david merage daughter

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. Janavs is the daughter of Paul Merage, who, with his brother, co-founded Chef America Inc., which created the Hot Pockets microwavable snack. 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. In her interview, Rocky explains the importance of the film to her and for the LGBTQ+ community. CIG has set an ambitious goal of closing one or two deals a year. I also believe it is my responsibility to contribute greatly of my time, my network and my business acumen. The Merage family /mrd/ is a wealthy Iranian Jewish family residing in Orange County, California. Once again, the brothers were back in the kitchen experimenting with recipes. [2] In 1977,[5] he Founded Chef America, Inc. with his younger brother David. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. 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. When the company ran out of initial funding the brothers also had to borrow money from their parents. [4] He attended Alborz High School in Tehran. What do you think is the role of philanthropy in the world today? Between the four brothers, the family is estimated to conservatively be worth more than $5 billion. 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. In 1974, David and Paul formed a company in Southern California, which they originally called General American Foods. 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? The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. At some point in the early 1970s, the brothers were vacationing in Europe and had their first ever Belgian waffle. She resides in Newport Coast, California. Andre Merage died in 2001. 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. The David and Laura Merage Foundation, based in Colorado, focuses on community development and early childh Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. I think philanthropys role is to empower people so that they realize their full potential. Financial Aid Is Changing. ", 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. (Photo by Donald Bowers/Getty Images for Editor Showcase). The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. When they were ready, the brothers went door-to-door marketing their frozen Belgian waffles to coffee shops, supermarkets and restaurants. "My father used to tell us stories about successful family businesses," David says. 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. $7,948,855. How can such a small nation forget about this huge part of the countrys territory? Foundation's History. Chef America wanted a more central location between its California and Kentucky manufacturing operations. MIG Capital LLC, managed by Richard Merage is a highly ranked US Hedge fund managing over US$1 billion in assets. 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. [8][2] He has been an active member of the Business Schools Advisory Board which he chaired for a number of years. They would often arrive to Israel in the middle of the night with children and grandparents, exhausted and confused. There are four rules that I absolutely live by without compromise. 18 Inverness Place East, Englewood, CO 80112 I am also leading an effort to engage business leaders in early childhood education advocacy. Why was this company an attractive investment to CIG? Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. It invests domestically and internationally and mostly for the long term. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. Founder of Consolidated Investment Group and the David and Laura Merage Foundation, David Merage, was invited to be on a panel with Advisor Ivanka Trump and Senator Cory Gardner. 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. Just three years earlier his parents were living in France, where the father ran an antiques import/export business. 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. They have gone on to invest the funds in real estate and the capital markets. Katherine remains active in her philanthropic endeavors. . David is a discerning investor who's always looking for what others haven't thought of. Total expenses. 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. Redline Art Center has been noticed Redlines new exhibit Carey Fisher, curated by Cortney Lane Stell, brings together two popular landscape painters. MFI's DeserTech Initiative Partners with United Nations. He named it Hot Pockets, and promoted it as the Hot Meal without a Big Deal. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. Stell 18 Inverness Place East, Englewood, CO 80112. 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. And that segues nicely into the actual article I ended up wanting to write. If you walk through that door you find that there are many new doors that begin to open up. 18 Inverness Place East, Englewood, CO 80112. Total assets. Total revenues. The sale price? I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. He serves as chairman of MIG parent companies. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. Laura is also the founder of Black Cube, which works with artists to produce pop up exhibitions in unexpected places while helping artists further their professional careers. 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. Although the brothers had no experience in developing food products or designing machinery, they were undeterred. Setting new challenges and mapping new territories is what I do.". At the time, Sabrina was just graduating from college and thinking more about her career. "I don't know of any other country where people can succeed through their best efforts as they can here," David says. The program has helped Iranian immigrants become an essential part of every aspect of Israeli life, including Israeli culture, education, military, business, and politics. Meanwhile, Laura saw that many of her peers were isolated by their artistic interests. "He surrounds himself with exceptionally capable people and then gives everyone opportunities to learn, contribute and succeed. After selling the company, Paul launched a private investment firm called the MIG Group. So far, Echo has invested in Boomerang Pies, a company in Austin, Texas, that sells frozen, handheld, all-natural, minced meat and kidney pies, adapted from Australian recipes. 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. We believe in the power of empowerment, leadership development and community building. 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. David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. Today, David is an investor and venture philanthropist. . However, I did not visit Israel until I was in my early 40s. