Upon arrival, a wonderful Farsi speaking partner would meet them at the airport, help them fill their paperwork, arrange for transportation and give them supplies and a Hebrew dictionary. Paul followed up with two brilliant brainstorms: 1) Paul realized that as more women entered the workforce, they wouldn't be home to fix their kids an after school snack. 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. Ignore Your Parents, Quit School And Follow Your Passion Just Like Michael Dell. 2) The snack they created needed to extremely easy for kids to make and eat on their own. In 1974, Paul and David co-founded their own food company. 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. Mike Tyson talks a possible WWE match with Logan Paul, the WWE-UFC merger and the launch of Tyson Pro. 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. She has studios in Denver, Hawaii, and Israel. And all of that seems totally unnecessary. This is Paul Merage's 45,000 square-foot mansion: How did Paul Merage become a billionaire? My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. 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. This article. 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. By bringing their experience, resources, and dedication to each respective initiative, they have brought ambitious societal shifts closer to fruition. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. . "I bring together a team of the most creative and committed people I can find and set high expectations and goals," David says. Katherine remains active in her philanthropic endeavors. "We're not passive investors," Sabrina says. CIG has set an ambitious goal of closing one or two deals a year. It doesn't matter what it is; it has to be superb. 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. CIG does not just write a check. The primary mission of his foundation is to promote self-sufficiency through education and community development in the United States and Israel. 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. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. 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. Copyright 2023 Consolidated Investment Group All Rights Reserved. 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. The David and Laura Merage Foundation is centered on the belief that education is the gateway to optimal life outcomes. In my quest for answers, Shmulick Riffman, then-mayor of Ramat HaNegev, and a great Zionist dedicated to the Negevs development, became my mentor. 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. They decided to quietly market the business, but they knew it wouldn't be easy. Its law. Our foundation works in two ways first through direct philanthropic investment and, secondly, through partnerships. [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. By 1985 Chef America was finally getting Hot Pockets stocked on shelves in supermarkets around the United States. 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. I kid you not. He serves as chairman of MIG parent companies. She resides in Newport Coast, California. They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. 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. "My father used to tell us stories about successful family businesses," David says. Today, David, 66, is principal of Consolidated Investment Group in Denver, the firm he started in 2002. David Merage is a successful entrepreneur and venture. Decades ago, a vacation in the South of Israel inspired a big question in my mind: Why is Israel concentrated in the center while a huge land in the South remains empty? I wondered how is it that this small nation has not developed this vast area, while the cities in the center are crowded, and the housing prices are out of reach for most young Israelis. need for a hot meal or snack that children could easily prepare themselves when returning from school. 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. When they were ready, the brothers went door-to-door marketing their frozen Belgian waffles to coffee shops, supermarkets and restaurants. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. 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. In 1977, David and Paul introduced Hot Pockets, frozen handheld sandwiches with a variety of fillings. Panlong Tiandi opening attracts "Golden Week" crowd. 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. Founded in 1977, the company behind the microwavable meals, Chef America, was sold to Nestle in 2002 for $2.6 billion. Chef America is known for being one of the most successful food companies in the world. Believe it or not, in the early 1980s most American households did not have a microwave. A collection of recent news, press mentions, and insights on the David and Laura Merage Foundation and our impact areas. With Lauras leadership, the organization founded RedLine, an urban art laboratory promoting the creative expression of resident artists. 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. The mission of our Foundation in Israel is to empower individuals and communities; we incubate and accelerate circles of change those who are strengthened, strengthen others, and lead the way to promoting the prosperity of Israel and the well-being of all its citizens. Chef America wanted a more central location between its California and Kentucky manufacturing operations. In 1974, David and Paul formed a company in Southern California, which they originally called General American Foods. 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. David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. Initially, Paul Merage had to obtain three Mortgages on his home to fund the business. The CIG Group manages more than $2 billion worth of assets. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. At the time of its sale to Nestl in 2002, the company had reached $750 million in annual sales, employed 1,800 people, and was growing at a rate of 15% per year, making it one of the fastest-growing food companies in the world. 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 . His management team is comprised of experts in the education and non-profit sectors, supported by senior-level finance, legal, management, and marketing professionals. David and brother, Paul, sold Chef America toNestle in 2002. Today the MIG Group manages over $1 billion worth of assets, mostly commercial real estate but also some private equity venture capital investments. 2020. 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. 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. 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 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. 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. 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. 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. Its politics. The patchwork of government programs for adults with disabilities, and their varying eligibility rules, create complications and traps. [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. 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. 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. 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. Through our Merage Foundation initiatives we create opportunities that increase well-being and positive life outcomes. When David and his brother sold Chef America in the early 2000s, David and Laura decided to deepen their giving by establishing a multimillion dollar foundation, using funds from the sale for philanthropic investment. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". Their instincts were right. After graduating from Sacramento State University with a degree in marketing, David began investing in real estate with his father and demonstrated a keen eye for identifying and capitalizing on market trends. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. "For months we spent every night in our mother's kitchen cooking up recipes," says David. 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. There are four rules that I absolutely live by without compromise. 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. The Merage Foundations have positively impacted hundreds of thousands of peoples lives both in the US and globally. [2] Chef America started by selling frozen Belgian waffles - then largely unfamiliar in the United States - to restaurants as they were difficult to cook. What do you think is the role of philanthropy in the world today? 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. If you walk through that door you find that there are many new doors that begin to open up. Over the last two decades, not only have David and Laura continued to deepen their philanthropic commitment, they are also honoring their ancestors who taught them the value of giving back by cultivating generational philanthropy with their children and grandchildren. In 1971, Andre and Katherine also moved to California. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. 1946 investigates how the word homosexual entered the Bible, how one man tried to stop it, and how a team of researchers recently unearthed evidence that challenges deeply held beliefs about LGBTQ+ people.