Andre Merage died in 2001. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. "When the prices of ingredients went up, we asked our research and development team to find ways to offset them," says David, "and we looked for ways to be even more efficient. Similar to MIG, the CIG Group also invests in commercial real estate, capital markets and private equity. [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. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. 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. Company leaders receive ongoing support in team building, empowerment training and practical assistance for events, activities and volunteering opportunities. In my quest for answers, Shmulick Riffman, then-mayor of Ramat HaNegev, and a great Zionist dedicated to the Negevs development, became my mentor. CIG is in the process of buying another food company, which David declines to identify because the deal has not yet closed. 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. Photo by Kathryn Scott Osler/The Denver Post via Getty Images. After selling the company, Paul launched a private investment firm called the MIG Group. Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. 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. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. [2] As microwave ownership increased and as more women entered the workforce Hot pockets gained greater recognition and eventually became a success. Poring over thousands of historical documents, centuries of ancient texts, and Bible translations in many languages, the experts in the film conclude that two Greek words were mistranslated to mean homosexual. That's very important to him. The CIG Group manages more than $2 billion worth of assets. Building on our early success, we soon began research and development of a frozen lunch product which we called the Hot Pocket and sold to schools, catering and vending companies. Financial Aid Is Changing. He serves as chairman of MIG parent companies. ". As an accomplished artist and venture philanthropist, Laura Merage works to positively influence the lives of thousands of people every day. "I've been fortunate to do what I love for the past 40 years and derive such joy from my work. 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. Operation Varsity Blues college admissions scandal, Jewish Journal: "Photo Essay: L.A.s Iranian Jews repaying Alliances generosity" by Karmel Melamed, "Merage Jewish Community Center of Orange County, California", "Special Lecture by David Merage, Entrepreneur and Co-Founder, Chef America", "Nestle to Move HOT POCKETS and LEAN POCKETS Business to Ohio", "Hot Pockets heiress Michelle Janavs gets 5 months in prison in admissions scandal", "Admissions scandal: Heir to Hot Pockets fortune sentenced to 5 month", https://en.wikipedia.org/w/index.php?title=Merage_family&oldid=1131811897, Pages using infobox family with unknown parameters, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 5 January 2023, at 21:52. He has worked to re-create that culture at CIG. David and brother, Paul, sold Chef America toNestle in 2002. The gala will honor designer Karl Lagerfeld on May 1. In 1968, David joined Paul in California. ", 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. They quickly ran out of that money and the brothers were forced to ask for a loan from their parents. ", 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. 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. It addresses new technologies in such fields as life sciences, security, military, IT, food/agriculture and Financial Transactions. My research into her case showed me this was a very typical situation for most Iranians who immigrated to Israel. Chef America then marketed Hot Pockets nationally. [6] MIG Real Estate, managed by Greg Merage is involved in development and management of commercial real estate. The David and Laura Merage Foundation is centered on the belief that education is the gateway to optimal life outcomes. "After a year and a half of testing, we developed the first generation of frozen waffles. "What I've learned from working with David," he says, " is that product quality is king. Also, throughout the years, Shimon Peres supported our work and later became the Minister for the Development of the Negev and the Galilee. MIG Private Equity is a fund of funds with a portfolio of investments ranging from consumer products to technology companies. So far, Echo has invested in Boomerang Pies, a company in Austin, Texas, that sells frozen, handheld, all-natural, minced meat and kidney pies, adapted from Australian recipes. need for a hot meal or snack that children could easily prepare themselves when returning from school. What do you think is the role of philanthropy in the world today? At Chef America, David's strong suit was creating the company culture that contributed so much to the business's success. 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. Today, David Merage runs Consolidated Investment Group (CIG), a Denver-based company investing in real estate, capital markets and private equity. In 1971, Andre and Katherine also moved to California. Submit a correction suggestion and help us fix it! 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. At the age of 15, he traveled to England to pursue his studies and then completed his formal education in the United States with a Bachelor of Science degree in Marketing from California State University.
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