They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. Copyright 2023 Consolidated Investment Group All Rights Reserved. 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. Today, David, 66, is principal of Consolidated Investment Group in Denver, the firm he started in 2002. 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. The Merage Foundation Israel (MFI) has two main areas of focus: Community Development and Negev Development. Trumps lawyers request is based on claims that the judge in the case has been biased against the former president in his judgments thus far. [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]. 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. Yet another amazing example of a massive fortune made from a totally random business. [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. David and Paul Merage[3] co-founded Chef America Inc. where they created the popular microwavable snack Hot Pockets in the early 1980s. However, I did not visit Israel until I was in my early 40s. Katy Perry, Luke Bryan and Lionel Richie were powerless to save a couple of their faves this time. The CIG Group owns more than 25,000 apartment units in America, 10 million square feet of office space and 2,500 acres of residential land. Over the years we have supported hundreds of initiatives, benefiting hundreds of thousands of individuals throughout Israel. Evoke Media continues to support documentaries and podcasts that drive social change. Clarkston : A Documentary About the Most Diverse Square Mile - David How did they do it? Media & Insights - David & Laura Merage Foundation 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. They have gone on to invest the funds in real estate and the capital markets. "Retirement? 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. The gala will honor designer Karl Lagerfeld on May 1. need for a hot meal or snack that children could easily prepare themselves when returning from school. Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. We constantly look for opportunities that tap into existing networks and infrastructures that avoid duplication. In her interview, Rocky explains the importance of the film to her and for the LGBTQ+ community. [2] As microwave ownership increased and as more women entered the workforce Hot pockets gained greater recognition and eventually became a success. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. As the Nazis approached France, the Merage parents made the wise decision to get on a boat and move to their native Tehran. Tell us about your special connection to Israel and more specifically to the Israeli-Iranian community. Its history. 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. Today, David is an investor and venture philanthropist. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. How do I decide what to invest in? He wanted a snack-able treat a kid could microwave in two minutes and eat holding nothing but a paper towel. 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. She also has to serve two years of supervised release, pay a $250,000 fine and perform 200 hours of community service. Founded in 1977, the company behind the microwavable meals,. 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. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. That's very important to him. 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. One of Evokes most recent creative media grantees, 1946: The Mistranslation That Shifted a Culture, premiered at the DOC NYC film festival in November. 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. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. We understood the great need create an opportunity to build a renewed sense of community and solidarity among army reservists. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. She wanted to run away to Israel and asked me for help. David and Laura combine their decades of entrepreneurialism and creative problem-solving abilities to tackle some of the worlds biggest social challenges. HOT POCKET Founder and Successful Entrepreneur, David Merage - PRWeb 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. David And Laura Merage Foundation - Nonprofit Explorer - ProPublica 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. 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. Reese Witherspoon Sold Her Los Angeles House to a Hot Pockets - DIRT (Photo by Donald Bowers/Getty Images for Editor Showcase). 2) The snack they created needed to extremely easy for kids to make and eat on their own. Facebook gives people the power to. I guess UC Irvine wasn't prestigious enough? Paulreferred to by David as a marketing geniuswas convinced that there was a big market for them in the States. Our foundation, headquartered in Denver, Colorado, is centered on the belief that education is the gateway to optimal life outcomes. 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. Where Is Michelle Janavs After Her Operation Varsity Blues - Bustle In 1974, Paul and David co-founded their own food company. For the past 22 years, we have created a variety of programs that have improved the life trajectory of hundreds of Iranian-Israeli families, creating multi-generational change. The year he graduated, Paul and David's parents joined them in California. Similar to MIG, the CIG Group also invests in commercial real estate, capital markets and private equity. Chef America then marketed Hot Pockets nationally. David Merage is one of the many remarkable Iranian American Jews in who through hard work and creativity have achieved the American dream. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. A decade later, they made an astute observation that would change their lives. "When the prices of ingredients went up, we asked our research and development team to find ways to offset them," says David, "and we looked for ways to be even more efficient. [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. 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. Attentive to shifts in American culture, they noted two coalescing trends: Sales of microwave ovens were increasing as more women entered the workplace. Want To Make $15 Billion? At Chef America, David's strong suit was creating the company culture that contributed so much to the business's success. Today, Merage runs Consolidated Investment Group (CIG), a Denver-based company strategically investing in real estate, capital markets and private equity. Michelle Janavs served time in prison after being convicted for her involvement in the scheme. 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. Laura is an artist and photographer with works in public and private collections nationally and internationally. In 2012, CIG made its first investment in a Minneapolis-based company, Funky Chunky, which makes artisanal chocolate caramel popcorn and gourmet snacks. 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 . The primary mission of his foundation is to promote self-sufficiency through education and community development in the United States and Israel. Last year, Sabrina launched her own investment company, Echo Capital Group, an offshoot of CIG. Merage family - Wikipedia 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. 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). I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. "My father used to tell us stories about successful family businesses," David says. High Impact Philanthropy: Laura Merage and Sabrina Merage Naim - Medium 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. Sometimes, an unexpected incident in life presents itself. History - David & Laura Merage Foundation 1 company in the world mass-producing frozen Belgian waffles. [4], In 1983, he noticed that as more women entered the work force there was a newly emerging His sister, Sabrina Merage, has been vice president of corporate strategy at CIG and a core member of the business team since 2012. The sale price? In February 2020, Michelle was sentenced to five months in prison. 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. It has advised Funky Chunky on matters such as designing equipment, redistribution channels and human resources. This program has proven to be ever more relevant during this pandemic and I am very happy to see that our platform is expanding its services throughout Israel. 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. 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. