Early Life
Dan Gertler was born in Tel Aviv, Israel, on December 23, 1973. He is the grandson of Moshe Schnitzer, the first President of the Israeli Diamond Exchange. Gertler learned the diamond business from a young age, spending time with his father and grandfather. He served in the Israeli Defense Forces before starting his own diamond business.
Rise to Success
Gertler founded Dan Gertler International (DGI) in 1996. His business career expanded to include diamond and copper mining interests in the Democratic Republic of Congo (DRC). Gertler's connections with the Congolese government, particularly with Joseph Kabila, enabled him to secure lucrative mining concessions. He invested in various sectors, including iron ore, gold, cobalt, oil, agriculture, and banking. By 2022, Forbes estimated his fortune at $1.2 billion. His influence in the DRC's mining sector led to international scrutiny and legal challenges, including U.S. sanctions under the Global Magnitsky Act.
Key Business Strategies
Gertler's business model relied heavily on cultivating close relationships with political elites in the DRC to secure mining concessions. He would acquire licenses at favorable prices and later sell them to multinational companies. This approach, while successful in amassing wealth, drew criticism and accusations of corruption. In 2017, he sold his stake in two mines in the Congo to Glencore for $960 million.
Philanthropy
Gertler established the Gertler Family Foundation in 2004. The foundation supports various projects in the DRC, focusing on healthcare, education, infrastructure development, and emergency assistance. He also donates to several religious organizations.
