Joseph Kay Chairman of the Board of Directors of the investment bank London International Bank and President of Fisher Island Holdings LLC Date of Birth: 19.05.1958 Country: USA

1. Biography of Joseph Kay
2. Early Life and Career
3. Role at ORT
4. Fisher Island Holdings LLC
5. Business Ventures
6. Philanthropy and Public Activities
7. Controversy with Patarkatsishvili's Family

Biography of Joseph Kay

Joseph Kay, born around 1955 in the Georgian SSR, is an American citizen and an investment banker. He is the chairman of the board of directors of the investment bank London International Bank and the president of Fisher Island Holdings LLC, which owns the most prestigious resort in Miami - Fisher Island.

Early Life and Career

Joseph Kay, originally named Iosif (Soso) Kakalashvili, was reportedly the step-nephew of Badri Patarkatsishvili, with whom he had a step-cousin relationship. As a teenager, Kay emigrated to Israel and later moved to the United States, where he obtained American citizenship. For twenty years, Kay's family did not maintain a relationship with Patarkatsishvili or his own parents. It was only after the fall of the Soviet Union that Patarkatsishvili traveled to the US and "reconnected" with Kay. In the early 1990s, Kay was involved in the trade of jewelry.

Role at ORT

In the mid-1990s, Kay went to Moscow and became the head of the commercial department of the Russian Public Television (ORT). According to experts, Kay was invited to the television company by his relative Patarkatsishvili, who was the deputy director-general of ORT at the time. Kay was known to carry out confidential tasks assigned by Patarkatsishvili. The exact date of Kay's departure from ORT is uncertain, with some sources suggesting that he was expelled from the company.

Fisher Island Holdings LLC

In 2000, Kay founded a private residential complex on Fisher Island, an artificially created island in Biscayne Bay, across from Miami Beach. By 2005, Fisher Island had become known for its high concentration of wealthy individuals. Kay's company, Fisher Island Holdings LLC, acquired the entire island and its development rights in December 2004. Fisher Island was recognized as one of the most expensive places to live in the United States.

Business Ventures

Kay was involved in various business ventures, including retail trade, commercial and investment banking operations, elite real estate investments, steel production, sugar refining, and media companies. The total assets of the companies he managed and advised were valued at over one billion dollars.

Philanthropy and Public Activities

Kay was known for his philanthropic and public activities. He co-organized the Shimon Peres Peace Center with the President of Israel, Shimon Peres. Kay also played a significant role in the economic relations between the United States and Georgia, including projects associated with Georgian President Mikhail Saakashvili.

Controversy with Patarkatsishvili's Family

Following the death of Badri Patarkatsishvili in 2008, Kay became involved in a legal dispute with Patarkatsishvili's widow, Inna Gudavadze, and her daughters. They accused Kay of using fake documents, including Patarkatsishvili's will, and demanded that he stop referring to himself as the executor of Patarkatsishvili's estate. The lawsuit resulted in a victory for Patarkatsishvili's family, with Kay admitting in court that he had no right to claim executorship.

Overall, Joseph Kay's career has been marked by his involvement in the financial sector and his ownership of Fisher Island Holdings LLC. He has been recognized for his philanthropic efforts and his role in economic relations between the United States and Georgia.