In response to the massacre by Hamas on Saturday, Diaspora Jews have raised hundreds of millions of dollars in aid. Of these funds, at least $70 million has been allocated by the UJA-Federation of New York, CEO Eric Goldstein, told The Jerusalem Post, an amount that includes a $10m. contribution from UJA’s endowment. “This is just the beginning of the fundraising. Donations are pouring in rapidly,” he said.
Earlier this week, the Jewish Agency for Israel’s Fund for the Victims of Terror received a donation of $5 million from the Breakthrough Foundations, established by Israeli philanthropists Julia and Yuri Milner. This donation is the largest single gift ever made to the fund.
Established in 2002 during the Second Lebanon War, The Fund primarily receives its support from the Agency’s major partners, Jewish Federations of North America (JFNA), and Keren Hayesod. Presently, every individual affected by injuries or property damage due to a terror attack is granted a $1,200 check from the Fund for immediate needs. It also offers long-term rehabilitation grants, totaling $6,300 per person, spanning up to three years, and provides continuous assistance to victims post-attacks.
Funds and philanthropists help Israel
Business magnate Mike Bloomberg has committed to matching all donations to Magen David Adom. As of Wednesday, Bloomberg had matched $7.5m. in donations, confirmed by a spokesperson.
On Thursday, E-Jewish Philanthropy reported that the investment management company, Blackstone Group, alongside several major US corporations, has pledged millions towards Israeli humanitarian relief efforts. Blackstone announced a commitment of approximately $7m. for Israeli aid in an internal email sent by company CEO Stephen Schwarzman and President Jonathan Gray.
In light of the ongoing conflict with Hamas, Israel introduced a Diaspora bond campaign, as seen in posts on social media platforms linked with Israel Bonds. “In these trying times, Israel Bonds is initiating an international campaign to bolster the Jewish state’s financial resources,” reads posts on platforms like LinkedIn, Instagram, and X (formerly Twitter). According to its website, Israel Bonds, the nation’s primary mechanism for Diaspora bonds, had $5.4 billion in outstanding bonds as of December 31, making up roughly 12% of the country’s external governmental debt.
This week, the C-Tech news site highlighted that various Israeli companies are contributing to war-related causes. For instance, Mobileye pledged NIS 5m. to nonprofits assisting southern residents. Israel’s Economic Leaders Forum accumulated NIS 28m. from approximately 250 companies, while Bank Hapoalim is setting up a zero-interest loan fund of NIS 750m.
Numerous philanthropists have privately funded Israeli initiatives in light of the Gaza conflict. Jewish Federations across North America have organized 120 solidarity events, relayed thousands of messages to political representatives, and updated thousands of Jewish leaders from the ground. The goal remains to unite across communities and political divides, ensuring maximal support for Israel in its time of need.
On Wednesday, President Isaac Herzog, while meeting with Jewish leaders, expressed his gratitude: “We are immensely grateful for your relentless efforts to advocate, support, and defend Israel globally – be it in political corridors, media, social media, or public forums. Knowing that the entire Jewish Diaspora stands by us in this crucial moment brings immense comfort.” The meeting in Jerusalem included JFNA President and CEO Eric Fingerhut, Goldstein, and Jewish Federations Senior Vice President of Israel & Overseas Rebecca Caspi.
REUTERS contributed to this report.
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