013 Billionaire Lost
Tel Aviv's global position as a wealthy city has taken a hit recently. According to investment advisors Henley & Co.'s "World's Wealthiest Cities" ranking, our vibrant metropolis has slipped from 42nd to 48th place over the past year. It's not just a minor statistical blip either - the city has experienced a decline across all wealth categories measured in the report.
The numbers tell an interesting story. Tel Aviv now counts 22,600 millionaires, down 8% from last year's 24,300. The ultra-wealthy tiers saw similar declines - centi-millionaires (those with over $100 million) dropped from 82 to 76, and we're down from ten billionaires to nine. While the city has still managed overall growth of 25% in its millionaire population over the past decade, that's actually fairly modest compared to other global wealth centers.
For context, the very top of this wealth ranking looks quite different from our Mediterranean bubble. New York claims the crown for most millionaires, followed by the San Francisco Bay Area, Tokyo, Singapore, and Los Angeles. Some cities are experiencing truly explosive growth - Shenzhen saw its millionaire population surge by 142% over the last decade, while Dubai grew its wealthy residents by 102%.
I was pondering these wealth statistics while grabbing a coffee at Hatachana - that’s the historical Jaffa Train Station, now an entertainment area with coffee places and restaurants surrounded with old train carts and preserved buildings from the end of the 19th century. It was the starting point for the industrial revolution in the Land of Israel, as more and more machines swept through the local economy and modernized it, ushering in a new era of prosperity. An era well felt as I was paying for my coffee, with its price steadily but surely going up and up in recent years, as Tel Aviv reached new levels of wealth. Perhaps it’s better to have lost a billionaire in the past year… Maybe it will put Tel Aviv back on a path to affordability.
My name is Tomer Chelouche and I've been guiding tours in Tel Aviv since 2008. I started out of fascination with my family history - the Chelouche family was one of the founding families of Tel Aviv. My ancestors built this city - and I'm telling its story.
The best way to get to know Tel Aviv better is by purchasing one of my audio tours. And I also have one more audio tour, that’s in Jerusalem. Though it only made 104th place in the number of centi-millionaires I mentioned, Israel’s capital city is a place considered holy by two billion people world wide, making it well within the worth-a-visit category. Here's one way to enjoy my audio tour in Jerusalem -
Jerusalem's Old City is a labyrinth of history waiting to be discovered, which is why I created a 90-minute walking experience that begins at Jaffa Gate, guiding you through all four quarters of the sacred city - Armenian, Jewish, Muslim, and Christian. You'll learn the true story behind the Tower of David, witness the Jewish Quarter's remarkable rebirth, and place your hands on the Western Wall while understanding the tradition of tucking notes between its ancient stones.
The tour follows Jesus's footsteps along the Via Dolorosa to the Church of the Holy Sepulchre in the Christian Quarter, after pointing out a replica of the golden Menorah that was looted from the Temple in the Jewish Quarter. You'll explore archaeological wonders such as the Cardo - the main Roman-era street when Jerusalem was called Aelia Capitolina - with its original artifacts still visible today. The compact route helps you navigate what can be an overwhelming maze of history, making sense of over three thousand years of overlapping stories in just one visit.
After working up an appetite exploring these sacred streets, I recommend treating yourself to a meal at Notre Dame Rooftop Cheese & Wine Restaurant. This hidden gem sits atop the historic Notre Dame building, originally constructed as part of the Modern-era French Quarter. Don't be fooled by the name - while they do excel at cheese and wine pairings, their menu extends far beyond these offerings into a full culinary experience.
The restaurant offers a European escape within Jerusalem, featuring a diverse menu that includes perfectly executed arancini balls swimming in parmesan cream sauce, fresh tuna fish adorned with black caviar, and a refreshing gorgonzola salad with citrus dressing and pears that add a delightful sweetness to the classic blue cheese flavor. For main courses, the sea bass fillet steals the show with its mysterious herb blend and perfect preparation, while carnivores can enjoy precisely cooked lamb chops alongside roasted vegetables.
What truly elevates this dining experience is the setting itself. With Jerusalem's ancient skyline sprawled before you, French music playing softly in the background, and attentive English-speaking staff, you'll feel transported to a European fine dining establishment while overlooking the beating heart of the Holy Land.
You can make sure you've downloaded my Old City of Jerusalem audio tour before you head out, or you can download it on the go if you're set with a data package allowing for uninterrupted internet access. There's a link in the show notes to purchase my audio tour -
The Four Corners of the Historical Old City: A Self-Guided Jerusalem Tour
If you have any questions - you’ll find all the ways to contact me on telaviv.tours (telaviv as one word, no space, no hyphen) and there’s a link in the show notes for your digital convenience.
