Neil Kadisha

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Neil Kadisha
Born 1955
Tehran, Iran
Residence Beverly Hills, California, U.S.
Nationality Iranian
American
British
Ethnicity Persian Jewish
Alma mater University of Manchester
Occupation CEO of Omninet Capital
Net worth IncreaseUS $1.76 billion (2015)
Religion Judaism
Spouse(s) Dora Nazarian
Children Dina Kadisha Aspen
Leora Kadisha
Liana Kadisha
Family Izak Parviz Nazarian (father-in-law)

Neil Kadisha (born 1955) is a businessman and philanthropist. Kadisha is a member of the billionaire Nazarian family.

Biography[edit]

Kadisha holds a BS in Industrial Management and Economics from the University of Manchester.[1][dead link]

After school, Kadisha purchased a major share in Stadco (founded 1941), a high precision aerospace tooling and aircraft component manufacturer, where he has served as the company's president and chief executive officer since the late 1970s.[2] In 1981, Kadisha co-founded GNC Industries Inc. which, with additional capital from his father-in-law, Izak Parviz Nazarian, and his brother, Younes Nazarian, then purchased Stadco.[2] In 1996, Stadco bought HPM Corporation of Mount Gilead, Ohio, a 120-year-old company that makes injection molding presses, extrusion systems and die-casting machines; and in 1997, Stadco purchased German injection press maker, Hemscheidt Maschinentechnik Schwerin GmbH & Co.[2]

In 1984,[3] along with his father-in-law, Izak Parviz Nazarian and uncle-in-law Younes Nazarian[4] Kadisha co-founded the satellite communications company Omninet Corp, and tasked the newly founded company Qualcomm to develop a two-way mobile digital satellite communications system for the trucking industry called OmniTRACS. Kadisha served as Chief Executive Officer. Omninet subsequently joined forces with Qualcomm in 1988. Kadisha served on the board of directors of Qualcomm for 14 years, from 1988 to 2002.

Kadisha co-founded Omninet Capital, LLC and is currently a Managing Partner. Over the last 20 years, Omninet, a diversified investment firm with focuses in the fields of wireless communication, private equity and real estate, has developed projects in Los Angeles, San Diego, Phoenix, and Las Vegas. Most recently, he completed construction of a $350 million 45 floor high-rise luxury condominium, named Sky Las Vegas on Las Vegas Boulevard.

In 2001, Kadisha ranked #374 on the Forbes 400 Richest in America List. His net worth was listed around $700 mil. In 2007, Kadisha was estimated to be worth $910 million.[5] According to several reports published in 2008, Kadisha has been noted to have a net worth close to $1.0 billion.[citation needed] In May 19, 2008's edition of Los Angeles Business Journal, Neil Kadisha ranked #43 of Los Angeles's wealthiest residents.

He is an executive producer of The Accidental Husband (2008), a romantic comedy film, directed by Griffin Dunne, starring Uma Thurman, Jeffrey Dean Morgan, Colin Firth, Isabella Rossellini, and Sam Shepard. It was released in the UK on 29 February 2008.

Lawsuit[edit]

Kadisha was required to pay $100 million to Dafna Uzyel, a recently widowed family friend who he had acted as trustee for. The court ruled that since 1988 Kadisha had taken $6.2 million of trust money to replenish his Union Bank credit line, buy real estate, and acquire Qualcomm stock.[5] Kadisha contended that the funds he took from the family's trusts were legitimate loans and paid in full with interest[5] and noted that Uzyel's portfolio actually increased by $20 million under his stewardship.[5]

Community organizations[edit]

Neil Kadisha serves on the Board of Directors of several non-profit charitable organizations, which focus on the future of the community, youth development and the care of the elderly.[citation needed]

He has been honored and recognized by several charitable organizations including:

References[edit]

  1. ^ http://www.forbes.com/profile/neil-kadisha
  2. ^ a b c Plastic News: "PARENT STADCO SHIFTS HPM INTO HIGH GEAR" by BILL BREGAR July 14, 1997
  3. ^ Mock, DavidThe Qualcomm Equation: How a Fledgling Telecom Company Forged a New Path to Big Profits and Market Dominance Feb 28, 2005
  4. ^ Jewish Journal: "Iranian Jews struggle with segregation, presumption and assimilation -- how the stranger became the Angeleno" by Tom Tugend February 22, 2007
  5. ^ a b c d Los Angeles Times: "He built a fortune on a widow's funds - the venture capitalist is ordered to pay her and her family $100 million." by Kim Christensen January 27, 2007

External links[edit]