"My father used to tell us stories about successful family businesses," David says. Paul Merage is chairman of MIG Capital which he co-founded with his son Richard and Greg Merage, a member of the extended family, while David Merage runs Consolidated Investment Group. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. "And we wanted to sell to an operating company that would retain our management team and other employees.". The David and Laura Merage Foundation has generously committed to providing continued support through 2022. Merage Israel: In 2000, together with Laura and my mother, Katherine, we began our philanthropic work in Israel. Redline is renowned in the Denver area for being Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified Merage Foundation Israels DeserTech has partnered with the Global Mechanism of the United Nations Convention to help African nations build the Great Green Wall. Throughout my college career, I pursued opportunities to learn about real estate investment and management, and quickly became adept at identifying and capitalizing on market trends as I built my real estate portfolio in southern California. David and Laura have two adult children, Jonathan and Sabrina. He approaches opportunities by asking not only what assets can we unlock but also whether we are the right fit in terms of corporate culture. (303) 789-2664. I kid you not. David and their father began investing in real estate while Paul was toiling away at General Foods. Meanwhile, Laura saw that many of her peers were isolated by their artistic interests. View the profiles of people named David Merage. He serves as chairman of MIG parent companies. Iranian Community in Israel: For more than 20 years we have promoted the advancement of the Iranian community in Israel mainly through women leadership programs and the exposure of the Persian culture to Israeli society. Specifically, we are currently working on two main programs: DeserTech: Our program aims to support the development and commercialization of climate change and desert technologies (such as AgTech, WaterTech, renewable Energy, and other sustainable innovations). Attentive to shifts in American culture, they noted two coalescing trends: Sales of microwave ovens were increasing as more women entered the workplace. [4], In October 2002, he sold Chef America to Nestl SA for $2.6 billion;,[2] at the time, the company had sales of $750 million and over 1,800 employees.[4]. She did not speak any Hebrew, she had no contacts, no money and was completely lost. . Echo has also invested in Stacked Wines, based in Southern California, which sells individually packaged, sealed wine glasses filled with quality wines, suitable for picnics or occasions when people don't want to open a bottle of wine. MFI's DeserTech Initiative Partners with United Nations. Reese Witherspoon Sold Her Los Angeles House to a Hot Pockets - DIRT Total expenses. In the early 1960s Paul and his younger brother David moved to the United States to attend the University of California at Berkeley. CIG holds one of the most diverse portfolios in the country in terms of product type and geography, investing in public equity, hedge funds, fixed income and real estate, both domestically and internationally. The Merage family /mrd/ is a wealthy Iranian Jewish family residing in Orange County, California. Facebook gives people the power to. 18 Inverness Place East, Englewood, CO 80112 It addresses new technologies in such fields as life sciences, security, military, IT, food/agriculture and Financial Transactions. November 21, 2022. "We run our philanthropy with the same discipline and high expectations as we do our business.". When Nestl bought Chef America, the company had sales of $750 million a year, employed 1,800 people and generated 6,000 jobs through its supply chain. I also believe it is my responsibility to contribute greatly of my time, my network and my business acumen. In February 2020, Michelle was sentenced to five months in prison. Its investment portfolio is currently valued in excess of $2 billion. It is my greatest joy to see our philanthropic commitment to Israel extend through three, and now four generations, of my family. Copyright 2015 by Family Business Magazine. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. Building on our early success, we soon began research and development of a frozen lunch product which we called the Hot Pocket and sold to schools, catering and vending companies. Paul and David decided Chef America should forget about breakfast and dinner as categories. David Merage | I'm Iranian The Hollywood superstar and entrepreneur opens up about the ways her haircare line is expanding and offers advice to other working professionals on how to succeed in business today. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". Joe's 55,000 square-foot home topped Paul's by 10,000 square feet. They called the sandwiches Hot Pockets and, in 1983, started marketing them to vending machines, catering businesses and schools. I guess UC Irvine wasn't prestigious enough? Soon after arriving in California, with absolutely no experience in the food industry and equipped only with ambition, drive, and the support of my brother and father, we founded Chef America, Inc., a frozen food manufacturer in 1977. Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified. In just one year, the company's sales increased by double digits. $54,535,566. After graduating from Sacramento State University with a degree in marketing, David began investing in real estate with his father and demonstrated a keen eye for identifying and capitalizing on market trends. Operation Varsity Blues college admissions scandal, Jewish Journal: "Photo Essay: L.A.s Iranian Jews repaying Alliances generosity" by Karmel Melamed, "Merage Jewish Community Center of Orange County, California", "Special Lecture by David Merage, Entrepreneur and Co-Founder, Chef America", "Nestle to Move HOT POCKETS and LEAN POCKETS Business to Ohio", "Hot Pockets heiress Michelle Janavs gets 5 months in prison in admissions scandal", "Admissions scandal: Heir to Hot Pockets fortune sentenced to 5 month", https://en.wikipedia.org/w/index.php?title=Merage_family&oldid=1131811897, Pages using infobox family with unknown parameters, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 5 January 2023, at 21:52. [3][4] His father ran an import/export business in France before he was forced to flee back to Iran prior to World War II. As a venture philanthropist, I always look for the highest social returns on my investment. David and Laura's 33-year-old son, Jonathan, has forged his own path as a storm chaser interested in extreme weather and its consequences. Merage family - Wikipedia Chef America Inc. Continuing The Value Creation Streak [4] Hot Pockets were manufactured in Englewood, Colorado, Chef America's former headquarters, until moving its business to the rest of Nestl's frozen business in Solon, Ohio. The David and Laura Merage Foundation is centered on the belief that education is the gateway to optimal life outcomes. Paul followed up with two brilliant brainstorms: 1) Paul realized that as more women entered the workforce, they wouldn't be home to fix their kids an after school snack. Merage is a member of the University Synagogue, a Reconstructionist synagogue in Irvine, California. "California felt like home," says David. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. From an early age, I knew I was destined to be an entrepreneur. CIGs permanent capital base allows the company to take a disciplined, long-term investment perspective. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. Jonathan attended Purdue University and conducts severe weather research throughout the country. David Merage, founder of the David and Laura Merage Foundation, joined prestigious business leaders . [3] He has four siblings: Louise, Camron, David, and Lin. In the mid-1990s, it relocated its headquarters to Englewood, Colo. David's family and the entire executive team made the move. Due to the company's success throughout the 1990s, the Merage brothers sold their business to Nestle in 2002 for roughly $2.6 billion. A collection of recent news, press mentions, and insights on the David and Laura Merage Foundation and our impact areas. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. My vision for Israel is a prosperous and cohesive society that is committed to the well-being of all its citizens. The boot camps are focused practical, best practices, on how to best introduce and promote new Israeli technologies in the U.S. to the mutual benefit of both nations. This is Paul Merage's 45,000 square-foot mansion: How did Paul Merage become a billionaire? David is married to Laura Merage, who was also born in Tehran. "I come from a family of entrepreneurs and trendsetters. Iran was not a promising country for entrepreneurs when Andre was starting out. What initiatives does your foundation support in Israel? Mirroring his approach to business, Davids philanthropic goal is to develop new systems or improve existing ones, select like-minded individual and organizational partners, and bring each project to successful completion together. This model allows Laura and I to be truly diverse in the types of programs and endeavors in which we become involved. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. ", Feeling tremendous pressure to keep the business growing at a rate of 15% a year, David and Paul talked about selling the company and spending more time on their philanthropy. How did they do it? In 2013, David Merage received the Ellis Island Medal of Honor, an award given to U.S. immigrants and native-born citizens who have made substantial contributions to American society. [citation needed], In 1961, at the age of 17, he immigrated to the United States to attend the University of California, Berkeley, where he earned a B.A. in economics and an M.B.A.