Katy Perry, Luke Bryan and Lionel Richie were powerless to save a couple of their faves this time. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. David and Paul Merage[3] co-founded Chef America Inc. where they created the popular microwavable snack Hot Pockets in the early 1980s. In the 1920s, he moved to France, where he ran a successful business importing and exporting high-end antiques. 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. Following these guidelines, our Israel team develops programs and nurtures partnerships that bring about systemic, sustainable and bold results. 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. A Colorado Couple Brings a Venture Approach to Family Philanthropy Our foundation, headquartered in Denver, Colorado, is centered on the belief that education is the gateway to optimal life outcomes. In 2012, CIG made its first investment in a Minneapolis-based company, Funky Chunky, which makes artisanal chocolate caramel popcorn and gourmet snacks. Total expenses. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. 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. 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 . When the company ran out of initial funding the brothers also had to borrow money from their parents. In the United States, the foundation concentrates its efforts in promoting Early Childhood Education, Arts and Culture and Community Development. For reprint information, contact bwenger@familybusinessmagazine.com. They have gone on to invest the funds in real estate and the capital markets. Meet David & Laura - David & Laura Merage Foundation 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. ", 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. On one European trip, the brothers discovered Belgian waffles. Language links are at the top of the page across from the title. Copyright 2015 by Family Business Magazine. Today, I am principal of Consolidated Investment Group, a Denver-based investment firm, focusing on Wall Street and real estate investments. Chef America then marketed Hot Pockets nationally. $3,601,544. 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. What do you think is the role of philanthropy in the world today? 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. The company soon introduced over 30 flavors and variations, including Lean Pockets, Croissant Pockets and Breakfast Pockets. Photo by Kathryn Scott Osler/The Denver Post via Getty Images. Andre Merage died in 2001. Our movie is more than just theology. 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. Our Founder 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. David, who grew up in Tehran, remembers everyone in the familyincluding the womentaking a keen interest in business. 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. That's enough to make them one of the richest families in America. Just three years earlier his parents were living in France, where the father ran an antiques import/export business. Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. "My dad and I work together and talk about corporate strategy every day," she says. And, as any late night Hot Pocket consumer can confirm, the true mark of a successful late night Hot Pocket feast was waking up the next morning feeling like someone had scorched the top of your mouth with a blowtorch. Upon arrival, a wonderful Farsi speaking partner would meet them at the airport, help them fill their paperwork, arrange for transportation and give them supplies and a Hebrew dictionary. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. 2) The snack they created needed to extremely easy for kids to make and eat on their own. The business really took off in 1985 when Chef America started selling Hot Pockets in retail supermarkets nationwide. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". 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. Reese Witherspoon Sold Her Los Angeles House to a Hot Pockets - DIRT Merage family - Wikipedia With Lauras leadership, the organization founded RedLine, an urban art laboratory promoting the creative expression of resident artists. Redline Art Center has been noticed Redlines new exhibit Carey Fisher, curated by Cortney Lane Stell, brings together two popular landscape painters. I think philanthropys role is to empower people so that they realize their full potential. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. This article. Its society. Yet another amazing example of a massive fortune made from a totally random business. Additionally,Laura serves on the University of Tel Aviv Board of Governors and is an emeritus board member for the Anti-Defamation League. Evoke Media continues to support documentaries and podcasts that drive social change. High Impact Philanthropy: Laura Merage and Sabrina Merage Naim - Medium The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. Submit a correction suggestion and help us fix it! The CIG Group manages more than $2 billion worth of assets. 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. More than 3,000 of these new immigrants serve in the IDF each year. They spent months testing and perfecting a recipe for frozen waffles. by Ernie Smith, Orange County Business Journal: "Profiles of wealthiest in Orange County", Jewish Journal: "Photo Essay: L.A.s Iranian Jews repaying Alliances generosity" by Karmel Melamed, School receives $30 million gift and new name, UCI Paul Merage School of Business, University of California - Irvine, https://en.wikipedia.org/w/index.php?title=Paul_Merage&oldid=1141890543, This page was last edited on 27 February 2023, at 11:16. In just three years, Chef America became the No. [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. 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. Arik Sharon and his administration encouraged my organization to embrace this challenge. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. There was nothing like them.". 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. "The role of CIG is to support our non-profit activities," he says. Total assets. "Retirement? David Merage is one of the many remarkable Iranian American Jews in who through hard work and creativity have achieved the American dream. Founder of Consolidated - Early Learning Ventures | Facebook [3] He has four siblings: Louise, Camron, David, and Lin. 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. 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. Americans fell in love with Belgian waffles. She resides in Newport Coast, California. We understood the great need create an opportunity to build a renewed sense of community and solidarity among army reservists. Since they were young, my children have been actively involved in our philanthropic work, and now they are leading their own foundations, and are promoting their own endeavors with great success. David And Laura Merage Foundation - Nonprofit Explorer - ProPublica 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. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. "I felt an immediate connection with the people and the culture. "It just rolled off my shoulders," she says, "because my family was never fixated on money but on values. Merage is a member of the University Synagogue, a Reconstructionist synagogue in Irvine, California. Chef America is known for being one of the most successful food companies in the world. Most recently, we have completed a new model focused on promoting regional economic development. David and Laura's 33-year-old son, Jonathan, has forged his own path as a storm chaser interested in extreme weather and its consequences. He and his wife Laura run the David and Laura Merage Foundation, which focuses on community development and early childhood education. 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. MIG Private Equity is a fund of funds with a portfolio of investments ranging from consumer products to technology companies. That's very important to him. Today, David is an investor and venture philanthropist. Each of the 13 children born to the four brothers manages a separate foundation supported by the family. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. [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]. 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. ", Philanthropy is the fourth CIG operation and, David stresses, is equal to the firm's other operations. Today, Merage runs Consolidated Investment Group (CIG), a Denver-based company strategically investing in real estate, capital markets and private equity. Media & Insights - David & Laura Merage Foundation She pleaded guilty to paying college admissions coach Rick Singer $300,000 to get her daughters into to the University of Southern California. It doesn't matter what it is; it has to be superb. Poring over thousands of historical documents, centuries of ancient texts, and Bible translations in many languages, the experts in the film conclude that two Greek words were mistranslated to mean homosexual. 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. [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]. In 2020, Sabrina founded Evoke Media as a subsidiary of SMF in order to create connection, cultivate conversation, and drive social impact through the power of storytelling. 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.
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