Paul Merage (b. 1943) is an American billionaire businessman renowned for co-founding Chef America Inc., the company behind the popular microwavable snack Hot Pockets. Born in Tehran, Iran, into a Jewish family, Merage immigrated to the United States at 17. He earned a B.A. in economics and an M.B.A. from the University of California, Berkeley. Merage started his career in product management at General Foods and other food companies before founding Chef America with his brother David in 1977. Initially funding the venture through personal mortgages and family loans, the company gained significant success with Hot Pockets, which catered to a growing demand for quick, microwaveable meals.
By 1986, as microwave usage became more common, Hot Pockets became a household staple, leading to the expansion of product lines such as Lean Pockets, Croissant Pockets, and Breakfast Pockets. In 2002, Merage sold Chef America to Nestlé for $2.6 billion.
Following the sale, Merage co-founded MIG, a group of investment companies, and remains an influential chairman. His investments span a variety of sectors, including real estate and private equity.
Beyond his business accomplishments, Merage is a dedicated philanthropist. He has made significant contributions, including a $30 million donation to the University of California, Irvine's Business School, which now bears his name. He also supports various educational and community initiatives, such as the Merage Institute for U.S.-Israel Trade and the El Sol Academy in Santa Ana, California.