The crash of SVB, Silicon Valley Bank, has sent shock waves throughout the financial and hi-tech worlds, and that includes Israel. PLenty of Israeli hi-tech companies, and investment funds, surely held some money in SVB, not even including the few companies that recently spoke about moving their money out of Israel, and lost some, or a lot of, money in the crash. Maybe some will be recouped in the near future when the bank will be bailed out, but surely some will remain lost, and nothing can really make up for the anguish they are all going through over the fear and uncertainty.
All that being said, there is a victim that is totally unexpected.
Kikar is reporting that it seems some wealthy Jews who are supporters of yeshivas and kollels in Israel were heavily invested in SVB and held a lot of money in the bank, and spoke to someone connected in some way that many of these gvirim invested there did not pull their money out in time and are in a predicament.
The concern reported on in Kikar is because of the crash of SVB with the loses of the invested gvirim, many or several yeshivas and kollels in Israel will crash as well, from the domino effect.
I do trust that the yeshivas and kollels will mostly survive this, and hope the gvirim and everyone else invested will come out only minimally scathed, but I must say this victim was unexpected.
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