Sheldon Adelson, the richest Jew in the world, is betting on the success of a free newspaper in Israel.
Adelson, whose fortune is estimated at $15.6 billion, is negotiating to buy 100% of the newspaper Israeli, which is handed out free of charge at bus and railway stations, and at gas stations and crossroads.
Israeli is Adelson's first investment in Israel. He purchased 50 percent of the paper six months ago from Shlomo Ben-Tzvi, and now wants to buy the rest.
Adelson is expected to invest $60 million in the venture over the next three years.
Ben-Tzvi denied the report, saying: "I am not selling my shares in Israeli."
Hirsh Media, the paper's publisher, refused to comment.
Other famous Jews are invested in the newspaper, including Ron Lauder ,heir to the Estee Lauder fortune.
Israeli distributes 130,000 copies a day, with 16-20 pages per edition.
