[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. Each of the 13 children born to the four brothers manages a separate foundation supported by the family. 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. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. Sales took off, generating new varieties of "pockets." 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. 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A collection of recent news, press mentions, and insights on the David and Laura Merage Foundation and our impact areas. Their instincts were right. [4] He attended Alborz High School in Tehran. They're better than their record, but it might already be too late for them to contend, even in the mediocre AL Central. David, who grew up in Tehran, remembers everyone in the familyincluding the womentaking a keen interest in business. 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. 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. They expanded their product line and employed some 1,900 people before selling to Nestle in 2002 for $2.6 billion. Our movie is more than just theology. . "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. Setting new challenges and mapping new territories is what I do.". "Only four food companies were in a position to buy a business the size of Chef America," says David. Between the four brothers, the family is estimated to conservatively be worth more than $5 billion. This article may not be posted online or reproduced in any form, including photocopy, without permission from the publisher. They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. When David and his brother sold Chef America in the early 2000s, David and Laura decided to deepen their giving by establishing a multimillion dollar foundation, using funds from the sale for philanthropic investment. Paul Merage was born to a Jewish family in Tehran, Iran in 1943. Joe's 55,000 square-foot home topped Paul's by 10,000 square feet. The scheme was uncovered before the girls were actually admitted. Later, it introduced two other popular lines, Lean Pockets and Croissant Pockets. After having all of his wealth in one basket in Chef America, David sought to build a diversified portfolio for CIG. [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. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. 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. Its oppression, says Rocky. In the early 1960s Paul and his younger brother David moved to the United States to attend the University of California at Berkeley. Mr. I also believe it is my responsibility to contribute greatly of my time, my network and my business acumen. Panlong Tiandi opening attracts "Golden Week" crowd. 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. I saw in the Negev, Israels land of opportunity; a blank piece of paper to write the next chapter of the new Zionism. "We think both of these products will appeal to millennials on the go, and we'll use all of our resources to make their manufacturing and operations more efficient. Over time sales started to take off. 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. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. 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. The snack had to come fully-enclosed so no utensils were needed. 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. 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. Submit a correction suggestion and help us fix it! 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. Over the years we have supported hundreds of initiatives, benefiting hundreds of thousands of individuals throughout Israel. The Merage family /mrd/ is a wealthy Iranian Jewish family residing in Orange County, 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. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. My vision for Israel is a prosperous and cohesive society that is committed to the well-being of all its citizens. Like CIG, Echo invests in food and beverage companies. I never considered it for one minute," he says. $7,948,855. 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. Join Facebook to connect with David Merage and others you may know. For reprint information, contact bwenger@familybusinessmagazine.com. 1946 takes a journalistic, academic approach. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. The difference is that Echo targets new companies started by millennial entrepreneurs. She resides in Newport Coast, California. 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. 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. "And we wanted to sell to an operating company that would retain our management team and other employees.". At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. Joe made his money thanks to a company called Sakura Paper Inc., which makes high-end custom party invitations, place cards, menus, thank you cards, and save-the-dates. My parents have always been involved in supporting Israel and the Jewish community in Iran. His management team is comprised of experts in the education and non-profit sectors, supported by senior-level finance, legal, management, and marketing professionals. We believe in the power of empowerment, leadership development and community building. [1] Biography [ edit] Merage was born in Iran in 1943 to a Jewish family, [2] the son of Katherine and Andre Merage. 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. $3,601,544. At its peak, Chef America was manufacturing 30 different pocket products, and each production line was turning out 800 to 900 Hot Pockets a minute. [2] For over a decade Merage has been a major and active supporter of El Sol Academy, a dual immersion charter school in Santa Ana, California founded in 2001 with 110 students, later enrolling nearly 1,000 students in preschool through eighth grade. "We're not passive investors," Sabrina says. In 2015, his net worth was estimated at $1.8 billion. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. 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. They have gone on to invest the funds in real estate and the capital markets. In just one year, the company's sales increased by double digits. 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. 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. The business really took off in 1985 when Chef America started selling Hot Pockets in retail supermarkets nationwide. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. David Merage created a new category of convenience food products when he founded Chef America and developed and distributed HOT POCKETS brand sandwiches. 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. CIG does not just write a check. