Jewish billionaire investor Bill Ackman has predicted Israel will produce a $1 trillion company within a decade.
Ackman, founder of Pershing Square Capital Management, made the comment at the Sheba Medical Centre’s annual summit in Tel Aviv.
He said he had become very bullish on Israel in the wake of October 7 and had grown even more optimistic since, describing the economy as one of the best in the world, Reuters reported.
He also argued that Israel’s small population could be an advantage in the age of AI.
"The United States has $40 trillion of debt and a lot of that debt comes from supporting a very large population.
"There will be a trillion dollar market cap company that comes out of Israel. I would be surprised if not in the next five years, let alone the next ten," he said.
Ackman said the conflicts in the Middle East had "reset" the region and improved the chances of peace.
He added that if US President were to be successful against Iran, there would be “a massive peace dividend in the region".
He said he viewed Democratic Socialists as a "threat to democracy, capitalism, Israel and the Jewish people".
To get more Israel news, click here to sign up for our free Israel Briefing newsletter.