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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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Some Tankers Cross Strait of Hormuz Before Shots Fired, Ship-Tracking Data Shows
A satellite image shows the ship movement at the Strait of Hormuz on April 17, 2026, in Space. EUROPEAN UNION/COPERNICUS SENTINEL-2/Handout via REUTERS
More than a dozen tankers, including three sanctioned vessels, passed through the Strait of Hormuz after a 50-day blockade was lifted on Friday, shipping data showed, before Iran reimposed restrictions on Saturday and fired at some vessels.
Reopening the strait is key for Gulf producers to resume full oil and gas supplies to the world, and end what the International Energy Agency has called the worst-ever supply disruption.
US President Donald Trump said on Friday Iran had agreed to open the strait, while Iranian officials said they wanted the US to fully lift its blockade of Iranian tankers.
Western shipping companies cautiously welcomed the announcements but said more clarity was needed, including on the presence of sea mines, before their vessels could transit.
IRAN RESUMES RESTRICTIONS
The ships that passed through the strait on Friday and Saturday via Iranian waters south of Larak island were mainly older, non-Western-owned vessels and included four sanctioned ships, according to ship-tracking data.
Iran arranged passage for a limited number of oil tankers and commercial ships following prior agreements in negotiations, a spokesperson for Iran’s Revolutionary Guards said.
Other ships have been seen approaching the strait and turning back as Iran said it would maintain strict controls as long as the US continues its blockade of Iranian ports.
The UK Navy reported on Saturday that Iranian gunboats fired at some ships attempting to cross the strait.
Some merchant vessels received radio messages from Iran’s navy saying the strait was shut again and that no ships were allowed to pass, shipping sources said on Saturday.
Ship-tracking data showed five vessels loaded with liquefied natural gas from Ras Laffan in Qatar approaching the strait on Saturday morning.
No LNG cargoes have transited the waterway since the US-Israeli war with Iran began on February 28.
Hundreds of ships have been stuck in the Gulf since the conflict started and Tehran closed the strait, forcing Gulf oil and gas producers to sharply cut production.
Top producers such as Saudi Arabia, the UAE, Iraq and Kuwait say they need steady tanker flows and unrestricted passage through the strait to resume normal export operations.
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Trump Greenlights Russian Oil to Ease Strain on Global Markets After War with Iran
US Treasury Secretary Scott Bessent in Washington, DC, US, March 27, 2026. Photo: REUTERS/Jonathan Ernst
i24 News – The Trump administration has authorized a 30-day emergency waiver allowing the maritime purchase of Russian oil, reversing a hardline stance in an effort to stabilize skyrocketing global energy prices.
The Treasury Department announced Friday that the license for crude and petroleum products will remain in effect until May 16, 2026, responding to intense pressure from international partners struggling with the fallout of the war with Iran.
This policy pivot comes as a surprise after Treasury Secretary Scott Bessent suggested earlier this week that no further exemptions would be granted:
“As negotiations with Iran accelerate, the administration seeks to ensure oil availability for those who need it most. We must prevent a total price collapse for consumers while the geopolitical situation remains volatile.”
Ensuring global oil availability is paramount for the US as over 80 energy facilities in the Middle East have been damaged by recent war with Iran. With the November midterm elections approaching, record-high fuel prices at the pump remain a primary vulnerability for the Republican party. By allowing Russian oil back into the maritime flow, the administration hopes to neutralize “pain at the pump” before voters head to the polls.
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UK: Islamist Group Claims to Attack Israeli Embassy with ‘Drones Carrying Radioactive, Carcinogenic Materials’
A UK man has been arrested for allegedly threatening a group of Jews while wielding an ax on Rosh Hashanah. Photo: Tony Webster / Wikimedia Commons.
i24 News – British police officers in protective clothing were seen investigating a “security incident” near the Israeli embassy in London on Friday, after a jihadist group put out a video showing it launching two drones allegedly carrying radioactive and carcinogenic materials toward the embassy.
“There is an increased police presence in Kensington Gardens and officers are assessing a number of discarded items. As a precaution, some of the officers who have been deployed are wearing protective clothing. We recognize this may concern local residents and the wider public,” police said in a statement.
“Counter Terrorism Policing London are aware of a video shared online overnight in which a group claims to have targeted the nearby embassy of Israel with drones carrying dangerous substances,” the statement further read. “While we can confirm that the embassy has not been attacked, we are carrying out urgent inquiries to determine the authenticity of the video and to identify any potential link between it and the items discarded in Kensington Gardens.”
The incident comes amid a steep hike in antisemitic attacks in Britain targeting Jewish and Israeli individuals and institutions.
The group that released the video was identified as Harakat Ashab al-Yamin al-Islamia, a shadowy entity with suspected ties to Iran. It has already claimed seven attacks against Jewish institutions, including an arson attack in London where four ambulances owned by the Hatzolah charity were torched.