{{short description|Lebanese entrepreneur|bot=PearBOT 5}} {{Infobox person | name = Michel Daher | native_name = <small>ميشال ضاهر</small> | native_name_lang = ar | image = Michel-Daher-Photo.jpg | caption = | birth_name = Michel Georges Daher | birth_date = {{birth date and age text|7 March 1961}} | political_party = [[Independent politician|Independent]]<br>(affiliated with the [[Lebanese Forces]]) | spouse = Marleine Sayde | children = Georges, Mark, Edwina, Perla | birth_place = [[Ferzol]], [[Lebanon]] | known_for = [[Daher Foods]], [[Daher Capital]], [[Parliament of Lebanon]] | occupation = Chairman and CEO }}
'''Michel Georges Daher''' ({{langx|ar|ميشال ضاهر}}; born 7 March 1961) is a [[Lebanon|Lebanese]] [[entrepreneur]], investor, philanthropist and politician who is the founder of [[Daher Capital]] and [[Daher Foods]].<ref>{{Cite web |last=Demos |first=Telis |date=2012-06-11 |title=Liquidnet investors help secure start-up |url=https://www.ft.com/content/83f196cc-b3e5-11e1-a3db-00144feabdc0 |url-access=subscription |access-date=2020-07-13 |website=[[Financial Times]]}}</ref> As of May 2022, the latest official lebanease elections, he was elected as a Member of Parliament in [[Lebanon]] for the Zahle district.<ref name=":0">{{Cite web|date=2018-05-09|title=Breakdown of Lebanon's new parliament - Georgi Azar|url=https://en.annahar.com/article/801537-breakdown-of-lebanons-upcoming-parliament|access-date=2020-07-13|website=An-Nahar}}</ref>
== Early life == Daher grew up in [[Ferzol]], [[Lebanon]], where his father was a farmer. He is the eldest of six brothers and sisters. Michel married Marleine Sayde in 1986 and together they have four children, George, Mark, Edwina and Perla.
== Daher Foods == Michel Daher founded Daher Foods in 1992, one of the largest [[Fast-moving consumer goods|Fast-Moving Consumer Goods]] (FMCG) companies in the Middle East and North Africa (MENA) region. Daher Foods operates one of the largest salty snacks operations in the Middle East.<ref>{{Cite web|title=Master Chips factory to open this January|url=http://www.businessnews.com.lb/cms/Story/StoryDetails/5192/Master-Chips-factory-to-open-this-January|access-date=2020-07-13|website=BusinessNews.com.lb|language=en-US}}</ref>
In 2016, Daher Foods started producing packaged nuts and kernels in a brand new production facility.<ref>{{Cite web|title=Nuts and kernels factory by Daher Foods|url=http://www.businessnews.com.lb/cms/Story/StoryDetails/5830/Nuts-and-kernels-factory-by-Daher-Foods|access-date=2020-07-13|website=BusinessNews.com.lb|language=en-US}}</ref>
In 2019, Daher Foods added biscuits and wafers to its portfolio of products in a brand new production facility.<ref>{{Cite web|title=Daher Food group|url=https://berytech.org/profiles/daher-food-group/|access-date=2020-07-13|website=Berytech|language=en-US}}</ref>
== Daher Capital == Daher founded Daher Capital, a privately owned family investment office. Daher Capital invests in developed public market equities, [[emerging market]]s equities, private equity and venture capital.