June in Tel Aviv sees the urban landscape transforming into a botanical spectacle that rivals the cherry blossoms of Japan or Washington DC. Visitors to Tel Aviv this June be advised - the red blossom of the trees scattered across town will probably start early in the month as rainfall in the winter period of 2025 was less than anticipated. In Hebrew, the tree that gives this red coloured June blossom is called TZe’elon, on account of its wide canopy which gives much shade (TZel, in Hebrew). Scientifically named Delonix Regia, its popular name “Flame tree” is right on the nose - the flaming red flowers make the trees look like they are catching fire.
Tel Aviv has its natural cycle of blossoms, with the pink colored Orchid Trees in March and April and the lavender-coloured Jacaranda trees in April and May. But none of these match, in my opinion, the flamboyant red blossom of the flame trees you can find especially on Rothschild Boulevard, in Rabin Square and throughout the Tel Aviv University campus, as well as other spots in the city streets and parks. In celebration of the fiery blossom I adore, here’s a list of nature sites to consider on your visit to Tel Aviv:
1) HaYarkon Park - Tel Aviv's version of Central Park in New York City spans roughly the same size along HaYarkon River, making it Israel's largest urban park. The expansive green space features several distinct areas including the Rock Garden, which displays geological examples from all across the Land of Israel, as well as hundreds of species of plants scattered in the garden according to their geographic origin. The tropical garden houses one of the largest collections of cacti and succulents in the Middle East. For wildlife enthusiasts, the bird sanctuary attracts over 100 species throughout the year, while the adjacent botanical gardens showcase six different habitats. The park's eastern section remains wilder, offering a sense of countryside within the city limits. Locals love to jog or cycle through the park and you can join by renting a bicycle on spot. I also recommend packing a picnic to enjoy under the shade of the eucalyptus trees in a spot overlooking the Yarkon River - that’s Tel Aviv version of the Thames or Seine or Hudson, at a much smaller scale, of course. The park is particularly lively on weekends and holidays when families gather for barbecues and children's birthday parties, creating a quintessentially Israeli outdoor atmosphere.
2) Coastal Park Promenade - After years of planning and environmental restoration, this newly opened 2-kilometer promenade is the last bit added to Tel Aviv’s continuous coastal walkway. The promenade offers access to an impressive coastal ridge formation, providing breathtaking Mediterranean panoramas and encounters with local flora and fauna. The development involved extensive ecological engineering to preserve natural habitats, including nesting sites, soil erosion prevention techniques, and the enrichment of native plant diversity. The design thoughtfully integrates with the natural landscape through earth-toned concrete pathways, observation decks for contemplation, and intimate seating areas perfectly positioned for sunset viewing. Environmental considerations are evident throughout, from the low-profile lighting that minimizes light pollution to the planting of 300 mature native trees specifically selected to withstand the harsh coastal conditions of salt spray, wind, and intense sun. The entire promenade is accessible with a continuous path stretching up and down the park. For nature lovers seeking both wilderness and comfort, this promenade offers a perfect balance of ecological appreciation and thoughtful urban design.
3) HaHorshot Park - This vast green oasis that lies in the southern part of Tel Aviv is the former site of the Abu Kabir village, whose Arab residents left during the 1948 Israeli War of Independence. The park's first groves were planted over the village ruins, and remnants including restored ancient well houses can be seen in the area. After years of neglect, the Horshot Park underwent significant renovation in 2013, and in recent years it became a much beloved piece of urban nature in the city’s fabric. Visitors can enjoy mostly pine groves, some decorative citrus orchards alluding to Jaffa’s past, cycling paths and children's playgrounds with a zipline for those more adventurous. The park also includes a botanical garden and the nearby Russian Orthodox Church.
4) Independence Garden - Perched on a 20-meter high soft rock ridge, this seaside park wraps around the Hilton Hotel and carries deep historical significance. Archaeological excavations during its development uncovered remnants of an ancient fortress, providing evidence of early settlement in the area dating back to antiquity. The park itself transformed from British military usage during WWII to become an Israeli army base during the 1948 War of Independence. It served as the Israeli army’s first reception and sorting base, making new recruits into soldiers. After gradual decommissioning, the park was officially inaugurated in 1952 in the English garden style with sweeping lawns surrounded by dense shrubs. The sea view was central to the design, with the western section raised and planted with low coastal shrubs resistant to wind and salt spray, while taller trees occupied the lower eastern levels. Locals love to visit this park in the afternoon and wait for the sunset. It’s worth a visit, especially if you’re aiming for a new profile picture with a romantic backdrop of the sun setting into the waters of the Mediterranean.
Whether you're seeking a quick green break between museum visits or a full day of ecological exploration, these natural sanctuaries provide refreshing alternatives to the city's better-known beaches and boulevards. And if you're visiting in June, the added bonus of “Flame Tree” red blossom makes the experience even more memorable.
Thanks for listening and you’ll hear from me again when the next episode comes out next week.Until then - I am Tel Aviv tour guide Tomer Chelouche, signing off and hoping to see you soon in Tel Aviv.
Show note:
• The Four Corners of the Historical Old City: A Self-Guided Jerusalem Tour