[2], After college, he worked for nine years in a succession of increasing responsibilities in product management[5] at General Foods (now Kraft Heinz Company), Hunt Wesson and Specialty Foods where he was director of new products. We compare how we're doing in each of our operations to the 5% best companies in the U.S.", CIG currently has a staff of 74, including David's daughter, Sabrina, 29; his wife's nephew Ben Levy, 34; and Rob Nelson, one of six former managers from the Chef America team. What do you think is the role of philanthropy in the world today? Poring over thousands of historical documents, centuries of ancient texts, and Bible translations in many languages, the experts in the film conclude that two Greek words were mistranslated to mean homosexual. They soon learned there was already a big corporation called General Foods, and they changed the name to Chef America Inc. Andre was an investor and an adviser to the business. Feeling alone and searching for a sense of community, she pioneered innovative ways for artists to be part of a collective that gives them inclusion and support. That's enough to make them one of the richest families in America. Tell me about your professional path and how you incorporate your business experience in your philanthropic work. Merage - Family Business Magazine Our foundation works in two ways first through direct philanthropic investment and, secondly, through partnerships. However, I did not visit Israel until I was in my early 40s. Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. He brought his son and one of his brothers as co-founders. Americans fell in love with Belgian waffles. These young people have made significant sacrifices by leaving their homes and families to move to Israel and protect our Jewish homeland. I sought out my American dream and seized the opportunity to move overseas, diving fully into art education, learning from established artists and teachers, and experiencing museums and art institutions in the U.S. From then on, I devoted myself to the craft, using it as an outlet for self-expression. Deanne Stone is a business writer based in Berkeley, Calif. He and his wife Laura run the David and Laura Merage Foundation, which focuses on community development and early childhood education. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Wings ensures that these courageous, young individuals do not fall through the cracks of Israeli society, it offers a supportive safety net and helps them achieve their personal goals and aspirations. I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. Early Learning Ventures is building a network of over 600 high-performing child-care providers, making quality child care more accessible to American families. His management team is comprised of experts in the education and non-profit sectors, supported by senior-level finance, legal, management, and marketing professionals. As part of our Community Development division, we are leading four major programs. Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified place. On one European trip, the brothers discovered Belgian waffles. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. For almost 15 years, with the support of a dedicated local team, we granted millions of dollars in hundreds of projects, that touched the lives of hundreds of thousands of people, and turned the Negev into an attractive place to visit and live in. Their instincts were right. The company soon introduced over 30 flavors and variations, including Lean Pockets, Croissant Pockets and Breakfast Pockets. This allow us to remain lean and to scale rapidly in order to reach our full potential and benefit as many people as possible. Paulreferred to by David as a marketing geniuswas convinced that there was a big market for them in the States. Company leaders receive ongoing support in team building, empowerment training and practical assistance for events, activities and volunteering opportunities. Evoke Media continues to support documentaries and podcasts that drive social change. The firm has four areas of operation: private equities, public equities, commercial real estate and philanthropy. David Zalubowski, Associated Press Ivanka Trump, daughter of and special adviser to Republican President Donald Trump, wrapped up a two-day tour in Colorado by visiting a child care center near Denver on Friday to highlight the administration's affordable child care efforts. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. And that segues nicely into the actual article I ended up wanting to write. David and Laura Merage Foundation's philanthropic investments are focused on social change and result in children, families and communities improving the quality and circumstances of their lives. At some point in the early 1970s, the brothers were vacationing in Europe and had their first ever Belgian waffle. Chef America is known for being one of the most successful food companies in the world. The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack Born in Iran, they came to the U.S. in the 1960s as students and settled in California. It doesn't matter what it is; it has to be superb. I'm pretty sure the daughters could have gotten into UC Irvine without even submitting grades considering the business school is literally named after their grandpa! David Merage is a passionate venture philanthropist, and together with his wife Laura, has founded the David & Laura Merage Foundation which invests in social change resulting in children, families, and communities improving the quality and circumstances of their lives. After selling the company, Paul launched a private investment firm called the MIG Group. Once again, the brothers were back in the kitchen experimenting with recipes. Before the premiere at the DOC NYC Film Festival, the film garnered much media attention. She resides in Newport Coast, California. At 15, David attended secondary school in England. I hired a local team in Israel and our goal became to empower proud Iranians to stand on their own feet, integrate into society and become productive citizens of Israel. She paid $100,000 to have a proctor rig their ACT exam and she paid $200,000 to have one of the girls labeled as a fake volleyball recruit. