Last month, a Jewish-Canadian billionaire who made his initial fortune thanks to the “grass head” craze made a significant Jerusalem home purchase. Ronnen Harary bought a century-old villa in the Talbiya neighborhood from American-Jewish billionaire and hedge fund manager, Michael Steinhardt. This purchase came just a year and a half after he bought a penthouse in central Tel Aviv for around NIS 23 million.

By Dror Neer Kastel, Nadlan Center

On April 10, Jewish-Canadian toy tycoon Ronnen Harary made a newsworthy Jerusalem home purchase when he bought a historic 100-year-old villa in Jerusalem’s Talbiya neighborhood for NIS 79 million. The seller is none other than Michael Steinhardt, the American-Jewish hedge fund pioneer and co-founder of the Birthright program.

Located at 3 Hovevei Zion Street, the property is a preserved 650 sqm structure with distinctive architectural design, situated on an 860 square meter plot featuring a wraparound garden with lawns and fruit trees. The home includes spacious residential suites and a separate guest unit. It boasts hand-crafted woodwork, original floor preservation, and thick walls for natural temperature regulation. Built in the 1930s, it was once home to the extended family of renowned philosopher Martin Buber.

This is not Harary’s first high-end real estate transaction in Israel. In October 2023, just days after the October 7 Hamas massacre and the onset of the Iron Swords War, Harary purchased a penthouse at 12 Mazeh Street in central Tel Aviv for approximately NIS 23 million.

Harary (53), who was born in South Africa, is the founder of Spin Master, a global toy and entertainment powerhouse now valued at over $2.5 billion and listed on the Toronto Stock Exchange. The company is behind iconic brands like PAW Patrol—an animated series, toy line, and feature film—as well as Bakugan, Hatchimals, and Air Hogs. According to Forbes’ 2022 rankings, Harary’s net worth was estimated at $1.1 billion. Since its 2015 IPO, Spin Master has grown to employ around 1,600 people, with offices in Australia, Canada, China, France, Germany, and roughly a dozen other countries.

As Harary shared in a podcast interview with journalist Aviv Frenkel last year, his entrepreneurial journey began with inspiration from Israel. In the 1990s, his Israeli-born mother showed him a Yedioth Ahronoth article about the “Grass Head” craze that had taken Israel by storm. Discovering that the concept wasn’t trademarked, he partnered with two others to introduce “Chia Pet”-like Grass Heads to North America. After an initial investment of $10,000, the product achieved $1.5 billion in first-year sales across the U.S. and Canada.

In this Jerusalem home purchase deal, Harary was represented by attorney Alon Volner of Barnea Jaffa Lande, while Steinhardt was represented by attorney Yonatan Schiff of Reshef & Schiff.