Top 10 Billionaires from Cyprus in 2020

4. Yakir Gabay (Net worth: $3.4 billion)

Yakir Gabay owns 40.3% of Frankfurt-listed German real estate company Aroundtown SA, where he serves as chairman of the advisory board. Aroundtown SA manages commercial real estate in Europe and has a 38% stake in Grand City Properties, which owns 86,000 apartments in Germany. Originally from Israel, Gabay previously served as CEO of the underwriting company for Bank Leumi, one of Israel’s largest banks.

He then served in management positions in the capital market as an investment banker. In the mid-1990s, he served as CEO of the investment banking division of Bank Leumi. At the beginning of 2000, Gabay served as chairman and partner of Gmul Investments, which then managed investments for pension funds, in real estate and securities totaling $30 Billions.

In 2004, Gabay established real estate investment activity in Berlin and expanded to other large cities in Germany, UK and the Netherlands in the residential, hotel and office markets. He co-invested with private investors as well as institutional investors among the largest in the world. The Group’s properties are located in the major cities of Germany, UK and the Netherlands.

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