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. The sale price? Records now reveal the buyer is Sabrina Merage Naim, an heiress to the fortune of tasty microwave snack Hot Pockets, which were invented and popularized by Naim's father David Merage and uncle Paul Merage in the 1980s. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . The team worked with internal stakeholders to identify program priorities, built connections to national incentives for guidance on actions and metrics for success and worked with local partners and experts to build upon years of engagement across creative communities to identify best practices. It was Paul who correctly predicted microwaves would soon proliferate in American kitchens, opening up a world of new product category opportunities. Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. In 1976, David Merage co-founded Chef America, Inc., a national frozen food manufacturer known for inventing and marketing products including Hot Pockets, Lean Pockets, and Croissant Pockets. Photo by Kathryn Scott Osler/The Denver Post via Getty Images. Early Childhood Education: The foundation is leading Early Learning Ventures, an initiative to enrich education for children ages birth to five years old. Shawn Naim - Add Relationship - LittleSis Nelson has worked with David for 30 years, as vice president of food services, sales and marketing at Chef America and, since 2005, as a member of CIG's executive team. Similar to MIG, the CIG Group also invests in commercial real estate, capital markets and private equity. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. Wei Ing-Chou, Ying-Chiao, Yin-Chun & Yin-Heng, Mike Tyson Wants WWE Match With Logan Paul, Talks UFC-WWE And Launch Of Tyson Pro, What To Know About This Years Met Gala: The Theme, The Co-Chairs And Whos Attending, Donald Trump Seeks Mistrial In E. Jean Carroll Rape Trial, American Idol Viewers Send Judges Message With Top 10 Live Vote, Shanghai Xintiandis Billionaire Developer Sticks With Winning Formula, Linking Old And New At Water Town, Several Lengthy Playoff Runs Raised The Bar Very High For Tampa Bay Lightning, JPMorgan Stock Set For Second-Best Day This Year After First Republic Takeover, Chicago White Sox Are Plunging Toward Their Worst-Case Scenario, Celebrating 100 Years: Ralph Senensky, TV Director, Reaches The Century Mark, Jennifer Aniston Discusses LolaVies First Retail Partnership With Ulta Beauty: It Is A Huge Step. Along with my wife, Laura, I formed the David and Laura Merage Foundation, whose mission is to promote self-sufficiency through education and community involvement. In 1979, my mother put me in touch with a family friend. We also supported through capital projects such the establishment of a Rehabilitation Center in Sderot, and the Dimona Medical Center, which covers over 20,000 patients a year and offers the community10 dialysis beds and emergency support after hours. The scheme was uncovered before the girls were actually admitted. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. Their primary funding interests include early childhood education, economic development in Israel, weather research, and educational programs for young people that promote tolerance and diversity. Merage family - Forbes David and Laura's philanthropic passion started years prior to the formal funding of the organization. My family represents three generations of philanthropists that began with my parents, and we are now working on a fourth generation: my grandchildren! Who was the person who could afford to pay $15 million for two undeveloped plots of land in Newport's most-expensive gated community and then proceed to build a White House-sized mansion on a hilltop overlooking the ocean? I believe that philanthropists must also know that things change, evolve, advance, and that they certainly dont have all the answers about the needs and solutions of the communities they serve. 1946 investigates how the word homosexual entered the Bible, how one man tried to stop it, and how a team of researchers recently unearthed evidence that challenges deeply held beliefs about LGBTQ+ people. A decade later, they made an astute observation that would change their lives. Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. They would often arrive to Israel in the middle of the night with children and grandparents, exhausted and confused. Although the brothers had no experience in developing food products or designing machinery, they were undeterred. He has been board member and a leading donor for the Pacific Symphony and has served on the board of the Orange County Performing Arts Center. ", Philanthropy is the fourth CIG operation and, David stresses, is equal to the firm's other operations. Spoiler alert, that person is named Joe C. Wen. Our movie is more than just theology. