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Sam Zell, Jewish billionaire whose media purchase tarnished a legendary career, dies at 81
(JTA) — Sam Zell, a Chicago real estate magnate and son of Holocaust survivors who led a tumultuous leveraged buyout that bankrupted the Tribune media company in the early 2000s, died Thursday. He was 81.
Before buying the Tribune Co. in 2007, the billionaire was known for his gift for reviving moribund companies. He developed an office-tower company that he sold to the Blackstone Group for $39 billion in 2007. His firm also invested in manufacturing, travel, retail, healthcare and energy. He pioneered the use of REITs, real estate securities that trade like stocks on the major exchanges.
But Zell appeared to lose his magic touch in 2007 after buying the Tribune company and its assets, which included televisions stations, the Chicago Cubs baseball team and major newspapers, including the Chicago Tribune and the Los Angeles Times. The company foundered in what Zell himself called the “deal from hell,” and filed for bankruptcy in December 2008, one year after Zell took the company private in a heavily leveraged $8.2 billion deal. The deal took place at a time of declining fortunes in the media industry, Zell’s personal leadership and decision to saddle the company with debt were widely blamed for the failure.
“The ‘grave dancer’ of real estate development was now the ‘grave digger’ of the newspaper world,” a Forbes columnist wrote at the time.
Zell was a major donor to Jewish causes, including the Herzliya Interdisciplinary Center in Israel, the Israel Center for Social and Economic Progress, the American Jewish Committee and the Bernard Zell Anshe Emet Day School, named for his father, in Chicago. (Its alumni include former Chicago Mayor Rahm Emanuel and actor Ike Barinholtz; a Jewish high school in Chicago is named for Zell’s mother Sophie.)
According to a 2007 profile in the Forward, Zell would regale campers as a Jewish summer camp counselor with tales of his parents’ escape from the Holocaust. According to his 2017 autobiography, “Am I Being Too Subtle? Straight Talk From a Business Rebel,” Zell’s parents, then known as Ruchla and Berek Zielonka, escaped from Poland at the onset of the Nazi invasion and embarked with their 2-year-old daughter on a circuitous, 21-month journey that took them through Lithuania, Russia and Japan before they made it to the United States. They travelled on transit visas supplied by Chiune Sugihara, a Japanese diplomat in Vilnius who saved thousands of Jews.
Zell was born on Sept. 28, 1941, in Chicago. He graduated in 1963 from the University of Michigan, where he was also a member of the Jewish Alpha Epsilon Pi fraternity. He managed student housing apartments as an undergraduate and founded his chief investment vehicle, Equity Group Investments, in 1968.
“Sam Zell was a self-made, visionary entrepreneur. He launched and grew hundreds of companies during his 60-plus-year career and created countless jobs,” Equity Group Investments said in a written statement on Thursday. “Although his investments spanned industries across the globe, he was most widely recognized for his critical role in creating the modern real estate investment trust, which today is a more than $4 trillion industry.”
Zell was married three times. His survivors include his wife, Helen, three children and nine grandchildren.
Zell credited his own drive to the lessons he learned from his parents. In his memoir, he remembers seeing footage of the concentration camp atrocities that his parents escaped.
“Those unforgettable images were my introduction to the Holocaust,” Zell wrote. “Looking back, I can see that they accelerated my maturity and gave me a sober awareness of the world. That film also went a long way toward helping me understand my parents’ orientation toward life — why they pushed so hard and were so determined for their children to succeed. Economic success had been critical in securing their freedom. They had escaped Poland in part because they had the means to do so — my father’s prescience in storing away money.”
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Iron Beam: IDF’s First Operational High-Power Laser Defense System
The “Or Eitan” system. Photo: Spokesperson and Public Relations Division of the Ministry of Defense
i24 News – Israel has achieved a major technological breakthrough in defense with the delivery of its first operational high-power laser system, “Or Eitan” (Iron Beam), to the IDF. The handover took place Sunday at Rafael’s facility, with Defense Minister Israel Katz and senior military and industry officials in attendance.
Developed over several years, “Iron Beam” is the first interception laser of its kind in the world to reach operational maturity.
During extensive testing, the system successfully intercepted rockets, mortar shells, and drones under conditions simulating real combat scenarios.
The laser will be integrated into Israel’s multi-layered air defense network, complementing the Iron Dome, David’s Sling, and Arrow systems. Operated by the Israeli Air Force, it offers a significant economic advantage: its marginal cost per interception is nearly zero, a major shift in the cost equation for missile defense.
The project was led by the Ministry of Defense’s Directorate of Research and Development in close cooperation with Rafael, Elbit Systems, responsible for the laser source, and other Israeli defense companies. Combining an advanced laser source with a unique electro-optical sight, the system provides maximum accuracy and efficiency at extended ranges.
