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. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. 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. What initiatives does your foundation support in Israel? HOT POCKET Founder and Successful Entrepreneur, David Merage - PRWeb I never considered it for one minute," he says. Wings ensures that these courageous, young individuals do not fall through the cracks of Israeli society, it offers a supportive safety net and helps them achieve their personal goals and aspirations. A collection of recent news, press mentions, and insights on the David and Laura Merage Foundation and our impact areas. In the United States, the foundation concentrates its efforts in promoting Early Childhood Education, Arts and Culture and Community Development. 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. I think philanthropys role is to empower people so that they realize their full potential. 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. Today, David is an investor and venture philanthropist. One Of The Richest Families In America Owes Their Entire Fortune To In the early 1960s Paul and his younger brother David moved to the United States to attend the University of California at Berkeley. Its society. 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 selling the company, Paul launched a private investment firm called the MIG Group. Jonathan attended Purdue University and conducts severe weather research throughout the country. David and Laura are natives of Tehran, Iran, who immigrated to the United States in their early teens with hopes of a better future. David and their father began investing in real estate while Paul was toiling away at General Foods. Our Founder I also believe it is my responsibility to contribute greatly of my time, my network and my business acumen. As part of our Community Development division, we are leading four major programs. In her interview, Rocky explains the importance of the film to her and for the LGBTQ+ community. email [email protected] (303) 789-2664. Their instincts were right. Its law. After having all of his wealth in one basket in Chef America, David sought to build a diversified portfolio for CIG. In 1979, my mother put me in touch with a family friend. 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. Who is Michelle Janavs? Bio, Wiki, Age, Husband, and Sentence There are four rules that I absolutely live by without compromise. Last year, Sabrina launched her own investment company, Echo Capital Group, an offshoot of CIG. As the Nazis approached France, the Merage parents made the wise decision to get on a boat and move to their native Tehran. [1], Merage was born in Iran in 1943 to a Jewish family,[2] the son of Katherine and Andre Merage. 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. As a mark of their business acumen, David and Paul never raised the original price of Hot Pockets, even though they improved the quality and increased the varieties over the years. Just three years earlier his parents were living in France, where the father ran an antiques import/export business. That, plus a culture of respect and honesty in everything we do, makes CIG an exciting environment in which to work.". That same year the brothers decided to sell the business to Nestle. In 1983, Hot Pockets were introduced to retail supermarkets and, within a short time, was a household staple. CIG is in the process of buying another food company, which David declines to identify because the deal has not yet closed. ". My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". Paul Merage was born to a Jewish family in Tehran, Iran in 1943. The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack Echo's venture capital comes from CIG, which also offers its resources and operational expertise to the companies in Echo's investment portfolio. The sale price? After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. Sometimes, an unexpected incident in life presents itself. Our foundation works in two ways first through direct philanthropic investment and, secondly, through partnerships. When the Nazis invaded Paris in 1940, he fled to Iran and resumed his life there. They would often arrive to Israel in the middle of the night with children and grandparents, exhausted and confused. 18 Inverness Place East, Englewood, CO 80112. David Merage Profiles | Facebook What do you think is the role of philanthropy in the world today? 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 David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. My family represents three generations of philanthropists that began with my parents, and we are now working on a fourth generation: my grandchildren! 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. David Merage is a successful American businessman and venture philanthropist who co-founded the frozen microwave snack Hot Pockets. Every morning I wake up and say to myself, 'This is the start of another good day.' 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. 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. By incorporating real business experience, an entrepreneurial spirit, and a passion for social impact, we provide the best services and quality no matter what we do, and we go where not many people are willing to go. In 2015, his net worth was estimated at $1.8 billion. 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. Colorado EPIC | Our Mission, Members & Movement The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. In just three years, Chef America became the No. [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. Later, it introduced two other popular lines, Lean Pockets and Croissant Pockets. "I felt an immediate connection with the people and the culture. 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. David, who grew up in Tehran, remembers everyone in the familyincluding the womentaking a keen interest in business. Art, Community and Hazard Mitigation: A Successful Combination - David [2] As microwave ownership increased and as more women entered the workforce Hot pockets gained greater recognition and eventually became a success. One of Evokes most recent creative media grantees, 1946: The Mistranslation That Shifted a Culture, premiered at the DOC NYC film festival in November. In the 1920s, he moved to France, where he ran a successful business importing and exporting high-end antiques. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . On one European trip, the brothers discovered Belgian waffles. Chef America already had breakfast covered with waffles, and the frozen dinner category already had a dozen dominant players like Swanson's. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. It was Paul who correctly predicted microwaves would soon proliferate in American kitchens, opening up a world of new product category opportunities. David was the fourth of five children born to Andre and Katherine Merage. David and brother, Paul, sold Chef America toNestle in 2002. 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? 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. 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. 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. [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. David and Laura Merage Foundation | Englewood, CO | Cause IQ CIGs permanent capital base allows the company to take a disciplined, long-term investment perspective. 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. At 15, my life finally intersected with art. "And we wanted to sell to an operating company that would retain our management team and other employees.". 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 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. 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. 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. 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. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. 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. It has been shown that youth teaching technology to seniors fosters generational connections while promoting happier, more confident lifestyles. Although the brothers had no experience in developing food products or designing machinery, they were undeterred. David is married to Laura Merage, who was also born in Tehran. In 2002, Chef America generated $750 million in revenue. Copyright 2023 Consolidated Investment Group All Rights Reserved. After two years of trial and error, they developed a frozen sandwich that tasted good and didn't get soggy when heated. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. The Hollywood superstar and entrepreneur opens up about the ways her haircare line is expanding and offers advice to other working professionals on how to succeed in business today. David Merage is one of the many remarkable Iranian American Jews in who through hard work and creativity have achieved the American dream. 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. We are entrepreneurs at heart. After interviewing dozens of reservist and army officials, we understood that this was a widespread problem. In particular, Laura has launched several nonprofit organizations that have made a profound impact on our nations Art and Culture landscape. 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. David and I share a tenacious, hands-on approach to philanthropy, investing our time, capital, business acumen, and problem-solving . That's enough to make them one of the richest families in America. . In what areas are you involved? The patchwork of government programs for adults with disabilities, and their varying eligibility rules, create complications and traps. [1]. Meet David & Laura - David & Laura Merage Foundation 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 films director, Sharon Rocky Roggio, was even interviewed by the Daily Beast. 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. She did not speak any Hebrew, she had no contacts, no money and was completely lost. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. In 1974, David and Paul formed a company in Southern California, which they originally called General American Foods. 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. To kindle the younger generation's interest in philanthropy, their grandmother, Katherine Merage, gave each of her 13 grandchildren the gift of a foundation and the freedom to make their own decisions about how to give away the money. At Chef America, David's strong suit was creating the company culture that contributed so much to the business's success. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. "For months we spent every night in our mother's kitchen cooking up recipes," says David. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. It addresses new technologies in such fields as life sciences, security, military, IT, food/agriculture and Financial Transactions. The foundation concentrates its efforts in four primary areas: Early Childhood Education, Art and Community, Jewish Life (Domestic), and Jewish Life (International). In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. Between the two brothers, they support more than a dozen family-led philanthropic foundations.

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