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. Panlong Tiandi opening attracts "Golden Week" crowd. A few weeks ago I was doing some research on the largest home in one of the wealthiest zip codes in America, the Orange County enclave of Newport Coast. 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. CIG seeks optimal returns through direct investment, creative partnership structures, fund investments, and other innovative techniques. "Only four food companies were in a position to buy a business the size of Chef America," says David. Today the MIG Group manages over $1 billion worth of assets, mostly commercial real estate but also some private equity venture capital investments. "After a year and a half of testing, we developed the first generation of frozen waffles. Paul Merage was born to a Jewish family in Tehran, Iran in 1943. 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. I saw in the Negev, Israels land of opportunity; a blank piece of paper to write the next chapter of the new Zionism. [2] Chef America started by selling frozen Belgian waffles - then largely unfamiliar in the United States - to restaurants as they were difficult to cook. David is principal of Consolidated Investment Group (CIG), a Denver-based investment firm that focuses on Wall Street and real estate investments and holds one of the most diverse portfolios in the country in terms of product type and geography. At 15, my life finally intersected with art. Company leaders receive ongoing support in team building, empowerment training and practical assistance for events, activities and volunteering opportunities. By 1986 approximately 25% of US households owned a Microwave. He enrolled at Sacramento State University where he graduated in 1971 with a degree in marketing. David and Laura combine their decades of entrepreneurialism and creative problem-solving abilities to tackle some of the worlds biggest social challenges. 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. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. Jonathan attended Purdue University and conducts severe weather research throughout the country. While most people tend to think of the Maldives as the epicenter of romance (and it certainly is that), it has so much more to offer. Having strung thousands of racquets while his daughter was pursuing her passion on the tennis courts, he created Last Second Stringing, a purely philanthropic endeavor and donates all funds collected to a foundation that runs a school for children in Uganda. Their instincts were right. In the 1920s, he moved to France, where he ran a successful business importing and exporting high-end antiques. Our foundation, headquartered in Denver, Colorado, is centered on the belief that education is the gateway to optimal life outcomes. Copyright 2015 by Family Business Magazine. 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. "He instilled in us the belief that family members working together were stronger than any one of us could be working alone.". In order to create opportunities for economic growth and high-quality jobs, the foundation acts as an integrative body to convene and mobilize the key stakeholders and nurture an environment where these clusters can mature and flourish. Like CIG, Echo invests in food and beverage companies. 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. Echo's venture capital comes from CIG, which also offers its resources and operational expertise to the companies in Echo's investment portfolio. Its investment portfolio is currently valued in excess of $2 billion. I knew I was destined to become an entrepreneur and it would happen here.". They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. 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. David Merage is a successful American businessman and venture philanthropist who co-founded the frozen microwave snack Hot Pockets. "Rather than supporting people's health and providing access to quality care and education, we . 2020. 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. Reserve companies are also supported by a digital platform that allows them to manage and mobilize their communities for action. And all of that seems totally unnecessary. Younger brother David joined Paul in California in 1968. "My dad and I work together and talk about corporate strategy every day," she says. Laura is an artist and photographer with works in public and private collections nationally and internationally. 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. David, who grew up in Tehran, remembers everyone in the familyincluding the womentaking a keen interest in business. Copyright 2023 Consolidated Investment Group All Rights Reserved. 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. 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. It manages a large portfolio of commercial properties coast to coast. My team would continue meeting with them and helping in any way they could. These young people have made significant sacrifices by leaving their homes and families to move to Israel and protect our Jewish homeland. $3,601,544. Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. There's just one teeny, tiny blemish on the family's track record. Through his company, Consolidated Investment Group (CIG), David invests in real estate and the capital markets. ", Sabrina was a teenager when her father and uncle sold Chef America, but she says she was unfazed by the publicity or comments from kids at school. We understood the great need create an opportunity to build a renewed sense of community and solidarity among army reservists. David and brother, Paul, sold Chef America toNestle in 2002. Over time sales started to take off. 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. About Merage family Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. She did not speak any Hebrew, she had no contacts, no money and was completely lost. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. Read below, Ivanka's. [1], Merage was born in Iran in 1943 to a Jewish family,[2] the son of Katherine and Andre Merage. In 2012, CIG made its first investment in a Minneapolis-based company, Funky Chunky, which makes artisanal chocolate caramel popcorn and gourmet snacks. 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. 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. Jamie Dimon, the CEO of the countrys largest bank, asserted last month it was absurd to suggest titans like JPMorgan would benefit from the collapse of several regional banks. Sabrina attended the University of Denver, received a degree in Marketing, and now provides business consulting, reputation management, and next-generation education to high-performing and high-net-worth families. