseeds Academy; [19] chairman, Rabinovich Foundation’s Cinema and Experimental Theatre Project; [20] trustee, Tel Aviv University; [21] chairman, Lahav Executive Education, faculty of management, Tel Aviv University, [22] founder and board member, Salonika and Greece Jewry Heritage Center; [23] trustee, Yad Sarah; [24] chairman, Yahel – Leon Recanati family foundation; chairman, Leon Recanati scholarship fund. [25]

In the past, he was a member of the board of governors and executive committee, Hebrew University of Jerusalem; board member and chair of the development committee, Tel Aviv University; member of the board of governors, Weizmann Institute of Science; trustee, Bezalel Academy of Arts and Design; board and trustee, Israel Museum; board and trustee, Tel Aviv Museum of Art; trustee, Anu – Museum of the Jewish People; board member and trustee, Alut (Israel Society for Children and Adults with Autism). [4]

## Awards and Honors

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* 1999 – Honorary doctorate, Technion – for visionary contributions to education, science, culture, and health in Israel. [26]
* 2002 – Honorary doctorate, Tel Aviv University – for long-standing dedication to education and educational innovation. [27]
* 2007 – Manufacturers Association of Israel President’s Award for Volunteer Industrialist – for significant contributions to education and faith in the next generation. [28]
* 2009 – Captain’s Award, Hadassah College of Technology – for volunteer efforts and excellence in education.
* 2011 – Honorary citizen of Haifa – for over 30 years of contributions to Madatech and the city’s educational institutions. [29]
* 2012 – Knight, Order of the Star of Italy. [30]
* 2016 – Honorary citizen of Ramla – for contributions to the city’s children and community, including the establishment of a technology campus and knowledge center. [31]

## Personal Life

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Since 1988, Leon Recanati has been separated from his spouse, filmmaker and artist Mira Recanati. They have two children: Daniel (born 1976) [32] and Dafna (born 1970), who is married to American philanthropist and investor Thomas Kaplan [33] He also has a daughter, May (born 1991), from a previous relationship with Shula Recanati. [34]

## References

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1. ^ "Leon Yehuda Recanati". Tel Aviv University/Recanati Business School. Archived from the original on 2013-04-12. Retrieved 2013-02-18.
2. ^ a b Jewish Virtual Library: "Leon Recanati" retrieved May 12, 2013
3. ^ Riki Galia (2015). From philanthropy to corporate social responsibility: The case of Discount Bank. Resling Publishing House, pp. 67-68.
4. ^ a b (December 20, 2003). Leon Recanati. News1.
5. ^ Golan Hazani (June 3, 2015). IDB Holdings returns to the Recanati family after 12 years. Calcalist.
6. ^ (May 19, 2003). The IDB deal has been completed. Ynet.
7. ^ Ora Coren (September 3, 2003). Leon Recanati founded a new investment group called Glenrock. Haaretz.
8. ^ Lipson, Nathan (October 12, 2008). "The Losses of Leon Recanati". Haaretz. Retrieved 24 December 2017.
9. ^ Haaretz: "Recanati Cutting his losses / Recanati sells half his stake in Gmul - Leon Recanati, through his privately owned company Legov, sells 25.2% of the company's stock, representing half his 50.4% stake, along with a share in control to CPA Itzhak Gvilli for up to NIS 20 million" By Michael Rochvarger October 6, 2011
10. ^ (March 30, 2023). EVOGENE LTD. p. 6 (11). FORM 6-K.
11. ^ Golan Hazani (May 24, 2023). The FIMI fund increases its stake in Kamada – becomes the controlling shareholder in the company. Calcalist.
12. ^ Hezi Sternlicht (February 19, 2024). Clal Insurance investing up to NIS 319m in Shamir Energy. Globes.
13. ^ MadaTech's History.
14. ^ Appleseeds Academy, Israel, 2019 Honorary Fellowship Recipients. Tel Aviv University.
15. ^ Recanati-Kop-Rashi Prize
16. ^ The Salonika and Greece Jewry Heritage Center
17. ^ Board of Directors & Staff - Madatech.
18. ^ Who is Who. Israel Cancer Association.
19. ^ Board members and management. Appleseeds.
20. ^ The Yehoshua Rabinovich Foundation for the Arts
21. ^ Tel Aviv University Governors
22. ^ Lahav board and management.
23. ^ The Salonika and Greece Jewry Heritage Center.
24. ^ Yad Sarah, International Board of Trustees, 2022-2028.
25. ^ Yahel Foundation.
26. ^ Honorary doctor. Technion.
27. ^ Honorary doctorate recipients 1965-2006. Tel Aviv University.
28. ^ (July 9, 2007). Leon Recanati will receive the President's Award from the Manufacturers Association. Port2Port.
29. ^ (November 1, 2011). The honorary citizenship of the city was awarded to Leon Recanati. Haifa.
30. ^ Recanati Dr. Leon, Cavaliere dell'Ordine della Stella d'Italia (già Stella della solidarietà italiana).
31. ^ (September 14, 2016). Ramla City Council Meeting. pp. 6-7.
32. ^ Michal Galanti (October 14, 2012). The Conversation: The Recanati Clan Reunites. Globes.
33. ^ "Thomas Kaplan". forbes.com.
34. ^ Adva Melamed Levi (March 15, 2019). The leech on Friday. Yedioth Ahronoth.