Some of Daher Capital's publicly known investments include [[FXCM]], where in 2007, Daher Capital joined forces with Lehman Brothers and [[Yale University]] to purchase a 35% stake.<ref>{{Cite web|date=2010-12-03|title=Michel Daher sonne la cloche d'ouverture de la Bourse de New York - B.B.|url=https://www.lecommercedulevant.com/article/17705-michel-daher-sonne-la-cloche-douverture-de-la-bourse-de-new-york|access-date=2020-07-13|website=Commerce du Levant|language=fr}}</ref> FXCM went public on the [[New York Stock Exchange|NYSE]] in December 2010 with a [[market capitalization]] of $1.6 billion,<ref>{{Cite web|date=2010-12-04|title=FXCM's IPO Raises $211 Million at Midpoint of Range - BusinessWeek|url=http://www.businessweek.com/news/2010-12-01/fxcm-s-ipo-raises-211-million-at-midpoint-of-range.html|access-date=2020-07-13|archive-url=https://web.archive.org/web/20101204111915/http://www.businessweek.com/news/2010-12-01/fxcm-s-ipo-raises-211-million-at-midpoint-of-range.html|archive-date=2010-12-04}}</ref> a process in which Daher had an active role in.<ref>{{Cite web|date=2013-02-10|title=Lebanese industrialist and businessman Michel Daher given the honor o…|url=http://www.zawya.com/story/ZAWYA20101203133646/|access-date=2020-07-13|website=archive.is|archive-date=2013-02-10|archive-url=https://archive.today/20130210001538/http://www.zawya.com/story/ZAWYA20101203133646/|url-status=live}}</ref> In 2013, Daher sold his FXCM stake and invested in rival Gain Capital.<ref>{{cite web|date=January 30, 2014|title=Gain Capital sees Lebanese businessman Michel Daher begin to cash out of his GCAP position|url=http://leaprate.com/2014/01/gain-capital-sees-lebanese-businessman-michel-daher-begin-to-cash-out-of-his-gcap-position/|archive-url=https://web.archive.org/web/20141111073033/http://leaprate.com/2014/01/gain-capital-sees-lebanese-businessman-michel-daher-begin-to-cash-out-of-his-gcap-position/|archive-date=2014-11-11|access-date=6 February 2020|publisher=LeapRate.com}}</ref>
In 2013, Daher purchased a large stake in the largest poultry producer in the US,<ref>{{cite web|last=Bunge|first=Jacob|date=2015-04-20|title=Pilgrim's Expects 25% of Its Chicken Will Be Antibiotic-Free by 2019|url=https://www.wsj.com/articles/pilgrims-expects-25-of-its-chicken-will-be-antibiotic-free-by-2019-1429564675|accessdate=2016-09-25|publisher=WSJ}}</ref> [[Pilgrim's Pride]] and became the company's second largest shareholder.<ref>{{cite web|title=PILGRIMS PRIDE CORP : Filed by MASTER GLOBAL ASSETS LTD : FORM SC 13G (Statement of Ownership)|url=http://files.shareholder.com/downloads/AMDA-YDB9Z/0x0xS1387131-13-140/802481/filing.pdf|url-status=dead|archive-url=https://web.archive.org/web/20160304001422/http://files.shareholder.com/downloads/AMDA-YDB9Z/0x0xS1387131-13-140/802481/filing.pdf|archive-date=2016-03-04|accessdate=2016-09-25|website=Files.shareholder.com}}</ref> In 2013, Pilgrim's Pride had revenues of $9.0 billion.<ref>{{cite web|date=|title=Revenue, EPS, & Dividend - Pilgrim's Pride Corporation (PPC)|url=http://www.nasdaq.com/symbol/ppc/revenue-eps|accessdate=2016-09-25|website=NASDAQ.com}}</ref>
Daher Capital is also known to be a very active Venture Capital investor. In 2017, Daher Capital was recognized as "one of the biggest supporters of Los Angeles tech companies behind the scenes" by the LA Times.<ref>{{Cite web|last= |first= |date=2017-09-06|title=How a potato chip entrepreneur in Lebanon became a big supporter of L.A. tech start-ups|url=https://www.latimes.com/business/technology/la-fi-tn-daher-capital-20170906-htmlstory.html|access-date=2020-07-13|website=Los Angeles Times|language=en-US}}</ref>
