They spent months testing and perfecting a recipe for frozen waffles. A Teeny Tiny Blemish There's just one. The Denver Post has recently praised RedLine Art Center and Black Cube Head Quarters for their daring new exhibits. "I've been fortunate to do what I love for the past 40 years and derive such joy from my work. "What I've learned from working with David," he says, " is that product quality is king. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. At the time, Sabrina was just graduating from college and thinking more about her career. Evoke Media continues to support documentaries and podcasts that drive social change. She founded RedLine, a non-profit gallery that offers educational programs, art activities for people in the community, and gallery exhibition space for emerging and established local artists. [1]. Financial Aid Is Changing. Michelle Janavs served time in prison after being convicted for her involvement in the scheme. However, I did not visit Israel until I was in my early 40s. 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. By 2002, their company, Chef America Inc., was one of the most profitable privately held food companies in the world; the brothers sold it to Nestl for $2.6 billion. Over the last two decades, not only have David and Laura continued to deepen their philanthropic commitment, they are also honoring their ancestors who taught them the value of giving back by cultivating generational philanthropy with their children and grandchildren. The scheme was uncovered before the girls were actually admitted. Even though in 1983 microwave ovens did not have widespread distribution in US households, Merage correctly predicted that Microwave oven usage would continue to grow exponentially. David and brother, Paul, sold Chef America toNestle in 2002. The program has helped Iranian immigrants become an essential part of every aspect of Israeli life, including Israeli culture, education, military, business, and politics. David Merage is a successful American businessman and venture philanthropist who co-founded the frozen microwave snack Hot Pockets. View the profiles of people named David Merage. 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. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Tell me about your professional path and how you incorporate your business experience in your philanthropic work. "The role of CIG is to support our non-profit activities," he says. It addresses new technologies in such fields as life sciences, security, military, IT, food/agriculture and Financial Transactions. As part of our Community Development division, we are leading four major programs. The cornerstones of this culture are Davids business imperatives: respect, accountability, innovation, collaboration, a drive for excellence, having fun, and making our world a better place. [5], 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 two daughters so they could be admitted into the University of Southern California.[6][7]. I am also leading an effort to engage business leaders in early childhood education advocacy. In 1968, David joined Paul in California. Decades ago, a vacation in the South of Israel inspired a big question in my mind: Why is Israel concentrated in the center while a huge land in the South remains empty? I wondered how is it that this small nation has not developed this vast area, while the cities in the center are crowded, and the housing prices are out of reach for most young Israelis. She resides in Newport Coast, California. ". 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. 2020. Today the MIG Group manages over $1 billion worth of assets, mostly commercial real estate but also some private equity venture capital investments. Yet another amazing example of a massive fortune made from a totally random business. After the sale of Chef America, David Merage founded Consolidated Investment Group (CIG), a Denver-based investment management company specializing in capital markets, and commercial real estate. Related: 10 Ways to Make Money During the Pandemic Ali and . Katy Perry, Luke Bryan and Lionel Richie were powerless to save a couple of their faves this time. 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. 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. Over the years, the program has evolved to become a unique empowerment framework for women, which includes over 10 Iranian womens clubs throughout Israel. 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. CIG supports five family foundations: the David and Laura Merage Foundation, the Andre and Katherine Merage Foundation, Early Learning Ventures, the Jonathan Merage Foundation and the Sabrina Merage Foundation. Over time sales started to take off. Today, David is an investor and venture philanthropist. The Merage family /mrd/ is a wealthy Iranian Jewish family residing in Orange County, California. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. 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. [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. 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. Arts and Culture: Our foundation invests in public and private arts organizations throughout the US. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. 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. In partnership with the Jewish Agency, Wings offers a continuum of services, from the time they first arrive in Israel and years after their release from the IDF. How Will It Affect Your Family? She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. After interviewing dozens of reservist and army officials, we understood that this was a widespread problem. Laura: I'm one-half of the David and Laura Merage Foundation. CIG seeks optimal returns through direct investment, creative partnership structures, fund investments, and other innovative techniques. Joe's 55,000 square-foot home topped Paul's by 10,000 square feet. In my research I learned that Joe C. Wen took the record for largest home in all of Orange County from a person named Paul 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. