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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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Netanyahu: ‘Our Forces Are Striking the Heart of Tehran With Increasing Strength’
Israeli Prime Minister Benjamin Netanyahu participates in the state memorial ceremony for the fallen of the Iron Swords War on Mount Herzl, in Jerusalem, Oct. 16, 2025. Photo: Alex Kolomoisky/Pool via REUTERS
i24 News – Israeli Prime Minister Benjamin Netanyahu stated that Israeli forces had “eliminated the dictator Ali Khamenei” along with dozens of senior officials of Iran’s regime during a statement delivered from the roof of the Kirya, Israel’s defense headquarters.
“Yesterday, we eliminated the dictator Khamenei. Along with him, dozens of senior officials from the oppressive regime were eliminated,” Netanyahu said after a meeting with the Minister of Defense, the Chief of Staff, and the Director of Mossad. He added that he had issued instructions to continue the offensive.
According to Netanyahu, Israeli forces are “now striking at the heart of Tehran with increasing intensity,” a campaign he said will “increase further in the days to come.”
The Prime Minister also acknowledged the toll of the conflict on Israel, calling recent days “painful” and offering condolences to the families of victims in Tel Aviv and Beit Shemesh, while wishing a speedy recovery to those injured.
Netanyahu emphasized that the operation mobilizes “the full power of the Israel Defense Forces, like never before,” in order to “guarantee our existence and our future.” He also highlighted US support, noting “the assistance of my friend, the President of the United States, Donald Trump, and of the American military.”
“This combination of forces allows us to do what I have hoped to accomplish for 40 years: strike the terrorist regime right in the face,” Netanyahu concluded. “I promised it — and we will keep our word.”
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Trump Says Iran Military Operations Are ‘Ahead of Schedule,’ CNBC Reports
U.S. President Donald Trump speaks with White House Chief of Staff Susie Wiles and Secretary of State Marco Rubio during military operations in Iran, at Trump’s Mar-a-Lago resort in Palm Beach, Florida, U.S. February 28, 2026. The White House/Social Media/Handout via REUTERS
US President Donald Trump told CNBC on Sunday that US military operations against Iran are “ahead of schedule.”
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Iranian Missile Strike on Beit Shemesh in Israel Kills 9
Emergency personnel work at the site of an Iranian strike, after Iran launched missile barrages following attacks by the US and Israel on Saturday, in Beit Shemesh, Israel, March 1, 2026. Photo: REUTERS/Ammar Awad
An Iranian missile strike hit the Israeli city of Beit Shemesh on Sunday, killing nine people and wounding dozens, in what authorities described as a direct impact on a public bomb shelter.
A ballistic missile leveled the bomb shelter, leaving a large crater in its wake. Most, if not all, of those killed had been taking cover inside the shelter when it hit, Jerusalem Police Deputy Commissioner Avshalom Peled said at the impact scene.
Those in critical condition were airlifted to Shaare Zedek Medical Center, a spokesperson for the Israel Defense Forces (IDF) said.
At least 20 people were still missing late on Sunday afternoon local time.
As you read this, an Iranian missile has just struck a residential neighborhood in Beit Shemesh, Israel, only 30 kilometers/about 18 miles from Jerusalem.
Nine people are dead.
More than 20 are wounded, including children. A
public shelter collapsed from the direct hit. An… pic.twitter.com/mEVDlPEqgf
— Ella Kenan (@EllaTravelsLove) March 1, 2026
Several buildings surrounding the shelter in Beit Shemesh, which is west of Jerusalem, were also damaged in the attack, with two collapsing entirely. A synagogue was also destroyed.
Emergency crews from Magen David Adom, ZAKA, and United Hatzalah joined fire and rescue units at the site, combing damaged buildings and debris for possible survivors. Many people were trapped under rubble or inside apartments, first responders said.
The Iranian Regime directly fired missiles toward the civilian neighborhood of Beit Shemesh, killing innocent civilians.
The Iranian regime purposely targets civilian targets while we precisely target terror targets. This is who we’re operating against—a regime who uses… pic.twitter.com/9W8Fp4T2tH
— Israel Defense Forces (@IDF) March 1, 2026
Chaim Wingarten, deputy director of operations at rescue organization ZAKA, described the scenes as “very difficult.”
“When I arrived, it was a huge chaos, with wounded people everywhere,” he said.
The strike was part of a larger volley that triggered air-raid sirens across the country. A man in his fifties was wounded by shrapnel elsewhere in central Israel.
IDF foreign media spokesman Lt. Col. Nadav Shoshani charged Iran with deliberately firing at civilians. “We know this is their strategy,” he said, adding that Israel would do “everything in our power to remove these capabilities from this bloodthirsty terrorist regime.”
The Beit Shemesh hit marked the highest single-incident death toll inside Israel since the confrontation with Iran began a day earlier. The previous peak came during the 12-day war in June 2025, when a missile slammed into an apartment block in Bat Yam and killed nine people.
The Beit Shemesh strike came a day after US and Israeli forces struck a compound in Tehran killing senior Iranian officials, including Supreme Leader Ayatollah Ali Khamenei, whose death was later announced on Iranian state television.
In an interview with Fox News on Sunday, Trump said 48 Iranian leaders were killed in the strikes. “Nobody can believe the success we’re having; 48 leaders are gone in one shot. And it’s moving along rapidly,” he said.
Separately, the American president told CNBC that the US operation was “ahead of schedule.”
Thousands of Iranians braved the strikes and took to the streets to celebrate Khamenei’s death on Saturday evening. Many people stood on balconies and at windows chanting “freedom, freedom,” The New York Times reported. People in the Iranian city of Shiraz were “abandoning their cars for an impromptu dance party, whistling, cheering, clapping, and screaming with joy. In many videos, celebrants joined together in a cheer that is typically reserved for weddings, symbolizing pure joy,” the report said.
GeoConfirmed Iran.
People chanting – Celebrations through the Foolad Shahr area in Isfahan with joy and jubilation over the killing of Khamenei.
Rough location – 32.48169, 51.39167
F9JR+MMF Fuladshahr, Isfahan Province, IranGeoLocated by @Mitch_Ulrich
Geolocation:… https://t.co/iv9TlSPPfS
— GeoConfirmed (@GeoConfirmed) February 28, 2026
Can you hear the joy in his voice?
“I am dreaming, hello world!” pic.twitter.com/ICq77zBerv— William Mehrvarz (@WilliamMehrvarz) March 1, 2026
Iran retaliated by firing repeated waves of missiles and drones, with launches aimed not only at Israel but also at US bases in the Middle East, including Qatar, Kuwait, the United Arab Emirates, and Bahrain. Iran on Sunday morning also launched two missiles at Cyprus, where thousands of British military personnel are stationed, which fell short.
Later in the afternoon, the US acknowledged its first losses with US Central Command, saying three American service members were killed and five were seriously wounded during the operations in Iran.