The Federmann family controls Dan Hotels and a large Elbit stake. See who chairs each company, ownership figures, the NoMo SoHo deal and the $11.2B fortune.
The Federmann family controls Dan Hotels and holds a large stake in Elbit Systems through the private holding company Federmann Enterprises. Michael Federmann chaired Elbit from 2000 to 2023, and Bloomberg puts his fortune at $11.2 billion. Federmann Enterprises holds 71% of Dan Hotels per Bloomberg, and about 42% of Elbit's shares per Globes.
What is the Federmann family empire at a glance?
| Item | Detail | Source |
|---|---|---|
| Holding company | Federmann Enterprises, privately owned by the family | Globes |
| Michael Federmann | Born 1943; Elbit chairman 2000 to 2023; Bloomberg rank #320 at $11.2 billion | Bloomberg |
| Dan Hotels | Listed on the Tel Aviv Stock Exchange in 1982; 16 hotels in Israel and one in Bengaluru | Bloomberg, Proskauer |
| Elbit Systems | 2025 revenue $7.94 billion; backlog $28.1 billion | Elbit Systems |
| Combined value of the two stakes | About NIS 35 billion | Globes |
Who runs Dan Hotels and Elbit now?
Michael Federmann retired as chairman of both companies when he turned 80, and his sons now hold the chairs, Globes reported. David Federmann is chairman of Elbit, Gideon Federmann is chairman of Dan Hotels and Daniel Federmann runs special projects within the Federmann Group. Shlomo Tahan manages Dan Hotels.
Older profiles, including earlier versions of this page, describe Michael Federmann and his cousin Ami as the current chairman and vice chairman of Dan Hotels. That is out of date. Bloomberg confirms that Michael Federmann's Elbit chairmanship ended in 2023.
How much of Elbit and Dan Hotels does the family own?
Published figures differ because they measure different things. Bloomberg reports that Michael Federmann and his three sons hold a 25.7% indirect economic interest in Elbit through Federmann Enterprises, citing a March 2026 Form 3 filing. Globes says Federmann Enterprises controls 42% of Elbit's shares, and MarketScreener lists 41.24% as of March 2026. The gap appears to reflect that Federmann Enterprises is also owned by other relatives, including Michael Federmann's sister, his cousin Ami and Ruth Federmann, per Globes.
For Dan Hotels, Bloomberg cites the Tel Aviv Stock Exchange for a 71% Federmann Enterprises stake, while Globes puts the holding at 87%. Olam could not reconcile the two numbers, so treat the Dan Hotels figure as 71% to 87% depending on the source.
How did the family get into defense?
The family received its Elbit interest when Elbit merged with El-Op, an optical systems company the Federmanns controlled, in 2000, and Michael Federmann became chairman of the combined company, according to Bloomberg. Globes describes the move as a first step into a field that was entirely new to a family of hoteliers.
Elbit has since grown into one of Israel's largest defense companies. It reported 2025 revenue of $7.939 billion, up 16%, and a record backlog of $28.1 billion, with 72% of that backlog from outside Israel, according to the company's results and Quartr's summary. For the company itself, see Olam's profile of Elbit Systems.
What is Dan Hotels doing now?
Dan Hotels bought the NoMo SoHo hotel in New York for $125 million in October 2025, its first move into the US market, Globes reported. The seller was Sapir Corporation, and the purchase went through a creditor-protection process in which the hotel was valued at $150 million. The 264-room hotel at 9 Crosby Street had occupancy of 82% in 2024, falling to 73% in the first half of 2025, and EBITDA fell from $7.4 million in 2024 to $674,000 in the first half of 2025.
The chain operates 16 hotels in Israel, including the King David in Jerusalem, plus one in Bengaluru, India, per Proskauer. Globes values Dan Hotels at nearly NIS 4 billion. See also the King David Hotel page and Olam's map of who owns the Israeli hotel sector.
How big is the Federmann fortune?
Bloomberg ranks Michael Federmann #320 with $11.2 billion, and says most of his wealth comes from Elbit. Globes calls the family's holdings the biggest fortune on the Tel Aviv Stock Exchange, with the Elbit stake worth about NIS 32 billion and the Dan Hotels stake about NIS 2.8 billion. The gap has widened sharply, because Elbit's share price rose 320% over five years while Dan Hotels rose 23%, per Globes.
This is Olam's reading, not a sourced claim: the family now behaves less like a hotel operator with a defense side business and more like a defense shareholder that also owns a hotel chain.
Federmann family FAQ
Who owns Dan Hotels?
Federmann Enterprises, the Federmann family holding company, holds 71% of Dan Hotels per Bloomberg and 87% per Globes.
Who owns Elbit Systems?
Federmann Enterprises holds about 42% of Elbit's shares per Globes, and Michael Federmann and his sons hold a 25.7% indirect economic interest per Bloomberg.
Is Michael Federmann still chairman of Elbit?
No. He chaired Elbit from 2000 to 2023, and his son David Federmann is now chairman, according to Bloomberg and Globes.
What is Michael Federmann's net worth?
Bloomberg puts it at $11.2 billion, ranking him #320 on its Billionaires Index.
Did Dan Hotels buy a hotel in New York?
Yes. It bought the NoMo SoHo hotel for $125 million in October 2025, according to Globes.
Related Olam coverage: Israeli hotels, Isrotel and the Lubinski family, Fattal Hotels, Israeli founders and companies and The Builders profile series.
How we report: Olam stories draw on public filings, company disclosures and named sources, checked by our editors. Read our methodology · Corrections
