Assaf Rappaport, co-founder and CEO of Israeli cybersecurity giant Wiz, has purchased an 8-dunam (approximately 2-acre) estate in the upscale town of Rishpon for around 40 million shekels ($12.8 million), marking a rare personal real estate move by one of the country’s most prominent tech figures.
Rappaport, who is widely known for his modest lifestyle, has lived for more than a decade in a rented apartment in a central Tel Aviv building with no elevator or private parking. Despite being one of Israel’s wealthiest entrepreneurs, he does not own a car and regularly uses public transportation or walks.
His recent property purchase comes in the wake of Wiz’s acquisition by Alphabet, Google’s parent company, for a reported $32 billion. Rappaport, believed to own roughly 10% of the company, could earn as much as $3.2 billion from the deal before taxes.
Friends of Rappaport say his lifestyle reflects personal preference rather than necessity. “He’s perfectly happy where he is,” said a childhood friend. “Even his landlord, who’s over 90, knows exactly who he is and hasn’t raised the rent a bit.”
Wiz, founded by Rappaport along with Ami Luttwak, Roy Reznik and Yinon Costica, has become one of the fastest-growing cybersecurity companies in the world.
Luttwak, another co-founder, recently made his own real estate investment, purchasing approximately 3.5 dunams of land in the northern town of Binyamina for 28 million shekels ($9 million). The land, located near the Binyamina winery, was acquired in two separate deals from long-time residents and includes three existing homes.