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . CIG is in the process of buying another food company, which David declines to identify because the deal has not yet closed. He was co-founded Chef America Inc., a privately-held. Submit a correction suggestion and help us fix it! After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. David has created a company that is founded on high ethical standards that puts its people first, fosters an environment of respect, integrity, and tolerance of others. Its law. DeserTech Jonathan Merage has recently boosted his continued donations to the University of Hawaii at Mnoas Science and School of Ocean and Earth Science and Technology David Merage, founder of the David and Laura Merage Foundation, joined prestigious business leaders from Colorado as a presenting sponsor of EPICs (Executives Partnering to Cortney Lane Stell, executive director and chief curator of Black Cube Nomadic Art Museum was recently interviewed by Westword, a Denver based news publication. They're better than their record, but it might already be too late for them to contend, even in the mediocre AL Central. Included were four Stanley Cup final appearances and a pair of Cup wins. "I bring together a team of the most creative and committed people I can find and set high expectations and goals," David says. Born in Iran, they came to the U.S. in the 1960s as students and settled in California. 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. From Star Trek, Dr. Kildare, The Twilight Zone, The F.B.I. [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. 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. In what areas are you involved? There's the American Dream, and then there's the spectacular success achieved by immigrant brothers David and Paul Merage. My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. Americans fell in love with Belgian waffles. Over the years we have supported hundreds of initiatives, benefiting hundreds of thousands of individuals throughout Israel. "It just rolled off my shoulders," she says, "because my family was never fixated on money but on values. Merage developed the concept of a quick two-minute microwaveable meal which was all enclosed in a crust for ease of handling, using nothing more than a paper towel. Merage Israel: In 2000, together with Laura and my mother, Katherine, we began our philanthropic work in Israel. David Merage created a new category of convenience food products when he founded Chef America and developed and distributed HOT POCKETS brand sandwiches. She also has to serve two years of supervised release, pay a $250,000 fine and perform 200 hours of community service. A Teeny Tiny Blemish There's just one. Paul Merage (born 1943) is an American billionaire businessman who co-founded Chef America Inc., the company that popularized the microwavable frozen snack Hot Pockets. His management team is comprised of experts in the education and non-profit sectors, supported by senior-level finance, legal, management, and marketing professionals. 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. David was the fourth of five children born to Andre and Katherine Merage. David and Paul Merage[3] co-founded Chef America Inc. where they created the popular microwavable snack Hot Pockets in the early 1980s. 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. Due to the company's success throughout the 1990s, the Merage brothers sold their business to Nestle in 2002 for roughly $2.6 billion. The primary mission of his foundation is to promote self-sufficiency through education and community development in the United States and Israel. [4][2] In 1977, the company had $12 million in sales and was the largest mass-producer of frozen Belgian waffles in the US. The glorious frozen creations known as Hot Pockets were created by two Jewish-Iranian brothers named Paul and David Merage, who immigrated from Tehran to the U.S. for college, according to Saveur.After earning an MBA, Paul worked in marketing at Maxwell Coffee House, but a trip to Europe inspired him to start a frozen waffle business alongside his brother, and thus, former frozen food giant . The company created a considerable workforce employing 1,900 associates in three states, and generating over 6,000 national jobs through the supply chain. Its history. 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. Last year, Sabrina launched her own investment company, Echo Capital Group, an offshoot of CIG. One of Merages major ongoing philanthropic programs is Merage Institute for U.S.-Israel Trade. [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. Spotting an opportunity, they set out to develop a nutritious frozen-food product that women and their families could pop into a microwave oven for a quick meal or snack. Attentive to shifts in American culture, they noted two coalescing trends: Sales of microwave ovens were increasing as more women entered the workplace. In 2005, Paul and Lilly Merage donated $30 million to the School of Business at University of California, Irvine, which was renamed Paul Merage School of Business in his honor. As such, Governor John Hickenlooper proclaimed May 11th as David Merage Day in Colorado. [3] Photo by Kathryn Scott Osler/The Denver Post via Getty Images. 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. "California felt like home," says David. 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. David is married to Laura Merage, who was also born in Tehran. He has worked to re-create that culture at CIG. At 15, David attended secondary school in England. 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. Working six and a half days a week, the Merages marketed their frozen waffles to coffee shops and restaurants. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. Related: 10 Ways to Make Money During the Pandemic Ali and . Iran was not a promising country for entrepreneurs when Andre was starting out. All Rights Reserved. Between the two brothers, they support more than a dozen family-led philanthropic foundations. But more financial planners are aiming to help. 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. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". Part of our work includes promoting the emergence of early-stage DeserTech startups, mobilizing the entrepreneurial capital in the region, and spurring innovation by bringing together technology, information, specialized talent, competing companies, academic institutions, and high-quality jobs.

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