Stell 18 Inverness Place East, Englewood, CO 80112. David was the fourth of five children born to Andre and Katherine Merage. Sabrina is the principal; her cousin Ben Levy is the vice president. Similar to MIG, the CIG Group also invests in commercial real estate, capital markets and private equity. Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. 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. In particular, Laura has launched several nonprofit organizations that have made a profound impact on our nations Art and Culture landscape. I'm pretty sure the daughters could have gotten into UC Irvine without even submitting grades considering the business school is literally named after their grandpa! Through our Merage Foundation initiatives we create opportunities that increase well-being and positive life outcomes. 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. 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. Merage developed the concept of a quick two-minute microwaveable meal which was all enclosed in a crust for ease of handling, using nothing more than a paper towel. The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack Over time sales started to take off. Merage - Family Business Magazine Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. David is married to Laura Merage, who was also born in Tehran. Michelle Janavs served time in prison after being convicted for her involvement in the scheme. 18 Inverness Place East, Englewood, CO 80112. Early Learning Ventures is building a network of over 600 high-performing child-care providers, making quality child care more accessible to American families. In 1977, annual sales topped $12 million, but the brothers recognized that they would have to expand beyond the breakfast market for the business to keep growing. 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. Meet David & Laura - David & Laura Merage Foundation 1 company in the world mass-producing frozen Belgian waffles. [2][7] Merage also donated $3 million to the Merage Jewish Community Center of Orange County, California. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. When Nestl bought Chef America, the company had sales of $750 million a year, employed 1,800 people and generated 6,000 jobs through its supply chain. 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. 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"It just rolled off my shoulders," she says, "because my family was never fixated on money but on values. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. How did they do it? History - David & Laura Merage Foundation He also invests in people through his foundation, the David and Laura Merage Foundation. A Colorado Couple Brings a Venture Approach to Family Philanthropy Their instincts were right. This is Paul Merage's 45,000 square-foot mansion: How did Paul Merage become a billionaire? Included were four Stanley Cup final appearances and a pair of Cup wins. And that segues nicely into the actual article I ended up wanting to write. [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. This is how Pakal was born, two years ago. 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. "David's recruiting process is incredibly rigorous," says Nelson. It invests domestically and internationally and mostly for the long term. Sabrina Merage Naim Daughter of Hot Pockets co founder David Merage; niece of Paul Merage; Echo Capital Group wife Join Facebook to connect with David Merage and others you may know. In 1979, my mother put me in touch with a family friend. Copyright 2023 Consolidated Investment Group All Rights Reserved. Arik Sharon and his administration encouraged my organization to embrace this challenge. 2023 Forbes Media LLC. Laura is an artist and photographer with works in public and private collections nationally and internationally. 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. Today, David, 66, is principal of Consolidated Investment Group in Denver, the firm he started in 2002. 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. "For months we spent every night in our mother's kitchen cooking up recipes," says David. [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 place. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. Chef America wanted a more central location between its California and Kentucky manufacturing operations. Arts and Culture: Our foundation invests in public and private arts organizations throughout the US. "I've been fortunate to do what I love for the past 40 years and derive such joy from my work. 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. David's wife, Laura, also born in Iran, is an artist who has a strong presence in the Denver art community. The family believes in hands-on philanthropy; all of the foundations have family boards and are overseen by executive director Sue Renner. Believe it or not, in the early 1980s most American households did not have a microwave. The program has helped Iranian immigrants become an essential part of every aspect of Israeli life, including Israeli culture, education, military, business, and politics. 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 . After interviewing dozens of reservist and army officials, we understood that this was a widespread problem. 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. Mental Health Colorado to Lead The Equitas Project with Generous 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. 2) The snack they created needed to extremely easy for kids to make and eat on their own. I guess UC Irvine wasn't prestigious enough? The David and Laura Merage Foundation, based in Colorado, focuses on community development and early childhood education. David and Laura have two adult children, Jonathan and Sabrina. 