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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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Israel’s Netanyahu Hopes to ‘Taper’ Israel Off US Military Aid in Next Decade
Israeli Prime Minister Benjamin Netanyahu speaks to the press on Capitol Hill, Washington, DC, July 8, 2025. REUTERS/Evelyn Hockstein
Israeli Prime Minister Benjamin Netanyahu said in an interview published on Friday that he hopes to “taper off” Israeli dependence on US military aid in the next decade.
Netanyahu has said Israel should not be reliant on foreign military aid but has stopped short of declaring a firm timeline for when Israel would be fully independent from Washington.
“I want to taper off the military within the next 10 years,” Netanyahu told The Economist. Asked if that meant a tapering “down to zero,” he said: “Yes.”
Netanyahu said he told President Donald Trump during a recent visit that Israel “very deeply” appreciates “the military aid that America has given us over the years, but here too we’ve come of age and we’ve developed incredible capacities.”
In December, Netanyahu said Israel would spend 350 billion shekels ($110 billion) on developing an independent arms industry to reduce dependency on other countries.
In 2016, the US and Israeli governments signed a memorandum of understanding for the 10 years through September 2028 that provides $38 billion in military aid, $33 billion in grants to buy military equipment and $5 billion for missile defense systems.
Israeli defense exports rose 13 percent last year, with major contracts signed for Israeli defense technology including its advanced multi-layered aerial defense systems.
US Republican Senator Lindsey Graham, a staunch Israel supporter and close ally of Trump, said on X that “we need not wait ten years” to begin scaling back military aid to Israel.
“The billions in taxpayer dollars that would be saved by expediting the termination of military aid to Israel will and should be plowed back into the US military,” Graham said. “I will be presenting a proposal to Israel and the Trump administration to dramatically expedite the timetable.”
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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.