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. Chef America wanted a more central location between its California and Kentucky manufacturing operations. There was nothing like them.". It doesn't matter what it is; it has to be superb. 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. 2020. At 15, David attended secondary school in England. More than 3,000 of these new immigrants serve in the IDF each year. Stell 18 Inverness Place East, Englewood, CO 80112. Facebook gives people the power to. 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. ", 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. 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. Evoke Media continues to support documentaries and podcasts that drive social change. These young people have made significant sacrifices by leaving their homes and families to move to Israel and protect our Jewish homeland. Janavs is the daughter of Paul Merage, who, with his brother, co-founded Chef America Inc., which created the Hot Pockets microwavable snack. 1 company in the world mass-producing frozen Belgian waffles. 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. In receiving this prestigious award, David joined the ranks of distinguished medalists, including six United States presidents, Nobel Prize winners, and the leaders of industries, educations, the arts, and sports. Total revenues. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. Copyright 2015 by Family Business Magazine. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . 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. My team would continue meeting with them and helping in any way they could. Chef America is known for being one of the most successful food companies in the world. He was co-founded Chef America Inc., a privately-held. In her interview, Rocky explains the importance of the film to her and for the LGBTQ+ community. [2] Chef America started by selling frozen Belgian waffles - then largely unfamiliar in the United States - to restaurants as they were difficult to cook. Andre Merage died in 2001. They spent months testing and perfecting a recipe for frozen waffles. 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. The program has helped Iranian immigrants become an essential part of every aspect of Israeli life, including Israeli culture, education, military, business, and politics. Andre, David, and his brother, Paul, founded Chef America, Inc. in 1977 and subsequently developed Hot Pockets, a frozen-food product that quickly became a staple in supermarkets across the country. "My dad and I work together and talk about corporate strategy every day," she says. [2], Last edited on 27 February 2023, at 11:16, Los Angeles Times: "Merage Makes It His Business to Help Others - UCI's biggest donor began giving away his money after moving to Newport Beach in 2003" by Jeff Gottlieb, New York Times: "Paid Notice: Deaths Merage, Andre", Family Business Magazine: "A continuing streak of value creation - David Merage and his brother sold Chef America Inc., makers of Hot Pockets, to Nestl in 2002. Last year, Sabrina launched her own investment company, Echo Capital Group, an offshoot of CIG. David's nephew Ben Levy started working with CIG in 2011 as a private equities manager. CIG is in the process of buying another food company, which David declines to identify because the deal has not yet closed. Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. 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. How did they do it? Initially, Paul Merage had to obtain three Mortgages on his home to fund the business. [2] In 1977,[5] he Founded Chef America, Inc. with his younger brother David. (303) 789-2664. 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. She has studios in Denver, Hawaii, and Israel. That, plus a culture of respect and honesty in everything we do, makes CIG an exciting environment in which to work.". "What I've learned from working with David," he says, " is that product quality is king. 2023 Forbes Media LLC. Arts and Culture: Our foundation invests in public and private arts organizations throughout the US. Once again, the brothers were back in the kitchen experimenting with recipes. [3] He has four siblings: Louise, Camron, David, and Lin. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. Our plan includes developing the ecosystem of agricultural tourism in the Negev, by improving the quality of existing agritourism products, supporting the establishment of new ventures and creating jobs. He personally led the effort to formulate this product and after two years of testing and experimentation he developed and patented a unique process which resulted in a product with tasty fillings and a crispy crust. "We couldn't compete against the lunch and dinner market," says David, "so we started thinking about satisfying snacks that kids could make in a microwave oven without cutting or burning themselves and that adults could eat on the run.". [3] 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. MIG Capital LLC, managed by Richard Merage is a highly ranked US Hedge fund managing over US$1 billion in assets. Starting with the spring of 2015 and stretching through last year, the Tampa Bay Lightning made it to at least the conference final six of eight years. (Photo by Donald Bowers/Getty Images for Editor Showcase). The Denver Post has recently praised RedLine Art Center and Black Cube Head Quarters for their daring new exhibits. "Rather than supporting people's health and providing access to quality care and education, we . "CIG is driven by excellence. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. After the sale of Chef America, the brothers pursued separate projects. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. 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. Ignore Your Parents, Quit School And Follow Your Passion Just Like Michael Dell. Related: 10 Ways to Make Money During the Pandemic Ali and . Attentive to shifts in American culture, they noted two coalescing trends: Sales of microwave ovens were increasing as more women entered the workplace. But more financial planners are aiming to help. David and Laura combine their decades of entrepreneurialism and creative problem-solving abilities to tackle some of the worlds biggest social challenges. Following these guidelines, our Israel team develops programs and nurtures partnerships that bring about systemic, sustainable and bold results. Pakal: One of the young leaders of our Iranian Community Program, who is an active reservist commander, raised the issue of the lack of social cohesion and disconnect among army reservists. Just three years earlier his parents were living in France, where the father ran an antiques import/export business.

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