The system’s name, “Or Eitan,” (Iron Beam) honors Captain Eitan Oster, who fell in battle in southern Lebanon.
Minister Katz described the milestone as a “game changer” that sends a strong message to Israel’s adversaries, from Tehran to Sanaa and Beirut. Rafael hailed the delivery as the beginning of the defensive laser era, placing Israel at the forefront of interception technology worldwide and reinforcing its strategic technological edge for future security challenges.
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21 Arab, Islamic, African States and Entities Condemn Israel’s Recognition of Somaliland
The signatories’ flags enclosed in the statement in Arabic. Photo: Screenshot via i24.
i24 News – A group of 21 Arab, Islamic and African countries, organizations and entities issued on Saturday a joint statement condemning Israel’s recognition of Somaliland sovereignty.
The statement’s signatories said that they condemn and reject Israel’s recognition of Somaliland “in light of the serious repercussions to peace and security in the Horn of Africa and the Red Sea region, and its serious impacts on international peace and security, which also reflects Israel’s clear and complete disregard for international law.”
It was signed by: Saudi Arabia, Egypt, Turkey, Iran, Pakistan, Qatar, Jordan, Algeria, Iraq, Kuwait, Oman, Libya, Palestine, Somalia, Sudan, Yemen, Comoros, Djibouti, Gambia, Maldives, Nigeria and the Organization of Islamic Cooperation (OIC).
The joint statement voiced support “for the sovereignty of Somalia and reject any measures that would undermine its unity, territorial integrity, and sovereignty over all its lands.”
The signatories also “categorically reject linking Israel’s recognition of the territory of the land of Somalia with any plans to displace the Palestinian people outside their land.”
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Nvidia, Joining Big Tech Deal Spree, to License Groq Technology, Hire Executives
A NVIDIA logo appears in this illustration taken Aug. 25, 2025. Photo: REUTERS/Dado Ruvic/Illustration
Nvidia has agreed to license chip technology from startup Groq and hire away its CEO, a veteran of Alphabet’s Google, Groq said in a blog post on Wednesday.
The deal follows a familiar pattern in recent years where the world’s biggest technology firms pay large sums in deals with promising startups to take their technology and talent but stop short of formally acquiring the target.
Groq specializes in what is known as inference, where artificial intelligence models that have already been trained respond to requests from users. While Nvidia dominates the market for training AI models, it faces much more competition in inference, where traditional rivals such as Advanced Micro Devices have aimed to challenge it as well as startups such as Groq and Cerebras Systems.
Nvidia has agreed to a “non-exclusive” license to Groq’s technology, Groq said. It said its founder Jonathan Ross, who helped Google start its AI chip program, as well as Groq President Sunny Madra and other members of its engineering team, will join Nvidia.
A person close to Nvidia confirmed the licensing agreement.
Groq did not disclose financial details of the deal. CNBC reported that Nvidia had agreed to acquire Groq for $20 billion in cash, but neither Nvidia nor Groq commented on the report. Groq said in its blog post that it will continue to operate as an independent company with Simon Edwards as CEO and that its cloud business will continue operating.
In similar recent deals, Microsoft’s top AI executive came through a $650 million deal with a startup that was billed as a licensing fee, and Meta spent $15 billion to hire Scale AI’s CEO without acquiring the entire firm. Amazon hired away founders from Adept AI, and Nvidia did a similar deal this year. The deals have faced scrutiny by regulators, though none has yet been unwound.
“Antitrust would seem to be the primary risk here, though structuring the deal as a non-exclusive license may keep the fiction of competition alive (even as Groq’s leadership and, we would presume, technical talent move over to Nvidia),” Bernstein analyst Stacy Rasgon wrote in a note to clients on Wednesday after Groq’s announcement. And Nvidia CEO Jensen Huang’s “relationship with the Trump administration appears among the strongest of the key US tech companies.”
Groq more than doubled its valuation to $6.9 billion from $2.8 billion in August last year, following a $750 million funding round in September.
Groq is one of a number of upstarts that do not use external high-bandwidth memory chips, freeing them from the memory crunch affecting the global chip industry. The approach, which uses a form of on-chip memory called SRAM, helps speed up interactions with chatbots and other AI models but also limits the size of the model that can be served.
Groq’s primary rival in the approach is Cerebras Systems, which Reuters this month reported plans to go public as soon as next year. Groq and Cerebras have signed large deals in the Middle East.
Nvidia’s Huang spent much of his biggest keynote speech of 2025 arguing that Nvidia would be able to maintain its lead as AI markets shift from training to inference.