It invests domestically and internationally and mostly for the long term. "My dad and I work together and talk about corporate strategy every day," she says. 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. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. David and I share a tenacious, hands-on approach to philanthropy, investing our time, capital, business acumen, and problem-solving . In 2015, his net worth was estimated at $1.8 billion. 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. Where Is Michelle Janavs After Her Operation Varsity Blues - Bustle Read below, Ivanka's. The primary mission of his foundation is to promote self-sufficiency through education and community development in the United States and Israel. 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. . CIG seeks optimal returns through direct investment, creative partnership structures, fund investments, and other innovative techniques. There are four rules that I absolutely live by without compromise. Between the two brothers, they support more than a dozen family-led philanthropic foundations. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Initially, Paul Merage had to obtain three Mortgages on his home to fund the business. History - David & Laura Merage Foundation 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. When the company ran out of initial funding the brothers also had to borrow money from their parents. In my quest for answers, Shmulick Riffman, then-mayor of Ramat HaNegev, and a great Zionist dedicated to the Negevs development, became my mentor. David and brother, Paul, sold Chef America toNestle in 2002. 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. Connected to Life: This program supports and trains senior citizens to use smartphones as a means of strengthening their social and familial ties. 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. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. 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. 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. 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. 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. Meanwhile, Laura saw that many of her peers were isolated by their artistic interests. She also has to serve two years of supervised release, pay a $250,000 fine and perform 200 hours of community service. Tell us about your special connection to Israel and more specifically to the Israeli-Iranian community. She pleaded guilty to paying college admissions coach Rick Singer $300,000 to get her daughters into to the University of Southern California. David is a discerning investor who's always looking for what others haven't thought of. We believe in the power of empowerment, leadership development and community building. CIG does not just write a check. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. In the early 1960s Paul and his younger brother David moved to the United States to attend the University of California at Berkeley. Outside of their investment firms, the brothers also dove head-first into philanthropy. [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. 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 . Similar to MIG, the CIG Group also invests in commercial real estate, capital markets and private equity. MIG Capital LLC, managed by Richard Merage is a highly ranked US Hedge fund managing over US$1 billion in assets. 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. "California felt like home," says David. Born in Iran, they came to the U.S. in the 1960s as students and settled in California. The 67-year-old Merage came to the U.S. in 1968 in pursuit of a college education. 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. Redline Art Center has been noticed Redlines new exhibit Carey Fisher, curated by Cortney Lane Stell, brings together two popular landscape painters. Iranian Community in Israel: For more than 20 years we have promoted the advancement of the Iranian community in Israel mainly through women leadership programs and the exposure of the Persian culture to Israeli society. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. The foundation concentrates its efforts in four primary areas: Early Childhood Education, Art and Community, Jewish Life (Domestic), and Jewish Life (International). 5 Iranian-American Siblings Who Harnesses the Power of - Entrepreneur The daughter of Paul Merage, who co-founded Chef America Inc. with his brother and created the Hot. 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. [1]. 2020. email info@merage.org 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. David and their father began investing in real estate while Paul was toiling away at General Foods. In 1974, Paul and David co-founded their own food company. David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. Before the premiere at the DOC NYC Film Festival, the film garnered much media attention. Over the years we have supported hundreds of initiatives, benefiting hundreds of thousands of individuals throughout Israel. Today, Merage runs Consolidated Investment Group (CIG), a Denver-based company strategically investing in real estate, capital markets and private equity. In February 2020, Michelle was sentenced to five months in prison. He also invests in people through his foundation, the David and Laura Merage Foundation. 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. 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. Most recently, we have completed a new model focused on promoting regional economic development. 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. 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. "The role of CIG is to support our non-profit activities," he says. I guess UC Irvine wasn't prestigious enough? November 21, 2022. 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. 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. