Our Founder 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). 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. Additionally,Laura serves on the University of Tel Aviv Board of Governors and is an emeritus board member for the Anti-Defamation League. He eventually rose to the position of director of new products. The gala will honor designer Karl Lagerfeld on May 1. 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. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. My vision for Israel is a prosperous and cohesive society that is committed to the well-being of all its citizens. David and Laura Merage Foundation | Englewood, CO | Cause IQ My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. . The Merage Foundation Israel (MFI) has two main areas of focus: Community Development and Negev Development. 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. 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. David Merage | I'm Iranian Our goal is to strengthen key economic clusters where the Negev has a significant competitive advantage. [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. 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. HOT POCKET Founder and Successful Entrepreneur, David Merage - PRWeb need for a hot meal or snack that children could easily prepare themselves when returning from school. And that segues nicely into the actual article I ended up wanting to write. CIG seeks optimal returns through direct investment, creative partnership structures, fund investments, and other innovative techniques. When the company ran out of initial funding the brothers also had to borrow money from their parents. Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. 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. 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. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. MIG Capital LLC, managed by Richard Merage is a highly ranked US Hedge fund managing over US$1 billion in assets. My parents have always been involved in supporting Israel and the Jewish community in Iran. 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. She wanted to run away to Israel and asked me for help. How do I decide what to invest in? Connected to Life: This program supports and trains senior citizens to use smartphones as a means of strengthening their social and familial ties. 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. 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. As part of our Community Development division, we are leading four major programs. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. 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. They decided to quietly market the business, but they knew it wouldn't be easy. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. Our foundation, headquartered in Denver, Colorado, is centered on the belief that education is the gateway to optimal life outcomes. Like CIG, Echo invests in food and beverage companies. Our foundation works in two ways first through direct philanthropic investment and, secondly, through partnerships. At the time of its sale to Nestl in 2002, the company had reached $750 million in annual sales, employed 1,800 people, and was growing at a rate of 15% per year, making it one of the fastest-growing food companies in the world. As a venture philanthropist, I always look for the highest social returns on my investment. He serves as chairman of MIG parent companies. What do you think is the role of philanthropy in the world today? "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.". 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. 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. It manages a large portfolio of commercial properties coast to coast. At 15, David attended secondary school in England. 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. 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. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. 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. Today, Merage runs Consolidated Investment Group (CIG), a Denver-based company strategically investing in real estate, capital markets and private equity. In the United States, the foundation concentrates its efforts in promoting Early Childhood Education, Arts and Culture and Community Development. 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. Tell us about your special connection to Israel and more specifically to the Israeli-Iranian community. They have gone on to invest the funds in real estate and the capital markets. Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. 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. Once again, the brothers were back in the kitchen experimenting with recipes. 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. MIG Private Equity is a fund of funds with a portfolio of investments ranging from consumer products to technology companies. The difference is that Echo targets new companies started by millennial entrepreneurs. [1]. What initiatives does your foundation support in Israel? Its investment portfolio is currently valued in excess of $2 billion. 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. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. By 1985 Chef America was finally getting Hot Pockets stocked on shelves in supermarkets around the United States. ", 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. 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. It has been shown that youth teaching technology to seniors fosters generational connections while promoting happier, more confident lifestyles. With Lauras leadership, the organization founded RedLine, an urban art laboratory promoting the creative expression of resident artists. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. The firm has four areas of operation: private equities, public equities, commercial real estate and philanthropy. Mental Health Colorado to Lead The Equitas Project with Generous 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. Total expenses. [8][2] He has been an active member of the Business Schools Advisory Board which he chaired for a number of years. 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. 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. David and Laura have two adult children, Jonathan and Sabrina. CIG does not just write a check. 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. 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. It addresses new technologies in such fields as life sciences, security, military, IT, food/agriculture and Financial Transactions. Outside of their investment firms, the brothers also dove head-first into philanthropy. In 1974, Paul and David co-founded their own food company. Although the brothers had no experience in developing food products or designing machinery, they were undeterred. 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. ", Philanthropy is the fourth CIG operation and, David stresses, is equal to the firm's other operations. In 1983, Hot Pockets were introduced to retail supermarkets and, within a short time, was a household staple. High Impact Philanthropy: Laura Merage and Sabrina Merage Naim - Medium "Rather than supporting people's health and providing access to quality care and education, we . 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. In 2013, David Merage received the Ellis Island Medal of Honor, an award given to U.S. immigrants and native-born citizens who have made substantial contributions to American society. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. Most recently, we have completed a new model focused on promoting regional economic development. [2] In 1977,[5] he Founded Chef America, Inc. with his younger brother David. I think philanthropys role is to empower people so that they realize their full potential. "I bring together a team of the most creative and committed people I can find and set high expectations and goals," David says. Every morning I wake up and say to myself, 'This is the start of another good day.' Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. Clarkston : A Documentary About the Most Diverse Square Mile - David This demographic trend coincided with the development of microwave oven for home use. 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 David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. This model allows Laura and I to be truly diverse in the types of programs and endeavors in which we become involved. Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. Language links are at the top of the page across from the title. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. She pleaded guilty to paying college admissions coach Rick Singer $300,000 to get her daughters into to the University of Southern California. 18 Inverness Place East, Englewood, CO 80112. I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. One of Merages major ongoing philanthropic programs is Merage Institute for U.S.-Israel Trade. Photo Essay: L.A.'s Iranian Jews repaying Alliance's generosity In 1971, Andre and Katherine also moved to California. "After a year and a half of testing, we developed the first generation of frozen waffles. Paul's daughter Michelle was involved in the infamous college admissions scandal, also known as Operation Varsity Blues. Sabrina is the principal; her cousin Ben Levy is the vice president. 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 . Having raised his sons with dreams of excelling in business, Andre sent them abroad to be educated. After selling the company, Paul launched a private investment firm called the MIG Group. 1946 takes a journalistic, academic approach. The scheme was uncovered before the girls were actually admitted. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. 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 and Laura's philanthropic passion started years prior to the formal funding of the organization. The David and Laura Merage Foundation, based in Colorado, focuses on community development and early childhood education. It considers itself a resource to the companies it invests in, drawing on its decades of experience in the food industry. Through our Merage Foundation initiatives we create opportunities that increase well-being and positive life outcomes. I am also leading an effort to engage business leaders in early childhood education advocacy. In 2015, his net worth was estimated at $1.8 billion. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. 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.
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