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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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Downed Planes Raise New Perils for Trump as Tehran Hunts for Missing US Pilot
Traces of an Iranian missile attack in Tehran’s sky, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, April 3, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
Two US warplanes were downed over Iran and the Gulf, Iranian and US officials said on Friday, with two pilots rescued and a third still missing and being hunted by Tehran’s forces.
The incidents show the risks still faced by US and Israeli aircraft over Iran despite assertions from US President Donald Trump and his Defense Secretary Pete Hegseth that their forces had total control of the skies.
The first plane, a two-seat US F-15E jet, was shot down by Iranian fire, officials in both countries said.
The second plane, an A-10 Warthog fighter aircraft, was hit by Iranian fire and crashed over Kuwait, with the pilot ejecting, two US officials said.
Two Blackhawk helicopters involved in the search effort for the missing pilot were hit by Iranian fire but made it out of Iranian airspace, the two US officials told Reuters.
The degree of injuries among the crew of the aircraft remained unclear. The status and whereabouts of the missing F-15E crew member was not publicly known.
Iran’s Revolutionary Guard Corps said it was combing an area near where the pilot’s plane came down in southwestern Iran and the regional governor promised a commendation for anyone who captured or killed “forces of the hostile enemy.”
Iranians, who have been pummeled by American air power for weeks, posted gleeful messages celebrating the plane downings. Iran’s Parliament Speaker Mohammad Baqer Qalibaf said on X that the U.S. and Israel’s war had been “downgraded from regime change” to a hunt for their pilots.
Trump has been in the White House receiving updates on the search-and-rescue operation, a senior administration official told Reuters. The Pentagon and US Central Command did not immediately respond to requests for comment.
NO SIGN OF END TO WAR
The prospect of a US service person being alive and on the run inside Iran raises the stakes for Washington in a conflict with low public support and no sign of an imminent end.
Iran has officially told mediators it is not prepared to meet with US officials in Islamabad in coming days and that efforts to produce a ceasefire, led by Pakistan, have reached a dead end, the Wall Street Journal reported on Friday.
The US and Israel opened the campaign with a wave of strikes that killed Iran’s Supreme Leader Ayatollah Ali Khamenei on February 28. The war has killed thousands and threatened lasting damage to the global economy.
So far, 13 US military service members have been killed in the conflict and more than 300 have been wounded, according to the US Central Command.
Iran has rained down drones and missiles on Israel. It has also taken aim at Gulf countries allied to the US, which have so far held back from joining the war directly for fear of further escalation.
In a security alert on Friday, the US embassy in Beirut said Iran and its aligned armed groups may target universities in Lebanon and urged US citizens in the country to leave while commercial flights are still available.
Israel has been waging a parallel campaign against Iran-backed Hezbollah in Lebanon after the militant group fired at Israel in support of Iran.
TRUMP THREAT TO STRIKE BRIDGES, POWER PLANTS
On Friday, as Trump threatened to hit its bridges and power plants, Iran struck a power and water plant in Kuwait, underlining the vulnerability of Gulf states that rely heavily on desalination plants for drinking water.
On Thursday, Trump posted footage on social media showing dust and smoke billowing up as US strikes hit the newly constructed B1 bridge between Tehran and nearby Karaj, which was due to open this year, and said more attacks would follow.
“Our Military, the greatest and most powerful (by far!) anywhere in the World, hasn’t even started destroying what’s left in Iran. Bridges next, then Electric Power Plants!” he wrote in a subsequent post.
On Friday, a drone hit a Red Crescent relief warehouse in the Choghadak area of Iran’s southern Bushehr province.
Kuwait Petroleum Corporation said its Mina al-Ahmadi refinery had been hit by drones. Other attacks were also reported to have been intercepted in Saudi Arabia and Abu Dhabi. Missile debris landed near the Israeli port of Haifa, site of a major oil refinery.
Oil markets were closed after benchmark U.S. crude prices gained 11% on Thursday following a speech by Trump that offered no clear sign of an imminent end to the war.
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US-Iran: Diplomatic Push Falters as Qatar Steps Back and Pakistan Talks Stall
Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani speaks after a meeting with the Lebanese president at the presidential palace in Baabda, Lebanon, Feb. 4, 2025. Photo: REUTERS/Emilie Madi
i24 News – Diplomatic efforts to secure a ceasefire between Washington and Tehran appear to have reached an impasse, as key regional mediators pull back and broader talks stall.
According to reporting by The Wall Street Journal, Qatar has informed US officials that it does not wish to take a central role in mediating between the two sides. Officials familiar with the matter said Doha has made clear it is “not willing” to lead negotiations or act as the primary broker.
At the same time, Pakistan-led efforts to bring Iranian and American officials together have also stalled. Mediators say Tehran has refused to attend proposed meetings in Islamabad, calling Washington’s conditions “unacceptable,” further underscoring the widening gap between the two sides and the growing difficulty of restarting dialogue.
Despite the deadlock, diplomatic channels have not fully closed. Turkey and Egypt are continuing parallel efforts to revive talks, with discussions underway about potential alternative venues, including Doha and Istanbul.
US President Donald Trump downplayed the impact of recent military developments on diplomacy, including the destruction of a US fighter jet during operations in Iran. Speaking in a brief exchange with an NBC News journalist, he said: “No, not at all. It’s war. We are at war.”
He further fueled speculation with a cryptic social media post on Truth Social, writing: “Keep the oil, anyone?” criticising international allies on Friday over rising fuel prices. Trump appeared to mock allies such as the United Kingdom, writing that they should “keep the oil.”
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Report: Iran Retains Significant Missile Capability Despite Weeks of US-Led Strikes
Iranian missiles are displayed in a park in Tehran, Iran, Jan. 31, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
i24 News – Despite weeks of sustained airstrikes by the United States and its allies, Iran has reportedly managed to retain a substantial portion of its military capabilities, particularly its ballistic missile arsenal.
According to a report by The New York Times citing US intelligence assessments, Tehran has developed methods to mitigate the impact of the strikes, allowing it to preserve and restore key parts of its missile infrastructure.
While the Pentagon has claimed responsibility for striking more than 11,000 targets over five weeks and reducing the rate of Iranian missile fire, intelligence officials now caution that the actual damage may be more limited than initially assessed. Iranian forces are reportedly able to rapidly repair or reactivate missile launchers stored in heavily fortified or underground facilities, sometimes within hours of being hit.
Analysts also point to the widespread use of decoy sites, which may have drawn strikes away from operational assets. Many of the targeted locations are believed to have contained dummy installations, complicating efforts to accurately gauge the degradation of Iran’s ballistic capabilities. Combined with deep underground bunkers and dispersed storage networks, this approach is seen as enabling Tehran to maintain a higher level of readiness than publicly estimated.
US intelligence officials assess that this resilience reflects a deliberate strategy: preserving a credible long-range strike capability as both a deterrent and a bargaining tool in any future negotiations, while ensuring regime survival and continued regional influence.
Despite sustained air dominance claimed by Washington and its allies, Iran’s adaptive tactics continue to complicate battlefield assessments, leaving the true balance of power in the conflict uncertain.