Israel's wealthiest man is moving to the UK

Idan Ofer, whose net worth is estimated at $6.5 billion, is reported to be relocating to London for “family reasons”. His son, who has recently finished his Israeli army service, may decide to study in the UK and Mr Ofer's mother, Aviva, already lives in London.

Mr Ofer, 57, is the controlling shareholder of Israel Corporation, which has interests in shipping and energy.

Up to now he and his wife, Batya, have divided most of their time between an estate in Arsuf and an $18.5 million apartment in Tel Aviv. He already owns a n apartment in London, as well other as properties around the world.

The family shipping business, co-owned with his brother Eyal, is the largest fleet of British-flagged ships in the world. There is a wing at the National Maritime Museum in Greenwich named after their father, Sammy Ofer.

Mr Ofer ranks 182 on the Forbes list of billionaires.

Last updated: 10:11am, October 2 2013