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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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In Rare Messages from Iran, Protesters ask West for Help, Speak of ‘Very High’ Death Toll
Protests in Tehran. Photo: Iran Photo from social media used in accordance with Clause 27a of the Copyright Law, via i24 News
i24 News – Speaking to Western media from beyond the nationwide internet blackout imposed by the Islamic regime, Iranian protesters said they needed support amid a brutal crackdown.
“We’re standing up for a revolution, but we need help. Snipers have been stationed behind the Tajrish Arg area [a neighborhood in Tehran],” said a protester in Tehran speaking to the Guardian on the condition of anonymity. He added that “We saw hundreds of bodies.”
Another activist in Tehran spoke of witnessing security forces firing live ammunition at protesters resulting in a “very high” number killed.
On Friday, TIME magazine cited a Tehran doctor speaking on condition of anonymity that just six hospitals in the capital recorded at least 217 killed protesters, “most by live ammunition.”
Speaking to Reuters on Saturday, Setare Ghorbani, a French-Iranian national living in the suburbs of Paris, said that she became ill from worry for her friends inside Iran. She read out one of her friends’ last messages before losing contact: “I saw two government agents and they grabbed people, they fought so much, and I don’t know if they died or not.”
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Report: US Increasingly Regards Iran Protests as Having Potential to Overthrow Regime
United States President Donald J Trump in White House in Washington, DC, USA, on Thursday, December 18, 2025. Photo: Aaron Schwartz via Reuters Connect.
i24 News – The assessment in Washington of the strength and scope of the Iran protests has shifted after Thursday’s turnout, with US officials now inclined to grant the possibility that this could be a game changer, Axios reported on Friday.
“The protests are serious, and we will continue to monitor them,” an unnamed senior US official was quoted as saying in the report.
Iran was largely cut off from the outside world on Friday after the Islamic regime blacked out the internet to curb growing unrest, as videos circulating on social media showed buildings ablaze in anti-government protests raging across the country.
US President Donald Trump warned the Ayatollahs of a strong response if security forces escalate violence against protesters.
“We’re watching it very closely. If they start killing people like they have in the past, I think they’re going to get hit very hard by the United States,” Trump told reporters when asked about the unrest in Iran.
The latest reported death toll is at 51 protesters, including nine children.
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Iran’s Guards Declare ‘Red Line’ on Security as Tehran Seeks to Quell Unrest
FILE PHOTO: Protesters gather as vehicles burn, amid evolving anti-government unrest, in Tehran, Iran, in this screen grab obtained from a social media video released on January 9, 2026. Social Media/via REUTERS/File Photo
Iran’s Revolutionary Guards warned on Saturday that safeguarding security was a “red line” and the military vowed to protect public property, as the clerical establishment stepped up efforts to quell the most widespread protests in years.
The statements came after US President Donald Trump issued a new warning to Iran’s leaders on Friday, and after Secretary of State Marco Rubio on Saturday declared: “The United States supports the brave people of Iran.”
Unrest continued overnight. State media said a municipal building was set on fire in Karaj, west of Tehran, and blamed “rioters.” State TV broadcast footage of funerals of members of the security forces it said were killed in protests in the cities of Shiraz, Qom and Hamedan.
Protests have spread across much of Iran over the last two weeks, beginning in response to soaring inflation, but quickly turned political with protesters demanding an end to clerical rule. Authorities accuse the US and Israel of fomenting “the riots.” Rights groups have documented dozens of deaths of protesters.
ARMY SAYS ‘TERRORIST GROUPS’ SEEK TO UNDERMINE SECURITY
Authorities continued to impose an internet blackout.
A witness in western Iran reached by phone said the Revolutionary Guards (IRGC) were deployed and opening fire in the area from which they were speaking, declining to be identified for their safety.
In a statement broadcast by state TV, the IRGC – an elite force which has suppressed previous bouts of unrest – accused terrorists of targeting military and law enforcement bases over the past two nights, killing several citizens and security personnel and saying property had been set on fire.
Safeguarding the achievements of the 1979 Islamic revolution and maintaining security was “a red line,” it added, saying the continuation of the situation was unacceptable.
The military, which operates separately to the IRGC but is also commanded by Supreme Leader Ayatollah Ali Khamenei, announced it would “protect and safeguard national interests, the country’s strategic infrastructure, and public property.”
In a country with a history of fragmented opposition to clerical rule, the son of the last shah of Iran who was toppled in the 1979 Islamic revolution has emerged as a prominent voice abroad spurring on the protests.
PAHLAVI SAYS GOAL IS TO PREPARE TO ‘SEIZE CITY CENTRES’
In his latest appeal on the X social media platform, US-based Reza Pahlavi said: “Our goal is no longer merely to come into the streets; the goal is to prepare to seize city centres and hold them.”
He also called on “workers and employees in key sectors of the economy, especially transportation, and oil, and gas and energy,” to begin a nationwide strike.
Trump said on Thursday he was not inclined to meet Pahlavi, a sign that he was waiting to see how the crisis plays out before backing an opposition leader.
Trump, who bombed Iran last summer and warned Tehran last week the US could come to the protesters’ aid, issued another warning on Friday, saying: “You better not start shooting because we’ll start shooting too.”
“I just hope the protesters in Iran are going to be safe, because that’s a very dangerous place right now,” he added.
Some protesters on the streets have shouted slogans in support of Pahlavi, such as “Long live the shah,” although most chants have called for an end to rule by the clerics or demanded action to fix an economy hammered by years of US and other international sanctions and pummeled by the 12-day war in June, when Israel and the US launched air strikes on Iran.
A doctor in northwestern Iran said that since Friday, large numbers of injured protesters had been brought to hospitals. Some were badly beaten, suffering head injuries and broken legs and arms, as well as deep cuts.
At least 20 people in one hospital had been shot with live ammunition, five of whom later died.
On Friday, Khamenei accused protesters of acting on behalf of Trump, saying rioters were attacking public properties and warning that Tehran would not tolerate people acting as “mercenaries for foreigners.”
The Revolutionary Guards’ public relations office said three members of the Basij security force were killed and five wounded during clashes with what it described as “armed rioters” in Gachsaran, in the southwest.
Another security officer was stabbed to death in Hamedan, in western Iran. The son of a senior officer, Brigadier General Martyr Nourali Shoushtari, was killed in the Ahmadabad area of Mashhad, in the northeast. Two other security personnel were killed over the past two nights in Shushtar, in Khuzestan province.
The protests pose the biggest internal challenge in at least three years to Iran’s clerical rulers, who look more vulnerable than during past bouts of unrest amid a dire economic situation and after last year’s war.
The leaders of France, Britain and Germany issued a joint statement on Friday condemning the killing of protesters and urged the Iranian authorities to refrain from violence.
Authorities have described protests over the economy as legitimate while condemning what they call violent rioters and cracking down with security forces.
Iran’s clerical establishment has weathered repeated past bouts of unrest, including student protests in 1999, over a disputed election in 2009, against economic hardships in 2019, and the 2022 Woman, Life, Freedom protests.
Iranian rights group HRANA said it had documented 65 deaths including 50 protesters and 15 security personnel as of January 9. The Norway-based human rights group Hengaw said more than 2,500 people had been arrested over the past two weeks.