Israel's new PM Naftali Bennett made his name as a millionaire tech founder
Naftali Bennett yesterday became prime minister of Israel, succeeding Benjamin Netanyahu, after his power-sharing government survived a vote of confidence.
Why it matters: Bennett becomes Israel's first new prime minister since 2009, and he takes office as Netanyahu stands trial for corruption.
Background: While still in school in 1999, Bennett and three friends decided to launch a startup — without having a plan beyond wanting to capitalize on the internet gold rush. The company would become Cyota, which began as a provider of payment solutions to banks but would later pivot to cybersecurity and anti-fraud solutions for financial institutions.
A source familiar with Bennett from his Cyota days says that he was more of an execution guy than a vision guy, and he was adept at getting along with a team that had very different views (including political ones).
Between the lines: "He mentions his tech experience all the time, giving examples of how he established his startup," says Axios from Tel Aviv's Barak Ravid. "It was even more so during COVID, when he was trying to come up with ideas the government didn't think about."