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. As the Nazis approached France, the Merage parents made the wise decision to get on a boat and move to their native Tehran. Yet another amazing example of a massive fortune made from a totally random business. 18 Inverness Place East, Englewood, CO 80112. There are four rules that I absolutely live by without compromise. After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. I knew I was destined to become an entrepreneur and it would happen here.". When I was in high school, the mark of a really fun Friday night with the boys was a tray of Hot Pockets sliding into the microwave. [3] The Sabrina Merage Foundation is proud to announce its newest Program Related Investment with Erin Bernhardt and her film, currently titled CLARKSTON: Mother of Exiles. Our foundation, headquartered in Denver, Colorado, is centered on the belief that education is the gateway to optimal life outcomes. [1], Merage was born in Iran in 1943 to a Jewish family,[2] the son of Katherine and Andre Merage. And, as any late night Hot Pocket consumer can confirm, the true mark of a successful late night Hot Pocket feast was waking up the next morning feeling like someone had scorched the top of your mouth with a blowtorch. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. [4][2] In 1977, the company had $12 million in sales and was the largest mass-producer of frozen Belgian waffles in the US. As a mark of their business acumen, David and Paul never raised the original price of Hot Pockets, even though they improved the quality and increased the varieties over the years. David and Laura are natives of Tehran, Iran, who immigrated to the United States in their early teens with hopes of a better future. Paul set up an in investment firm in Southern California, and David started Consolidated Investment Group (CIG), an investment management company in Denver that invests for a select group of clients. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. That same year the brothers decided to sell the business to Nestle. Its society. David Merage is one of the many remarkable Iranian American Jews in who through hard work and creativity have achieved the American dream. "He surrounds himself with exceptionally capable people and then gives everyone opportunities to learn, contribute and succeed. Total revenues. Outside of their investment firms, the brothers also dove head-first into philanthropy. Chef America wanted a more central location between its California and Kentucky manufacturing operations. In 2020, Sabrina founded Evoke Media as a subsidiary of SMF in order to create connection, cultivate conversation, and drive social impact through the power of storytelling. The daughter of Paul Merage, who co-founded Chef America Inc. with his brother and created the Hot. Related: 10 Ways to Make Money During the Pandemic Ali and . My parents have always been involved in supporting Israel and the Jewish community in Iran. Meet David & Laura - David & Laura Merage Foundation Founded in 1977, the company behind the microwavable meals,. Founder of Consolidated - Early Learning Ventures | Facebook Wings: For the past 15 years, the Wings Program has been providing immigrant youth and lone soldiers with the tools they need to enter Israeli society as confident and active citizens. DAVID AND LAURA MERAGE FOUNDATION ENGLEWOOD, CO 80112-5622 | Tax-exempt since June 2003 EIN: 45-0493925 Classification(NTEE) Private Independent Foundations (Philanthropy, Voluntarism and. The films director, Sharon Rocky Roggio, was even interviewed by the Daily Beast. Between the four brothers, the family is estimated to conservatively be worth more than $5 billion. David's wife, Laura, also born in Iran, is an artist who has a strong presence in the Denver art community. Want To Make $15 Billion? Paul Merage's daughter Michelle Janavs, a food executive who was at one point regarded as the Hot Pockets "heiress," was later implicated in the notorious Operation Varsity Blues college admissions scandal and later sentenced in February 2020 to five months in prison after pleading guilty to paying Rick Singer $100,000 to fix test scores for her Where Is Michelle Janavs After Her Operation Varsity Blues - Bustle David and I share a tenacious, hands-on approach to philanthropy, investing our time, capital, business acumen, and problem-solving . and the original The Fugitive and Dynasty to lighter family-themed comedic programming like The Partridge Family, The Courtship of Eddies Father and Nanny and The Professor. It has been shown that youth teaching technology to seniors fosters generational connections while promoting happier, more confident lifestyles. Financial Aid Is Changing. 2) The snack they created needed to extremely easy for kids to make and eat on their own. As such, Governor John Hickenlooper proclaimed May 11th as David Merage Day in Colorado. At the age of 15, he traveled to England to pursue his studies and then completed his formal education in the United States with a Bachelor of Science degree in Marketing from California State University. Its politics. 18 Inverness Place East, Englewood, CO 80112. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. In 1974, David and Paul formed a company in Southern California, which they originally called General American Foods.
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