Wiz, an Israeli cloud security firm, was sold to Google for US$32 billion.

The four founders will receive about US$12 billion combined before taxes, or roughly US$3 billion each, and will route the proceeds into a joint family office that will accept no outside clients.

The office could manage between US$7 billion and US$8 billion, which would make it among Israel’s largest family offices.

Costica joined More in 2013 and became CEO and chief investment officer of its mutual funds in 2022.

🧠 Food for thought

Implications, context, and why it matters.

The founders’ $32 billion payday came from years of working together and an earlier exit

• The four founders have built companies before, with roots in an elite Israeli military program 1.
• In 2015, they sold their first cybersecurity startup, Adallom, to Microsoft for $320 million 1.
• They then stayed on to run Microsoft’s newly formed Cloud Security Group, learning how to grow a product inside a large tech company 1.
• They once turned down a $23 billion acquisition offer from Google, telling staff they were aiming for $1 billion in annual recurring revenue (ARR) and an initial public offering (IPO) 1.

Wiz’s exit is set to bring fresh money and clout to Israel’s tech ecosystem

• The founders plan to place proceeds from Wiz’s sale to Google into a joint family office with no outside clients; Calcalist said it could manage $7 billion to $8 billion 2.
• The deal strengthens a tight circle of founders, since Wiz has bought companies run by former colleagues, including Dazz 3.
• Selling after earlier IPO plans may nudge other late-stage private companies to weigh a strategic buyout as a steadier option than a choppy public market 1.
• The new money already appears to be rippling into housing, with the founders’ real estate purchases reportedly pushing demand toward larger, more private homes outside city centers 4.