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. 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. Andre Merage died in 2001. With Lauras leadership, the organization founded RedLine, an urban art laboratory promoting the creative expression of resident artists. November 21, 2022. In 2012, CIG made its first investment in a Minneapolis-based company, Funky Chunky, which makes artisanal chocolate caramel popcorn and gourmet snacks. 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. 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. In 1979, my mother put me in touch with a family friend. In just one year, the company's sales increased by double digits. And all of that seems totally unnecessary. He spends a lot of his time on the road looking for investment prospects and assessing businesses. Katherine remains active in her philanthropic endeavors. Following these guidelines, our Israel team develops programs and nurtures partnerships that bring about systemic, sustainable and bold results. "My dad and I work together and talk about corporate strategy every day," she says. "I felt an immediate connection with the people and the culture. With the support and encouragement of my mother Katherine and my wife Laura, we agreed this would be another great project for the Merage Foundation. Attentive to shifts in American culture, they noted two coalescing trends: Sales of microwave ovens were increasing as more women entered the workplace. As a venture philanthropist, I always look for the highest social returns on my investment. Community Development: The foundation founded Equitas in December of 2013, to raise public awareness and to implement sensible programming and policy for managing mental and behavioral health challenges. Join Facebook to connect with David Merage and others you may know. Negev Agritourism: MFI is working with key regional partners to transform the Negev region into a flourishing agritourism destination, attracting a flow of international and local tourists in their quest for an authentic desert experience, a growing curiosity about where our food comes from, and a stronger connection to the land. [1] In 2004 the Merage Jewish Community Center[2] opened in Irvine, California; the center was named after the Merage Family and serves the needs of Orange County. After a business trip to Europe in the mid-70s, the brothers saw potential demand in the American market for frozen Belgian waffles, according to a 2016 Tedium article, working for months to . Spoiler alert, that person is named Joe C. Wen. The company created a considerable workforce employing 1,900 associates in three states, and generating over 6,000 national jobs through the supply chain. One of Evokes most recent creative media grantees, 1946: The Mistranslation That Shifted a Culture, premiered at the DOC NYC film festival in November. Cities and what people think and feel about them frame in a deep way how we deal with housing policy and economics. They would often arrive to Israel in the middle of the night with children and grandparents, exhausted and confused. CIGs permanent capital base allows the company to take a disciplined, long-term investment perspective. There's just one teeny, tiny blemish on the family's track record. She pleaded guilty to paying college admissions coach Rick Singer $300,000 to get her daughters into to the University of Southern California. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. Capitalizing on David's expertise in the food business, CIG began actively seeking investments in American-owned companies in the food and beverage industry that are promising or in distress, or those whose sales have plateaued but still have potential for substantial growth. He eventually rose to the position of director of new products. 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. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. His older brother, Paul, had graduated from the University of California at Berkeley. In February 2020, Michelle was sentenced to five months in prison. 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. Total assets. Connected to Life: This program supports and trains senior citizens to use smartphones as a means of strengthening their social and familial ties. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. In 2005 Paul donated $30 million to the University of California's School of Business, which was then renamed the Paul Merage School of Business. About Merage family Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. [4] He attended Alborz High School in Tehran. If you walk through that door you find that there are many new doors that begin to open up. That's enough to make them one of the richest families in America. Mr. Merage continues as a very successful businessman and currently leads one of the largest and most diversified real estate and investment companies in the United States. You and your wife Laura are known for your philanthropic involvement. 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. Ignore Your Parents, Quit School And Follow Your Passion Just Like Michael Dell. "David's recruiting process is incredibly rigorous," says Nelson. "We're not passive investors," Sabrina says. Panlong Tiandi opening attracts "Golden Week" crowd. She wanted to run away to Israel and asked me for help. This is how Pakal was born, two years ago. Merage is a member of the University Synagogue, a Reconstructionist synagogue in Irvine, California. David and their father began investing in real estate while Paul was toiling away at General Foods. When the Nazis invaded Paris in 1940, he fled to Iran and resumed his life there. 18 Inverness Place East, Englewood, CO 80112 They have gone on to invest the funds in real estate and the capital markets. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. Over the years we have supported hundreds of initiatives, benefiting hundreds of thousands of individuals throughout Israel. Laura is an artist and photographer with works in public and private collections nationally and internationally. CIG actively supports the work of the foundation by providing office space, resources, and human capital to ensure that the foundation can focus on tackling complex societal problems and creating lasting solutions within the community. 