They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. [4][2] In 1977, the company had $12 million in sales and was the largest mass-producer of frozen Belgian waffles in the US. [1]. 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. [1], Merage was born in Iran in 1943 to a Jewish family,[2] the son of Katherine and Andre Merage. Related: 10 Ways to Make Money During the Pandemic Ali and . The boot camps are focused practical, best practices, on how to best introduce and promote new Israeli technologies in the U.S. to the mutual benefit of both nations. Due to the company's success throughout the 1990s, the Merage brothers sold their business to Nestle in 2002 for roughly $2.6 billion. A few weeks ago I was doing some research on the largest home in one of the wealthiest zip codes in America, the Orange County enclave of Newport Coast. Why was this company an attractive investment to CIG? 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. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. 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. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. All Rights Reserved. Chef America is known for being one of the most successful food companies in the world. It invests domestically and internationally and mostly for the long term. 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. MIG Private Equity is a fund of funds with a portfolio of investments ranging from consumer products to technology companies. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. 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. Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. Financial Aid Is Changing. 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. Our goal is to strengthen key economic clusters where the Negev has a significant competitive advantage. He was co-founded Chef America Inc., a privately-held. "The role of CIG is to support our non-profit activities," he says. The 67-year-old Merage came to the U.S. in 1968 in pursuit of a college education. 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. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. [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]. Yet another amazing example of a massive fortune made from a totally random business. The program has helped Iranian immigrants become an essential part of every aspect of Israeli life, including Israeli culture, education, military, business, and politics. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. We are entrepreneurs at heart. 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. 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. Included were four Stanley Cup final appearances and a pair of Cup wins. Katy Perry, Luke Bryan and Lionel Richie were powerless to save a couple of their faves this time. He serves as chairman of MIG parent companies. 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. "For months we spent every night in our mother's kitchen cooking up recipes," says David. 2) The snack they created needed to extremely easy for kids to make and eat on their own. David and Laura have two adult children, Jonathan and Sabrina. 2020. A Teeny Tiny Blemish There's just one. Following these guidelines, our Israel team develops programs and nurtures partnerships that bring about systemic, sustainable and bold results. I knew I was destined to become an entrepreneur and it would happen here.". When they were ready, the brothers went door-to-door marketing their frozen Belgian waffles to coffee shops, supermarkets and restaurants. 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. His sister, Sabrina Merage, has been vice president of corporate strategy at CIG and a core member of the business team since 2012. One of Evokes most recent creative media grantees, 1946: The Mistranslation That Shifted a Culture, premiered at the DOC NYC film festival in November. [2] Chef America started by selling frozen Belgian waffles - then largely unfamiliar in the United States - to restaurants as they were difficult to cook. Clarkston : A Documentary About the Most Diverse Square Mile - David Shawn Naim - Add Relationship - LittleSis MFI's DeserTech Initiative Partners with United Nations. 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. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. Mr. [4] He attended Alborz High School in Tehran. In 1968, David joined Paul in California. By 1977 their little company was selling $12 million worth of waffles per year. Last year, Sabrina launched her own investment company, Echo Capital Group, an offshoot of CIG. Today, David is an investor and venture philanthropist. 18 Inverness Place East, Englewood, CO 80112. 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 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. Foundation's History. 18 Inverness Place East, Englewood, CO 80112. Special Needs Financial Planning: Smart Advice For Families Coping With Disabilities, Family Matters: The Best California Wines Come From Family-Owned Vineyards, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. I also believe it is my responsibility to contribute greatly of my time, my network and my business acumen. He has been board member and a leading donor for the Pacific Symphony and has served on the board of the Orange County Performing Arts Center. In the mid-1990s, it relocated its headquarters to Englewood, Colo. David's family and the entire executive team made the move. 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. Andre Merage died in 2001. need for a hot meal or snack that children could easily prepare themselves when returning from school. 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. "After a year and a half of testing, we developed the first generation of frozen waffles. Like CIG, Echo invests in food and beverage companies. They would often arrive to Israel in the middle of the night with children and grandparents, exhausted and confused. 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. 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. HOT POCKET Founder and Successful Entrepreneur, David Merage - PRWeb The business really took off in 1985 when Chef America started selling Hot Pockets in retail supermarkets nationwide. 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. According to the David and Laura Merage Foundation, the family takes a hands on approach to their philanthropy, bringing their business acumen, entrepreneurial spirit, and creativity to each and every project.. 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. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. In partnership with the Jewish Agency, Wings offers a continuum of services, from the time they first arrive in Israel and years after their release from the IDF. Born in Iran, they came to the U.S. in the 1960s as students and settled in California. 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. In my quest for answers, Shmulick Riffman, then-mayor of Ramat HaNegev, and a great Zionist dedicated to the Negevs development, became my mentor. ", 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. I saw in the Negev, Israels land of opportunity; a blank piece of paper to write the next chapter of the new Zionism. David Merage is one of the many remarkable Iranian American Jews in who through hard work and creativity have achieved the American dream.

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