Palm Beach County and Florida Have Purchased Nearly $400 Million in Israeli Bonds Since Start of Israel-Hamas War

Palm Beach County and the state of Florida have purchased nearly $400 million combined in Israeli bonds in an effort to support the Jewish state in its war against the Palestinian militant group Hamas.

Joseph Abruzzo, the county’s circuit court clerk and comptroller, announced Tuesday that the county purchased $135 million in Israeli bonds, the largest single bond purchase in Israeli history.

Palm Beach County first purchased $25 million worth of bonds on Oct. 11, the first local government in the U.S. to do so following Hamas’ attack on southern Israel that killed some 1,400 people. Tuesday’s purchase brings the county’s investment to $160 million.

“What does this mean for Palm Beach County taxpayers? It means an incredible return, with a very strong and safe investment,” Abruzzo said in a news release. “To make that investment with our greatest ally, in one of the safest investments we can make – as Palm Beach County’s treasurer and CFO, it’s a win.”

In addition, the state treasury has invested $200 million in Israeli bonds, including a purchase of $120 million announced Tuesday.

Since 2017, the state has purchased some $310 million total in Israeli bonds.

“As we’ve seen throughout history, Democracy and freedom are fragile, and Florida proudly stands with Israel, the only democratic nation in the Middle East,” said Florida CFO Jimmy Patronis. “My heart goes out to the people of Israel and Jewish Americans throughout our country, and I continue to encourage other state treasurers to support Israel by purchasing Israel bonds today.”