She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. The David and Laura Merage Foundation is centered on the belief that education is the gateway to optimal life outcomes. 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. 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. Like CIG, Echo invests in food and beverage companies. You and your wife Laura are known for your philanthropic involvement. 2020. David Merage is a successful entrepreneur and venture. It is my greatest joy to see our philanthropic commitment to Israel extend through three, and now four generations, of my family. However, I did not visit Israel until I was in my early 40s. Early Learning Ventures is building a network of over 600 high-performing child-care providers, making quality child care more accessible to American families. Jamie Dimon, the CEO of the countrys largest bank, asserted last month it was absurd to suggest titans like JPMorgan would benefit from the collapse of several regional banks. Chef America is known for being one of the most successful food companies in the world. Ivanka Trump visits daycare center near Denver, touting administration 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. She was a young Jewish woman in Tehran, who was trying to escape from a very abusive husband with her two young daughters. All Rights Reserved. When the Nazis invaded Paris in 1940, he fled to Iran and resumed his life there. Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. Arts and Culture: Our foundation invests in public and private arts organizations throughout the US. 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. If you walk through that door you find that there are many new doors that begin to open up. Paul Merage (born 1943) is an American billionaire businessman who co-founded Chef America Inc., the company that popularized the microwavable frozen snack Hot Pockets . In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. They expanded their product line and employed some 1,900 people before selling to Nestle in 2002 for $2.6 billion. [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 Merage Foundation Israel they established. Part of our work includes promoting the emergence of early-stage DeserTech startups, mobilizing the entrepreneurial capital in the region, and spurring innovation by bringing together technology, information, specialized talent, competing companies, academic institutions, and high-quality jobs. At the time, Sabrina was just graduating from college and thinking more about her career. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . [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]. "My dad and I work together and talk about corporate strategy every day," she says. The CIG Group manages more than $2 billion worth of assets. 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. 2023 Celebrity Net Worth / All Rights Reserved. Early Childhood Education: The foundation is leading Early Learning Ventures, an initiative to enrich education for children ages birth to five years old. [4][2] In 1977, the company had $12 million in sales and was the largest mass-producer of frozen Belgian waffles in the US. There are four rules that I absolutely live by without compromise. "We run our philanthropy with the same discipline and high expectations as we do our business.". From an early age, I knew I was destined to be an entrepreneur. David and Laura's philanthropic passion started years prior to the formal funding of the organization. Language links are at the top of the page across from the title. They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. Panlong Tiandi opening attracts "Golden Week" crowd. 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. Who is Michelle Janavs? Bio, Wiki, Age, Husband, and Sentence 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. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. 18 Inverness Place East, Englewood, CO 80112. "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. 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. MFI's DeserTech Initiative Partners with United Nations. Its investment portfolio is currently valued in excess of $2 billion. Echo's venture capital comes from CIG, which also offers its resources and operational expertise to the companies in Echo's investment portfolio. 2) The snack they created needed to extremely easy for kids to make and eat on their own. Colorado EPIC | Our Mission, Members & Movement Laura received her bachelors degree in Fine Arts from the University of Southern California and her masters degree in Art from New York University. This article. Founder of Consolidated - Early Learning Ventures | Facebook Iran was not a promising country for entrepreneurs when Andre was starting out. "For months we spent every night in our mother's kitchen cooking up recipes," says David. 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. 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. His management team is comprised of experts in the education and non-profit sectors, supported by senior-level finance, legal, management, and marketing professionals. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. (Photo by Donald Bowers/Getty Images for Editor Showcase). 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. 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 company created a considerable workforce employing 1,900 associates in three states, and generating over 6,000 national jobs through the supply chain. I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. [1] Biography [ edit] Merage was born in Iran in 1943 to a Jewish family, [2] the son of Katherine and Andre Merage. 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. The gala will honor designer Karl Lagerfeld on May 1. Deanne Stone is a business writer based in Berkeley, Calif. He enrolled at Sacramento State University where he graduated in 1971 with a degree in marketing. 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. David And Laura Merage Foundation - Nonprofit Explorer - ProPublica More than 3,000 of these new immigrants serve in the IDF each year. They're better than their record, but it might already be too late for them to contend, even in the mediocre AL Central. . 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. CIG holds one of the most diverse portfolios in the country in terms of product type and geography, investing in public equity, hedge funds, fixed income and real estate, both domestically and internationally. David Merage created a new category of convenience food products when he founded Chef America and developed and distributed HOT POCKETS brand sandwiches. 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.. Laura: I'm one-half of the David and Laura Merage Foundation. 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. I saw in the Negev, Israels land of opportunity; a blank piece of paper to write the next chapter of the new Zionism. "CIG is driven by excellence. The brothers later sold the Chef America Inc. company to Nestl for $2.6 billion. About Merage family Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. A lot of students will be better of with the new financial aid criteria. Chef America then marketed Hot Pockets nationally. The cornerstones of this culture are Davids business imperatives: respect, accountability, innovation, collaboration, a drive for excellence, having fun, and making our world a better place. A decade later, they made an astute observation that would change their lives. Community Development: The foundation founded Equitas in December of 2013, to raise public awareness and to implement sensible programming and policy for managing mental and behavioral health challenges. November 21, 2022. Total assets. 18 Inverness Place East, Englewood, CO 80112 We believe in the power of empowerment, leadership development and community building. In 1971, Andre and Katherine also moved to California. We also supported through capital projects such the establishment of a Rehabilitation Center in Sderot, and the Dimona Medical Center, which covers over 20,000 patients a year and offers the community10 dialysis beds and emergency support after hours. Mental Health Colorado to Lead The Equitas Project with Generous The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack 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. Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. A Colorado Couple Brings a Venture Approach to Family Philanthropy Clarkston : A Documentary About the Most Diverse Square Mile - David 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 is an artist and photographer with works in public and private collections nationally and internationally. 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. The year he graduated, Paul and David's parents joined them in California. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. Evoke Media continues to support documentaries and podcasts that drive social change. It was Paul who correctly predicted microwaves would soon proliferate in American kitchens, opening up a world of new product category opportunities. The glorious frozen creations known as Hot Pockets were created by two Jewish-Iranian brothers named Paul and David Merage, who immigrated from Tehran to the U.S. for college, according to Saveur.After earning an MBA, Paul worked in marketing at Maxwell Coffee House, but a trip to Europe inspired him to start a frozen waffle business alongside his brother, and thus, former frozen food giant . 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. It has advised Funky Chunky on matters such as designing equipment, redistribution channels and human resources. David is married to Laura Merage, who was also born in Tehran. In the mid-1990s, it relocated its headquarters to Englewood, Colo. David's family and the entire executive team made the move. 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. Along with his brother, Paul, and late father, Andre, he founded Chef America, a San Fernando Valley-based. Paul earned an undergraduate degree in economics, followed by an M.B.A. from the school and then landed a job at General Foods. 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. David is a discerning investor who's always looking for what others haven't thought of. He spends a lot of his time on the road looking for investment prospects and assessing businesses. It invests domestically and internationally and mostly for the long term. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents.

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