Telecommunications billionaire Patrick Drahi has reportedly moved from Switzerland to Israel, specifically to central Tel Aviv, for personal and family reasons.

Drahi has strong connections to Israel through his telecommunications company, Hot Telecommunication System, and the news channel i24News, which he founded in 2013.

This relocation coincides with ongoing tax proceedings in Switzerland, where authorities have been investigating Drahi for back taxes since 2022.

Additionally, Drahi faces financial challenges due to significant debt within his telecom empire, estimated at 5.5 billion francs.

The tax authorities are closely examining his residency, as Drahi has previously listed Swiss addresses in company documents and claimed residency in Zermatt from 2009 to 2016.

He has recently provided an address in Nevis and holds multiple passports from France, Israel, Portugal, and St. Kitts and Nevis.

Drahi's Altice Group, which previously controlled the Swiss internet and cloud provider Green, has encountered difficulties due to rising interest rates, impacting its expansion strategy funded by low-interest credit.