Izak Parviz Nazarian facts for kids

Izak Parviz Nazarian (born February 24, 1929 – died August 23, 2017) was a very successful businessman and investor. He was born in Iran and later became an American citizen. He was also a philanthropist, meaning he gave a lot of money to help others. Mr. Nazarian was a main partner at Omninet Capital, an investment company. He was also one of the first big investors in Qualcomm, a famous technology company.

Early Life and Moving to Israel

Izak Parviz Nazarian was born in 1929 in Tehran, Iran. His family was Persian-Jewish. When he was five years old, his father passed away. His mother then opened a sewing shop to support the family. He also had a brother named Younes Nazarian.

He went to school in Tehran. During World War II in 1943, he worked as a waiter's helper. He was only 14 years old at the time.

When he was 18, Mr. Nazarian moved to Italy. In 1947, he joined a group called the Haganah in Genoa. This group helped Jewish people move to Israel. On May 17, 1948, just three days after Israel became an independent country, he moved there.

He joined the Israel Defense Forces (IDF) and fought in the 1948 Arab–Israeli War. He was part of the 7th Armored Brigade. During the war, he was hurt in an explosion and spent five months in the hospital. After he recovered, he continued to serve in the IDF. He even worked as a driver for Golda Meir, who later became Israel's Foreign Minister.

Building a Business Empire

After his time in the IDF, Mr. Nazarian started his first business. He bought trucks and hired drivers to move gravel to construction sites in Israel. He also owned a factory that made cement.

In 1957, he returned to Iran. There, he made his construction business much bigger. He helped build many government buildings. He also had a good relationship with the Shah, who was the ruler of Iran at the time.

During the Iranian Revolution in 1979, the government changed. Mr. Nazarian's name was on a list of people who were in danger. He had to leave Iran and moved to the United States. He settled in Los Angeles, California.

By 1985, he co-founded a company called Omninet with Irwin M. Jacobs and Andrew Viterbi. At first, Omninet helped track trucks at construction sites. Later, Omninet joined with Qualcomm. Qualcomm became one of the biggest companies that makes computer chips for phones and other devices. Because Mr. Nazarian owned a lot of shares in the company, he became a billionaire.

Mr. Nazarian was a managing partner at Omninet Capital. This company invests in many different areas, like real estate and new businesses. He was also the chairman of Stadco, a company that makes special tools for the aerospace industry.

Helping Others: Philanthropy

Before 1979, Mr. Nazarian was a strong supporter of women's rights in Iran. After moving to the United States, he worked with Armand Hammer in the 1980s. They helped Jewish people from the Soviet Union move to Israel. He also helped start the Iranian American Jewish Federation in Los Angeles.

Mr. Nazarian founded the Magbit Foundation. This is a non-profit group that gives scholarships to university students in Israel. He also gave money to several universities in Israel, including Tel Aviv University, Ben-Gurion University, Technion – Israel Institute of Technology, and the Weizmann Institute of Science.

Tel Aviv University gave him an honorary doctorate degree. A building at the university is named "The Pouran and Izak Parviz Nazarian Building" to honor him and his wife. In 2013, he was recognized as one of four "philanthropic visionaries" by the American Friends of Tel Aviv University.

In 2003, Mr. Nazarian started the Citizens Empowerment Center in Israel (CECI). This group works to improve how elections are run in Israel. He even wrote an article in 2009 about why Israel needed to fix its election system.

Family Life

Izak Parviz Nazarian was married to Pouran Nazarian. They had a son and three daughters. They lived in Beverly Hills, California. His brother, Younes Nazarian, was also a successful businessman and philanthropist. Younes was also an early investor in Qualcomm.

Izak Parviz Nazarian passed away on August 23, 2017, in Los Angeles, California.