At the moment, he's being challenged by two newcomers -- Yair Lapid and Naftali Bennett.
Yair Lapid's newly-formed centrist Yesh Atid party surprised observers by coming second with 19 seats.
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Yesh Atid, led by journalist-turned-politician Yair Lapid, is credited with 18 or 19 seats.
On his Facebook page, Yair Lapid, the leader of Yesh Atid, says the coalition agreement will be signed "probably tonight".
The statement issued by Mr Netanyahu's office on Monday said Finance Minister Yair Lapid would instruct officials to transfer outstanding funds.
For the moment, Yair Lapid and his Yesh Atid (There Is a Future) party, bring unique street credibility to the Knesset.
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Analysts say the 18 or 19 seats predicted for Yesh Atid, headed by journalist-turned-politician Yair Lapid, is a stunning result for a newcomer.
Yair Lapid has said he will not join any bloc aimed at preventing Israeli Prime Minister Benjamin Netanyahu from forming a new coalition government.
It is led by a popular television personality called Yair Lapid.
And although you have not announced any calls to read out, has the President spoken with Mr. Netanyahu and has the President spoken with Yair Lapid?
However, its leader, popular former TV presenter Yair Lapid, has demanded reform of a law under which ultra-Orthodox Jewish seminary students can defer their military service.
Yair Lapid, a longtime prominent journalist whose late father, Tommy Lapid, led Shinui, a onetime secularist party that took on the influence and power of the ultra-Orthodox.
These two parties, together with former newsreader Yair Lapid's new Yesh Atid (There is a Future) party, represent a surplus of centrist groups with limited ideological differences among them.
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Party leader Yair Lapid, a former television anchorman, campaigned on middle-class issues like the high cost of living, and also criticized Netanyahu's outgoing government for including too many ministers.
The security veterans' recent critiques fit into the same pattern, and they may boost the political aspirations of newcomer Yair Lapid, whose background is in media rather than the battlefield.
Netanyahu announced on Wednesday three top priorities straight from the playbook of a new and surprising centrist rival, Yair Lapid, as he starts to pursue the formation of a new government.
Yesh Atid's leader is a dynamic figure -- Yair Lapid, a longtime prominent journalist whose late father, Tommy Lapid, led Shinui, a onetime secularist party that took on the influence and power of the ultra-Orthodox.
In the new cabinet, it is believed Yair Lapid - a former TV presenter who leads Yesh Atid - will be finance minister and Jewish Home's Naftali Bennett, a high-tech millionaire, will be economic and trade minister.
If Netanyahu fails to reach a government in two weeks, political newcomer Yair Lapid who heads Yesh Atid, Israel's second largest party, could be offered the chance to form the coalition, or new elections could be held.
In January's election, new politicians such as Yair Lapid, finance minister, rose to power on promises to help the middle class at a time when Israel needs to cut spending and raise taxes to close a growing budget deficit.
The election's biggest surprise was Yesh Atid, or There is a Future party, which was formed just last year by a centrist former television anchor, Yair Lapid, and is forecast to take second place with 18 seats, from none.
The biggest surprise of the elections was the newly-formed Yesh Atid Party (There is a Future), led by Yair Lapid, which gained 19 seats, and the Labor party which also managed to increase its number of seats slightly to 15.
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