MK Erel Margalit retires from Knesset following failed party election

Today, millionaire entrepreneur MK Erel Margalit, who previously ran for the head of the Israeli Labor Party, announced his retirement from the Knesset after 5 years of public service.
Margalit Photo credit: Youtube/ Channel 2 News

Today (Tuesday), MK Erel Margalit, who previously ran for the head of the Israeli Labor Party, announced his retirement from the Knesset after 5 years of public service. Margalit was a member of the Finance Committee and the Defense Budget Committee.

“It’s not a secret that I wanted to be elected for the head of the Labor Party and run for the Prime Minister’s office,” Margalit wrote on his Facebook page. “The members chose differently and I respect their choice.”

“The decision to move into the political world stemmed from a desire to turn entrepreneurial activity into a national agenda,” the millionaire MK added. “To give every region of Israel the opportunity to tell its unique story and create thousands of new jobs for young people.”

Margalit will return to chair the Bakehila organization, which helps children in disadvantaged neighborhoods to succeed through education and extensive communal activity. At the same time, he will return to serve as the Chairman of the Jerusalem Venture Partners investment fund that he founded.



Click Here for more reports by Daniel Gilenson

Found mistakes in this report? - Click Here

JerusalemOnline News Feed