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 Merage is a successful entrepreneur and venture. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. The films director, Sharon Rocky Roggio, was even interviewed by the Daily Beast. Its society. 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. Echo's venture capital comes from CIG, which also offers its resources and operational expertise to the companies in Echo's investment portfolio. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. My parents have always been involved in supporting Israel and the Jewish community in Iran. She has studios in Denver, Hawaii, and Israel. A decade later, they made an astute observation that would change their lives. Special Needs Financial Planning: Smart Advice For Families Coping With Disabilities, Family Matters: The Best California Wines Come From Family-Owned Vineyards, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. $3,601,544. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. Reserve companies are also supported by a digital platform that allows them to manage and mobilize their communities for action. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. How did they do it? Its law. It considers itself a resource to the companies it invests in, drawing on its decades of experience in the food industry. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. [1], Merage was born in Iran in 1943 to a Jewish family,[2] the son of Katherine and Andre Merage. Chef America is known for being one of the most successful food companies in the world. 18 Inverness Place East, Englewood, CO 80112. Their instincts were right. It manages a large portfolio of commercial properties coast to coast. 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. 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. There's the American Dream, and then there's the spectacular success achieved by immigrant brothers David and Paul Merage. 1946 takes a journalistic, academic approach. The Institutes Innovation Bridge Program has brought almost 1000 of the leading high tech Israeli scientists and business leaders to Newport Beach for a special two week business boot camps. Negev Development Division: For the past 15 years, I have been actively involved in the Negev, supporting a variety of projects, from employment and entrepreneurship programs, dozens of festivals and cultural events and supporting local municipalities in the development of strategic plans for demographic growth, urban development, economic growth, health and transportation. Due to the company's success throughout the 1990s, the Merage brothers sold their business to Nestle in 2002 for roughly $2.6 billion. But more financial planners are aiming to help. 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. Harnessing inspiration from his parents, Andre and Katherine, David knew from an early age that he would be an entrepreneur, ambitiously driven to excel in the business world while embracing a sense of social responsibility. Our foundation works in two ways first through direct philanthropic investment and, secondly, through partnerships. In 1983, Hot Pockets were introduced to retail supermarkets and, within a short time, was a household staple. They called the sandwiches Hot Pockets and, in 1983, started marketing them to vending machines, catering businesses and schools. In 1975, David Merage co-founded Chef America, a national frozen food manufacturer known for inventing and marketing Hot Pockets, Lean Pockets, and Croissant Pockets. Stell 18 Inverness Place East, Englewood, CO 80112. Our goal is to strengthen key economic clusters where the Negev has a significant competitive advantage. Meanwhile, Paul, who had had ten years of management experience working with major packaged food companies, suggested that he and David start a business importing and marketing consumer products from Europe and Japan. Younger brother David joined Paul in California in 1968. The 67-year-old Merage came to the U.S. in 1968 in pursuit of a college education. "I come from a family of entrepreneurs and trendsetters. Photo by Kathryn Scott Osler/The Denver Post via Getty Images. Sabrina is the principal; her cousin Ben Levy is the vice president. 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. email info@merage.org 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. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. Like CIG, Echo invests in food and beverage companies. I think philanthropys role is to empower people so that they realize their full potential. In what areas are you involved? David is married to Laura Merage, who was also born in Tehran. The mission of our Foundation in Israel is to empower individuals and communities; we incubate and accelerate circles of change those who are strengthened, strengthen others, and lead the way to promoting the prosperity of Israel and the well-being of all its citizens. This article. By 1985 Chef America was finally getting Hot Pockets stocked on shelves in supermarkets around the United States. He enrolled at Sacramento State University where he graduated in 1971 with a degree in marketing. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. The business really took off in 1985 when Chef America started selling Hot Pockets in retail supermarkets nationwide. They expanded their product line and employed some 1,900 people before selling to Nestle in 2002 for $2.6 billion. In 1974, Paul and David co-founded their own food company. CIG has set an ambitious goal of closing one or two deals a year. They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. Today, I am principal of Consolidated Investment Group, a Denver-based investment firm, focusing on Wall Street and real estate investments. Founded in 1977, the company behind the microwavable meals,. 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. 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.
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