Diamonds, money, significant scandals. How Lev Leviev conducts business

The tale of Lev Leviev is truly remarkable and engaging. A person from Uzbekistan managed to establish himself in the global community, amass a large wealth through diamonds, and become acquainted with Trump and Putin. Naturally, this is accompanied by illegal activities, a black market, and shady schemes. How Leviev achieved success is detailed in our report.

Path to success

Lev Leviev was born in 1956 in Tashkent, and at the age of 15, his family relocated to Israel. He started a diamond polishing company at a young age. As time went on, his business expanded, he entered the African market, and established the Africa-Israel enterprise. Leviev began purchasing precious stones directly, bringing them to Israel, and then preparing them for sale. This approach enabled significant profit growth and transformed the enterprise into a comprehensive entity involved in the acquisition, cutting, polishing, and distribution of precious stones.

Following the dissolution of the Soviet Union, the entrepreneur decided to enter the CIS market, particularly in Russia. However, the 1990s were tumultuous, requiring political connections or agreements with authorities. Leveraging his connections, Leviev managed to establish contact with President Boris Yeltsin, allowing him to enter the Russian market.

Boris Yeltsin

In the domestic market, Leviev firmly established his presence in the precious stone trade, but he aspired for more. The diamond mogul aimed to expand his political influence, garnering support from the Jewish community and investing in the establishment of Jewish schools across the CIS.

In 1999, the shrewd businessman recognized Boris Yeltsin's impending departure and began supporting the then relatively unknown Vladimir Putin. Thanks in large part to Leviev, the current Russian president was elected for the first time. The Jewish businessman financed Putin's campaign and urged the local Jewish community to support him. As a result, Putin became president, and Leviev gained a close ally in the leader of the world's largest state.

Putin with Leviev (center)

Like a true entrepreneur, Leviev invested in multiple markets simultaneously. In addition to the Russian market, he also ventured into US real estate, where he crossed paths with future President Donald Trump. Undoubtedly, these influential connections aided Leviev in establishing a highly profitable business in the valuable stone trade.

Leviev with Trump

conflict diamonds

As with any multi-billion dollar industry, the trade in precious stones carries numerous risks and challenges. Diamonds are sourced from less developed nations, where the well-being of individuals and fair wages are not priorities. Through this inhumane approach, immense profits are reaped by business owners. Leviev's callousness even in this relatively harsh business is astonishing. The tycoon is the proprietor of multiple precious stone deposits in Angola and also engages in diamond trading from the African nation. Consequently, the countries' economies are directly tied to Leviev's business. This allows the authorities to avoid accountability for various transgressions. Harrowing conditions prevail on his properties, with individuals toiling for nearly 14 hours a day under perilous circumstances. Any misstep leads to brutal retaliation by armed guards. Diamond mining in Angola represents the epitome of exploitation and slavery.

Problems with law

A real detective story around Leviev’s business started spinning in 2018. The businessman’s son and brother were detained on the smuggling of diamonds worth more than $80 million. As it turned out, Israeli law enforcement officers monitored the family business for a year, fixing the illegal transactions of the Levievs. But even here some very inconvenient information surfaced. It turned out that the Jewish schools created under the auspices of Leviev, which we mentioned earlier, were not a gesture of goodwill. The ruthless merchant used them as a base for the supply of smuggled diamonds, and later sold them in the CIS countries. The Diamond King was forced to leave Israel and now lives in the UK with his family.