Loading the player...

Warren Buffett, billionaire iconic investment guru and head of Berkshire Hathaway, will reportedly travel to New York this week to push for the purchase of about $140 million in Israeli government bonds. As one of the most famous living investors, Buffett's every financial decision is newsworthy, and his anticipated encouragement regarding the Israeli bonds, reported on by the Jerusalem Post, is likely to draw followers. Given the reports that Buffett himself owns about $5 million in these bonds within his personal portfolio, it's likely that his highly-public support of the bonds will create fierce competition among prospective buyers.

Buffett to Hold Private Meetings in Support of Bonds Purchases

According to reports, Buffett will speak at events to be attended by business leaders who have indicated their intention to each make new Israel bond investments of $1 million to $5 million. This information was provided by Israel Bonds, the agency responsible for underwriting the bonds for the United States. The investors in question come from a variety of countries, including the U.S., Mexico, Canada, and Brazil. (A great read: "The 'Next Warren Buffett' Curse is Real."

Buffett has already been outspoken in his support of these purchases, saying that "the purchase of Israel bonds is a sound investment and a deserved endorsement of a remarkable country. Israel started from absolute scratch when it was established 69 years ago, and look where it is now." Buffett continued his statement in advance of the events with further support of Israel as a country, stating that "there is no other country in the world that has gone as far in such a short period. In the process, Israel has become a showcase of what can be done when you unlock an ocean of human potential. I like backing winners and am happy to own the bonds of Israel."

Previous Efforts in Omaha Raised $60 Million

This is not the first time in recent months that Buffett has spoken out in support of Israeli bonds. Last November, Buffett engaged in similar efforts in his hometown of Omaha, Nebraska, successfully raising more than $60 million in investor interest for Israeli bonds. At that time, the billionaire suggested that the U.S. and Israel "have a common destiny."

Buffett acquired the Israeli company Iscar as his first overseas acquisition back in 2006. Berkshire Hathaway has owned Israeli bonds since 2012, the time at which the conglomerate bought up GUARD Insurance. Total Israeli bond sales since 1951 exceeded $40 billion earlier this year. For 2016, U.S. sales of the bonds totaled more than $1.12 billion. Israel Maimon, the president of Israel Bonds, indicated his feeling that Buffett's support would "[help] to ensure that the State of Israel will continue to prosper and will continue to be a model of innovation and economic growth for decades to come."

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.