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. The foundation concentrates its efforts in four primary areas: Early Childhood Education, Art and Community, Jewish Life (Domestic), and Jewish Life (International). On one European trip, the brothers discovered Belgian waffles. Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. Tell me about your professional path and how you incorporate your business experience in your philanthropic work. Having raised his sons with dreams of excelling in business, Andre sent them abroad to be educated. You and your wife Laura are known for your philanthropic involvement. 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. "Rather than supporting people's health and providing access to quality care and education, we . The end result of this brilliant chain of decisions? CIG has set an ambitious goal of closing one or two deals a year. But more financial planners are aiming to help. He and his wife Laura run the David and Laura Merage Foundation, which focuses on community development and early childhood education. Iran was not a promising country for entrepreneurs when Andre was starting out. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. Read below, Ivanka's. Included were four Stanley Cup final appearances and a pair of Cup wins. He was co-founded Chef America Inc., a privately-held. The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack 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. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. David and Laura are natives of Tehran, Iran, who immigrated to the United States in their early teens with hopes of a better future. 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 and Laura Merage: Philanthropists supporting Israel Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. 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. These young people have made significant sacrifices by leaving their homes and families to move to Israel and protect our Jewish homeland. At 15, David attended secondary school in England. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Total revenues. ", 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. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. Merage Israel: In 2000, together with Laura and my mother, Katherine, we began our philanthropic work in Israel. 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. What initiatives does your foundation support in 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. Over the years, the program has evolved to become a unique empowerment framework for women, which includes over 10 Iranian womens clubs throughout Israel. The films director, Sharon Rocky Roggio, was even interviewed by the Daily Beast. He spends a lot of his time on the road looking for investment prospects and assessing businesses. I kid you not. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". The David and Laura Merage Foundation has generously committed to providing continued support through 2022. All Rights Reserved. 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. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. 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. "CIG is driven by excellence. Between the two brothers, they support more than a dozen family-led philanthropic foundations. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. 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. 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. Every morning I wake up and say to myself, 'This is the start of another good day.' And all of that seems totally unnecessary. Andre Merage died in 2001. Copyright 2015 by Family Business Magazine. David Merage | I'm Iranian Laura: I'm one-half of the David and Laura Merage Foundation. . 18 Inverness Place East, Englewood, CO 80112 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. 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. Following these guidelines, our Israel team develops programs and nurtures partnerships that bring about systemic, sustainable and bold results. Now enthusiastic about philanthropy, she sits on several non-profit boards and attends conferences on philanthropy. After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. November 21, 2022. 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. 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. . 18 Inverness Place East, Englewood, CO 80112. Jonathan attended Purdue University and conducts severe weather research throughout the country. This demographic trend coincided with the development of microwave oven for home use. 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. "We're not passive investors," Sabrina says. "I come from a family of entrepreneurs and trendsetters. That same year the brothers decided to sell the business to Nestle. [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. [2][7] Merage also donated $3 million to the Merage Jewish Community Center of Orange County, California. She did not speak any Hebrew, she had no contacts, no money and was completely lost. A Teeny Tiny Blemish There's just one. In the mid-1990s, it relocated its headquarters to Englewood, Colo. David's family and the entire executive team made the move. 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. 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. My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. There's the American Dream, and then there's the spectacular success achieved by immigrant brothers David and Paul Merage. He named it Hot Pockets, and promoted it as the Hot Meal without a Big Deal. 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. 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. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. The patchwork of government programs for adults with disabilities, and their varying eligibility rules, create complications and traps. When the Nazis invaded Paris in 1940, he fled to Iran and resumed his life there. 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. Laura holds a Masters degree in Art from New York University and is an accomplished artist/photographer with works in public and private collections nationally and internationally. The company created a considerable workforce employing 1,900 associates in three states, and generating over 6,000 national jobs through the supply chain. He eventually rose to the position of director of new products. They're better than their record, but it might already be too late for them to contend, even in the mediocre AL Central. (303) 789-2664. Over time sales started to take off. 2023 Celebrity Net Worth / All Rights Reserved. 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. There was nothing like them.". In 1971, Andre and Katherine also moved to California. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. Between the four brothers, the family is estimated to conservatively be worth more than $5 billion. Younger brother David joined Paul in California in 1968. 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. At 15, my life finally intersected with art. He has worked to re-create that culture at CIG. In 1977, annual sales topped $12 million, but the brothers recognized that they would have to expand beyond the breakfast market for the business to keep growing. 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. "And we wanted to sell to an operating company that would retain our management team and other employees.". He reached into his pockets to give back - jewishjournal.com 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. Merage family - Forbes 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. 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. After two years of trial and error, they developed a frozen sandwich that tasted good and didn't get soggy when heated. [8][2] He has been an active member of the Business Schools Advisory Board which he chaired for a number of years. He brought his son and one of his brothers as co-founders. [2] In 1977,[5] he Founded Chef America, Inc. with his younger brother David. In 2002 the David and Laura Merage Foundation (DLMF) was officially established to create a more equitable society for all and to leave a legacy for future generations. David and I share a tenacious, hands-on approach to philanthropy, investing our time, capital, business acumen, and problem-solving . Language links are at the top of the page across from the title. Sales took off, generating new varieties of "pockets." And that segues nicely into the actual article I ended up wanting to write. 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.