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. Capitalizing on David's expertise in the food business, CIG began actively seeking investments in American-owned companies in the food and beverage industry that are promising or in distress, or those whose sales have plateaued but still have potential for substantial growth. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. 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. Outside of their investment firms, the brothers also dove head-first into philanthropy. In the 1920s, he moved to France, where he ran a successful business importing and exporting high-end antiques. 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? In the mid-1990s, it relocated its headquarters to Englewood, Colo. David's family and the entire executive team made the move. Ivanka Trump visits daycare center near Denver, touting administration "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.". One Of The Richest Families In America Owes Their Entire Fortune To 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. 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. Redline is renowned in the Denver area for being Cortney Lane Stell, executive director and chief curator of Black Cube Nomadic Art Museum was recently interviewed by Westword, a Denver based news publication. Laura Gets Honest for a Future Without Art - David & Laura Merage ", Sabrina was a teenager when her father and uncle sold Chef America, but she says she was unfazed by the publicity or comments from kids at school. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. It manages a large portfolio of commercial properties coast to coast. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. [1] Biography [ edit] Merage was born in Iran in 1943 to a Jewish family, [2] the son of Katherine and Andre Merage. Merage Israel: In 2000, together with Laura and my mother, Katherine, we began our philanthropic work in Israel. Financial Aid Is Changing. 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. 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. There was nothing like them.". 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. 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. Michelle Janavs Husband Janavs' is very private about her personal life therefore it is not known if she is in any relationship. More than 3,000 of these new immigrants serve in the IDF each year. The CIG Group manages more than $2 billion worth of assets. 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. Although the brothers had no experience in developing food products or designing machinery, they were undeterred. [8][2] He has been an active member of the Business Schools Advisory Board which he chaired for a number of years. This allow us to remain lean and to scale rapidly in order to reach our full potential and benefit as many people as possible. Today, David is an investor and venture philanthropist. 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. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. Total expenses. He spends a lot of his time on the road looking for investment prospects and assessing businesses. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. need for a hot meal or snack that children could easily prepare themselves when returning from school. At its peak, Chef America was manufacturing 30 different pocket products, and each production line was turning out 800 to 900 Hot Pockets a minute. 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. Founded in 1977, the company behind the microwavable meals,. Laura: I'm one-half of the David and Laura Merage Foundation. In 1974, Paul and David co-founded their own food company. 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. In receiving this prestigious award, David joined the ranks of distinguished medalists, including six United States presidents, Nobel Prize winners, and the leaders of industries, educations, the arts, and sports. "The role of CIG is to support our non-profit activities," he says. If you walk through that door you find that there are many new doors that begin to open up. In 2015, his net worth was estimated at $1.8 billion. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. The company soon introduced over 30 flavors and variations, including Lean Pockets, Croissant Pockets and Breakfast Pockets. "I bring together a team of the most creative and committed people I can find and set high expectations and goals," David says. The end result of this brilliant chain of decisions? Who Invented Hot Pockets? These Are the Geniuses Behind - Distractify 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. "Rather than supporting people's health and providing access to quality care and education, we . 1946 takes a journalistic, academic approach. Sabrina Merage Grantee at DOC NYC - David & Laura Merage Foundation My team would continue meeting with them and helping in any way they could. The program matches senior citizens with hundreds of high school and university students from around the country who coach them on using key tools and apps such as Whatsapp and Moovit, as well as apps that allow them to make doctors appointments, do online shopping or communicate with their banks. 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. After selling the company, Paul launched a private investment firm called the MIG Group. Copyright 2015 by Family Business Magazine. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. Over the years, the program has evolved to become a unique empowerment framework for women, which includes over 10 Iranian womens clubs throughout Israel. [2] Chef America started by selling frozen Belgian waffles - then largely unfamiliar in the United States - to restaurants as they were difficult to cook. After the sale of Chef America, the brothers pursued separate projects. It doesn't matter what it is; it has to be superb. The patchwork of government programs for adults with disabilities, and their varying eligibility rules, create complications and traps. 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..