He named it Hot Pockets, and promoted it as the Hot Meal without a Big Deal. 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. You and your wife Laura are known for your philanthropic involvement. History - David & Laura Merage Foundation Merage family - Wikipedia Company leaders receive ongoing support in team building, empowerment training and practical assistance for events, activities and volunteering opportunities. As the Nazis approached France, the Merage parents made the wise decision to get on a boat and move to their native Tehran. "My father used to tell us stories about successful family businesses," David says. 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. The gala will honor designer Karl Lagerfeld on May 1. David Merage | I'm Iranian DeserTech Jonathan Merage has recently boosted his continued donations to the University of Hawaii at Mnoas Science and School of Ocean and Earth Science and Technology David Merage, founder of the David and Laura Merage Foundation, joined prestigious business leaders from Colorado as a presenting sponsor of EPICs (Executives Partnering to Cortney Lane Stell, executive director and chief curator of Black Cube Nomadic Art Museum was recently interviewed by Westword, a Denver based news publication. Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. "We run our philanthropy with the same discipline and high expectations as we do our business.". At the time, Sabrina was just graduating from college and thinking more about her career. After the sale of Chef America, the brothers pursued separate projects. [2] As microwave ownership increased and as more women entered the workforce Hot pockets gained greater recognition and eventually became a success. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. 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. Mental Health Colorado to Lead The Equitas Project with Generous Laura Gets Honest for a Future Without Art - David & Laura Merage "David's recruiting process is incredibly rigorous," says Nelson. Like CIG, Echo invests in food and beverage companies. They decided to quietly market the business, but they knew it wouldn't be easy. Records now reveal the buyer is Sabrina Merage Naim, an heiress to the fortune of tasty microwave snack Hot Pockets, which were invented and popularized by Naim's father David Merage and uncle Paul Merage in the 1980s. Stell 18 Inverness Place East, Englewood, CO 80112. 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. In 1983, Hot Pockets were introduced to retail supermarkets and, within a short time, was a household staple. They have gone on to invest the funds in real estate and the capital markets. Chef America already had breakfast covered with waffles, and the frozen dinner category already had a dozen dominant players like Swanson's. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. Want To Make $15 Billion? 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. 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. David, who grew up in Tehran, remembers everyone in the familyincluding the womentaking a keen interest in business. 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. 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. Later, it introduced two other popular lines, Lean Pockets and Croissant Pockets. How can such a small nation forget about this huge part of the countrys territory? It doesn't matter what it is; it has to be superb. November 21, 2022. 2023 Celebrity Net Worth / All Rights Reserved. "Initially the money felt like a burden," she says, "but once I came up with a mission, I realized what an amazing gift my grandmother had given me." 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. I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. 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. This article may not be posted online or reproduced in any form, including photocopy, without permission from the publisher. $3,601,544. 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. Paul Merage - Wikipedia The snack had to come fully-enclosed so no utensils were needed. He enrolled at Sacramento State University where he graduated in 1971 with a degree in marketing. My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. In 1979, my mother put me in touch with a family friend. 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. 2023 Forbes Media LLC. The Denver Post has recently praised RedLine Art Center and Black Cube Head Quarters for their daring new exhibits. Why was this company an attractive investment to CIG? The Sabrina Merage Foundation is proud to announce its newest Program Related Investment with Erin Bernhardt and her film, currently titled CLARKSTON: Mother of Exiles. Believe it or not, in the early 1980s most American households did not have a microwave. Who is Michelle Janavs? Bio, Wiki, Age, Husband, and Sentence Merage - Family Business Magazine Joe's 55,000 square-foot home topped Paul's by 10,000 square feet. Mr. Our movie is more than just theology. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. It invests domestically and internationally and mostly for the long term. 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. Pakal: One of the young leaders of our Iranian Community Program, who is an active reservist commander, raised the issue of the lack of social cohesion and disconnect among army reservists. 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. [2][7] Merage also donated $3 million to the Merage Jewish Community Center of Orange County, California. The David and Laura Merage Foundation has donated tens of millions of dollars to charities in Colorado that focus on education and childhood development. After two years of trial and error, they developed a frozen sandwich that tasted good and didn't get soggy when heated. It has advised Funky Chunky on matters such as designing equipment, redistribution channels and human resources. Spoiler alert, that person is named Joe C. Wen. CIGs permanent capital base allows the company to take a disciplined, long-term investment perspective. This model allows Laura and I to be truly diverse in the types of programs and endeavors in which we become involved. Paul Merage is chairman of MIG Capital which he co-founded with his son Richard and Greg Merage, a member of the extended family, while David Merage runs Consolidated Investment Group. Financial Aid Is Changing. "California felt like home," says David. Mr. Merage continues as a very successful businessman and currently leads one of the largest and most diversified real estate and investment companies in the United States. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. [4] Hot Pockets were manufactured in Englewood, Colorado, Chef America's former headquarters, until moving its business to the rest of Nestl's frozen business in Solon, Ohio. (303) 789-2664. 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. "My dad and I work together and talk about corporate strategy every day," she says. ", 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. They spent months testing and perfecting a recipe for frozen waffles. 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. Each of the 13 children born to the four brothers manages a separate foundation supported by the family. David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. What do you think is the role of philanthropy in the world today? 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! David Merage, founder of the David and Laura Merage Foundation, joined prestigious business leaders . The daughter of Paul Merage, who co-founded Chef America Inc. with his brother and created the Hot. Now enthusiastic about philanthropy, she sits on several non-profit boards and attends conferences on philanthropy. David and I share a tenacious, hands-on approach to philanthropy, investing our time, capital, business acumen, and problem-solving . Photo Essay: L.A.'s Iranian Jews repaying Alliance's generosity Ivanka Trump visits daycare center near Denver, touting administration I guess UC Irvine wasn't prestigious enough? We are entrepreneurs at heart. Working six and a half days a week, the Merages marketed their frozen waffles to coffee shops and restaurants. 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. David and brother, Paul, sold Chef America toNestle in 2002. She also has to serve two years of supervised release, pay a $250,000 fine and perform 200 hours of community service. Submit a correction suggestion and help us fix it! Our goal is to strengthen key economic clusters where the Negev has a significant competitive advantage. 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. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. 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. As a venture philanthropist, I always look for the highest social returns on my investment. I believe that philanthropists must also know that things change, evolve, advance, and that they certainly dont have all the answers about the needs and solutions of the communities they serve. 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.

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