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. Paul set up an in investment firm in Southern California, and David started Consolidated Investment Group (CIG), an investment management company in Denver that invests for a select group of clients. David is married to Laura Merage, who was also born in Tehran. He was co-founded Chef America Inc., a privately-held. Their instincts were right. In 2005, Paul and Lilly Merage donated $30 million to the School of Business at University of California, Irvine, which was renamed Paul Merage School of Business in his honor. Language links are at the top of the page across from the title. The company created a considerable workforce employing 1,900 associates in three states, and generating over 6,000 national jobs through the supply chain. Art, Community and Hazard Mitigation: A Successful Combination - David 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. Reese Witherspoon Sold Her Los Angeles House to a Hot Pockets - DIRT 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? CIGs permanent capital base allows the company to take a disciplined, long-term investment perspective. After interviewing dozens of reservist and army officials, we understood that this was a widespread problem. In 1975, David Merage co-founded Chef America, a national frozen food manufacturer known for inventing and marketing Hot Pockets, Lean Pockets, and Croissant Pockets. 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. How Will It Affect Your Family? All Rights Reserved. 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. The firm has four areas of operation: private equities, public equities, commercial real estate and philanthropy. The company soon introduced over 30 flavors and variations, including Lean Pockets, Croissant Pockets and Breakfast Pockets. 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. 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. "Rather than supporting people's health and providing access to quality care and education, we . As part of our Community Development division, we are leading four major programs. Paul spent nearly a decade working on specialty food products like Tang, Hostess desserts, and freeze-dried coffee. The Denver Post has recently praised RedLine Art Center and Black Cube Head Quarters for their daring new exhibits. 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. [2] In 1977,[5] he Founded Chef America, Inc. with his younger brother David. The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack The Merage Foundation Israel (MFI) has two main areas of focus: Community Development and Negev Development. 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. "I felt an immediate connection with the people and the culture. There's the American Dream, and then there's the spectacular success achieved by immigrant brothers David and Paul Merage. By 1985 Chef America was finally getting Hot Pockets stocked on shelves in supermarkets around the United States. At some point in the early 1970s, the brothers were vacationing in Europe and had their first ever Belgian waffle. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. I kid you not. There's just one teeny, tiny blemish on the family's track record. He enrolled at Sacramento State University where he graduated in 1971 with a degree in marketing. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. 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. [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. The David and Laura Merage Foundation is centered on the belief that education is the gateway to optimal life outcomes. As such, Governor John Hickenlooper proclaimed May 11th as David Merage Day in Colorado. 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. He eventually rose to the position of director of new products. Now enthusiastic about philanthropy, she sits on several non-profit boards and attends conferences on philanthropy. The year he graduated, Paul and David's parents joined them in California. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. "We're not passive investors," Sabrina says. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. Copyright 2023 Consolidated Investment Group All Rights Reserved. Iran was not a promising country for entrepreneurs when Andre was starting out. About Merage family Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. [2][7] Merage also donated $3 million to the Merage Jewish Community Center of Orange County, California. In 2002, Chef America generated $750 million in revenue. It has advised Funky Chunky on matters such as designing equipment, redistribution channels and human resources. 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. She has studios in Denver, Hawaii, and Israel. It manages a large portfolio of commercial properties coast to coast. Stell 18 Inverness Place East, Englewood, CO 80112. A collection of recent news, press mentions, and insights on the David and Laura Merage Foundation and our impact areas. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". [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]. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. "I don't know of any other country where people can succeed through their best efforts as they can here," David says. Over the years, the program has evolved to become a unique empowerment framework for women, which includes over 10 Iranian womens clubs throughout Israel. Clarkston : A Documentary About the Most Diverse Square Mile - David I knew I was destined to become an entrepreneur and it would happen here.". In 2015, his net worth was estimated at $1.8 billion. 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. This model allows Laura and I to be truly diverse in the types of programs and endeavors in which we become involved. 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. Chef America Inc. Continuing The Value Creation Streak Meanwhile, Paul, who had had ten years of management experience working with major packaged food companies, suggested that he and David start a business importing and marketing consumer products from Europe and Japan. 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. It doesn't matter what it is; it has to be superb. Family passions and reputation stand behind the wines of California's wine families. Paul and David decided Chef America should forget about breakfast and dinner as categories. Michelle Janavs Husband Janavs' is very private about her personal life therefore it is not known if she is in any relationship. "My father used to tell us stories about successful family businesses," David says. Katherine remains active in her philanthropic endeavors. Founder of Consolidated - Early Learning Ventures | Facebook Cities and what people think and feel about them frame in a deep way how we deal with housing policy and economics. High Impact Philanthropy: Laura Merage and Sabrina Merage Naim - Medium
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