CEO Philippe Zivan Sussholz continues family tradition of philanthropy

By Tara J. McKenna

Philippe Zivan Sussholz, G.G., director and CEO of Israel-based Yahalomei Espeka International Ltd. (YEI), diamond manufacturer, exporter and DTC sightholder, has given $100,000 to GIA’s Endowment Fund.
 
Sussholz chose to designate his contribution toward GIA’s diamond research on synthetics because of the threat undetected synthetics pose to the stability of the gem and jewelry industry.

“I am well aware of the possible dangers to our industry. I remember studying about the introduction of synthetic sapphire and ruby and I recall that prices of natural rubies rocketed once the synthetics were identified,” Sussholz said. “I see it as a mission of our generation to support the kind of activity that helps us identify what we’re dealing with and maintain the wonderful industry we all make a living from.”

Sussholz began his career as a salesman working for his father, Abraham, who founded Yahalomei Espeka, in 1969. There was only one other employee at the company when Sussholz joined the business in 1982. He took over as director and CEO when his father retired in 1996.

Today, YEI employs more than 2,050 people in Israel, Hong Kong, China and the United States and is known for the “Espeka Language,” a method Sussholz created that uses numbers to describe a diamond’s size, clarity and color, so his customers would feel as confident placing an order over the phone as they would in person.

Sussholz will be inducted into GIA’s League of Honor in 2005 in recognition of his company’s gift. He says the contribution is an extension of a family tradition they have observed over the years.

“I believe in philanthropy because I feel I was gifted by society and it is my duty to give back,” he said. “Philanthropy has long been a Jewish tradition and we give to many Jewish purposes in Israel. It is my pleasure to also donate money to an Institute my business is related to.

“I hope GIA will make great use of this money and, in the course of the years to come, find a definite way to identify all synthetics.”

Sussholz is one of several industry leaders who have donated to GIA’s Research efforts this year. Concern over beryllium-diffused sapphires and diamond synthetics have been the catalyst for such charitable donations.

“We are delighted leaders of the industry recognize the importance of GIA’s research and support our ongoing efforts to protect the trade and ensure the public trust in gems and jewelry,” said Jane Lynch, director of Institute Relations. “Gifts like the one from Yahalomei Espeka International will help us to continue and expand this important research.”