Paul Merage

Paul Merage

Infobox Celebrity
name = Paul Merage


caption =
birth_date =
birth_place = Tehran, Iran
residence = Englewood, Colorado
occupation = Entrepreneur
Philanthropist
salary =
networth = gainUS$550 miilion (2002)
spouse = Elisabeth Merage
children = Three
website =
footnotes =

Paul Merage is an Iranian-American entrepreneur. He is the former CEO and co-founder of Chef America Inc. who invented Hot Pockets microwaveable snacks.

He received a bachelors and an MBA from the Haas School of Business at the University of California, Berkeley. He and his brother David Merage founded Chef America which they sold to the Nestlé in 2002 for $2.6 billion.

In 2005, Paul Merage donated $30 million to the School of Business at UC Irvine, which was renamed the Paul Merage School of Business in his honor. Merage also donated to the Merage Jewish Community Center of Orange County, California.

Paul Merage came to the United States from Iran as a 16-year-old, founded Chef America frozen foods with his brother and invented the formula for microwave-crisping Hot Pockets sandwiches. They sold Chef America to Nestlé in 2002 for $2.6 billion. The company was still growing, but Merage wanted something more.

Merage moved from Colorado to Newport Beach and immediately became one of the county's most active philanthropists. UCI's business school bears his name after a $30 million gift, and he wants its graduates to steer the nation toward an "innovation economy."

He started four foundations with total assets of more than $35 million. The bulk of the money is in the family foundation, which gives to the other three: The Merage Foundation for the American Dream, which focuses on immigration issues and chooses bright young immigrants for $20,000 grants to help them achieve their goals; Children First, which recruits skilled retirees to work with low-income kids; and The Merage Foundation for U.S.-Israel Trade.

The $30 million donation, the largest ever for University of California-Irvine, was made by Paul Merage in April 2004 to the Graduate School. The gift will support the creation of endowed chairs that will facilitate the school's ongoing recruitment of top faculty; provide fellowships to support the recruitment and retention of top graduate students from around the country; and initiate innovative research centered around business growth. In recognition of the gift, the Graduate School of Management was renamed The Paul Merage School of Business.

Paul Merage is the Founder and President of the Merage Foundations. He is Chairman of Falcon Investment Management, a private investment management firm; Stoneridge Capital Partners, engaged in commercial real estate investments; and Silverpoint Investments, a private-equity capital company. Paul was the Founder and Chief Executive Officer of Chef America, a major manufacturer of frozen food products, best known for Hot Pockets. He is active in a number of philanthropic endeavors, including the Merage Foundations. Paul is also a Trustee of the University of California, Irvine, and he serves on the Boards of the Orange County Performing Arts Center and the Pacific Symphony. He holds a bachelor's degree in economics and master's degree in business administration from the University of California, Berkeley.

According to Forbes, his net worth is $550 million and his hometown is Englewood, Colorado. He is married with 3 children.

External links

* [http://www.merage.uci.edu/ University of California, Irvine | Paul Merage School of Business website]
* [http://www.hotpockets.com/ Hot Pockets Website]
* [http://www.ocregister.com/ocregister/life/features/article_1917398.php]
* [http://www.merage.uci.edu/~alumnews/05_04Apr/celebration.htm]

References

* [http://www.parstimes.com/news/archive/2005/merage_uci_gift.html School receives $30 million gift and new name]


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Paul Merage School of Business — Building The Paul Merage School of Business is an academic unit of the University of California, Irvine (UCI) that is charged with academic research in the field of business. The school confers Master of Business Administration (MBA) and Doctor… …   Wikipedia

  • The Paul Merage School of Business — The school of business of the University of California, Irvine. The Paul Merage School of Business traditionally offered only graduate and doctorate level programs, but began enrolling undergraduates in 2008. It offers a variety of business… …   Investment dictionary

  • David Merage — is an American businessman and venture philanthropist who co founded the frozen microwave snack Hot Pockets, Lean Pockets, and Crossiant Pockets. He and his brother Paul Merage later sold the company to Nestlé for $2.6 billion. [1] References ^… …   Wikipedia

  • Chef America Inc. — Chef America Inc. Industry Frozen food Fate Acquired by Nestlé Successor Nestlé Founded Late 1970s Defunct 2002 Headquarters …   Wikipedia

  • Donald Bren School of Information and Computer Sciences — Donald Bren Hall, one of the buildings on the campus of the Bren School[1] …   Wikipedia

  • Haas School of Business — Infobox University name = The Haas School of Business motto = Leading Through Innovation established = 1898 type = Public dean = Richard Lyons city = Berkeley state = California country = USA website = [http://www.haas.berkeley.edu/… …   Wikipedia

  • University of California, Irvine — Infobox University name = University of California, Irvine motto = Fiat lux (Latin) mottoeng = Let there be light image size = 180px established =1965 type =Public, Land, Space Granted Research University calendar = Quarter endowment =US $234… …   Wikipedia

  • University of California, Irvine academics — The University of California, Irvine has over fourteen academic divisions. US News ranks sixteen of its graduate programs as among the top 20 in their fields. AcademicsAdmissionsLike most of the other schools of the UC system, UC Irvine is… …   Wikipedia

  • UC Irvine — Université de Californie à Irvine L Université de Californie à Irvine (communément appélée UC Irvine) est un campus de l Université de Californie fondé en 1965, situé à Irvine. Le campus est à 64 kilomètres (40 miles) de Los Angeles. Le nom de l… …   Wikipédia en Français

  • Universite de Californie a Irvine — Université de Californie à Irvine L Université de Californie à Irvine (communément appélée UC Irvine) est un campus de l Université de Californie fondé en 1965, situé à Irvine. Le campus est à 64 kilomètres (40 miles) de Los Angeles. Le nom de l… …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”