Some of Daher Capital's known VC investments include Maker Studios prior to its sale to Disney for $1 billion,<ref>{{cite web|date=2013-09-12|title=Maker Studios Raises Another $26 Million From Canal+, Singtel, And Others To Grow Its Business Overseas|url=https://techcrunch.com/2013/09/12/maker-studios-26m/|accessdate=2016-09-25|publisher=[[TechCrunch]]}}</ref><ref>{{cite web|date=2014-12-17|title=Deal of the Year: Disney's Nearly $1B Acquisition of Maker Studios|url=http://www.hollywoodreporter.com/news/deal-year-disneys-1b-acquisition-758424|accessdate=2016-09-25|work=[[The Hollywood Reporter]]}}</ref> in Bonds.com prior to its sale to the [[London Stock Exchange]],<ref>{{cite web|last=Burne|first=Katy|date=2014-03-06|title=London Stock Exchange's MTS to Buy Bonds.com|url=https://www.wsj.com/articles/SB10001424052702303824204579423473589228740|accessdate=2016-09-25|publisher=WSJ}}</ref><ref>{{cite web|date=|title=Michel Daher Makes Strategic Investment in Bonds.com|url=http://www.prnewswire.com/news-releases/michel-daher-makes-strategic-investment-in-bondscom-135501133.html|accessdate=2016-09-25|website=Prnewswire.com}}</ref> and Burstly, developer of TestFlight, prior to its sale to Apple.<ref>{{cite web|date=|title=Apple Acquires Burstly, A Daher Capital Company|url=http://blogbaladi.com/apple-acquires-burstly-a-daher-capital-company/|accessdate=2016-09-25|publisher=Blog Baladi}}</ref> In April 2019, Daher Capital worked with BridgePoint Advisers to acquire Kyriba in a deal valuing the company at $1.2 billion.<ref>{{Cite web|title=Kyriba Closes $160 Million Growth Round Led by Bridgepoint to Fuel Enterprise Platform Innovation and Global Expansion|url=https://www.kyriba.com/company/newsroom/kyriba-closes-160-million-growth-round-led-by-bridgepoint-to-fuel-enterprise-platform-innovation-and-global-expansion/|access-date=2020-07-13|website=Kyriba|language=en-US}}</ref>
Other companies that Daher invested in that went public include [[TrueCar]]<ref>{{cite web|title=Our Team|url=http://www.truecar.com/our_team.html|archive-url=https://web.archive.org/web/20121129111229/http://www.truecar.com/our_team.html|archive-date=2012-11-29|access-date=7 February 2020|publisher=TRUECar}}</ref><ref>{{cite web|author=|date=2014-05-16|title=TrueCar raises $70 million in initial public offering|url=http://fortune.com/2014/05/16/truecar-raises-70-million-in-initial-public-offering/|accessdate=2016-09-25|website=Fortune.com}}</ref> and [[Stonegate Mortgage]].<ref>{{cite web|date=October 10, 2013|title=Stonegate Mortgage IPO raises $180M|url=http://www.bizjournals.com/kansascity/news/2013/10/10/stonegate-mortgage-ipo-raises-180.html|archive-url=https://web.archive.org/web/20131013162321/http://www.bizjournals.com/kansascity/news/2013/10/10/stonegate-mortgage-ipo-raises-180.html|archive-date=2013-10-13|access-date=7 February 2020|publisher=Kansas City Business Journal}}</ref>
== Political career == Michel Daher expressed concerns on Lebanon's economic model as early as 2012 saying "unless the government embarks on painful austerity measures, Lebanon’s economy will inch closer to the edge of a disaster" in a DailyStar interview at the time.<ref>{{Cite web|title=Daher: Keeping faith in the country's future- interview |url=https://www.dailystar.com.lb/Business/Lebanon/2012/Oct-24/192498-daher-keeping-faith-in-the-countrys-future-interview.ashx|access-date=2020-07-13|website=www.dailystar.com.lb}}</ref>
In 2018, Michel Daher ran for parliament on an economic reform agenda looking to decrease Lebanon's reliance on diaspora remittances and increase the country's productivity,<ref>{{Cite web|last=Agency|first=National News|title=Daher: To turn our economy into a productive sector|url=http://nna-leb.gov.lb/en/show-news/115050/|access-date=2020-07-13|website=National News Agency|language=en}}</ref> believing the current model was not sustainable.<ref>{{Cite web|date=2019-10-07|title=Rethinking the role of remittances inflows in the Lebanese Economy|url=https://beirut-today.com/2019/10/07/rethinking-remittances-inflows-lebanese-economy/|access-date=2020-07-13|website=Beirut Today|language=en-US}}</ref>
In May 2018, Michel Daher was elected as an independent to Lebanon's parliament in the [[Zahlé District|Zahle]] district, one of Lebanon's most contested and competitive areas in parliamentary elections. Daher ran against political dynasties and won by a wide margin.<ref name=":0" /> Upon his election, Daher vowed to transfer all salaries and benefits from the state that come during his tenure to the [[Lebanese Armed Forces|Lebanese Army]].<ref>{{Cite web|title=Newly Elected MP Michel Daher Vows To Transfer Salary/ Benefits to the Lebanese Army|url=https://blogbaladi.com/newly-elected-mp-michel-daher-vows-to-transfer-salary-benefits-to-the-lebanese-army/|access-date=2020-07-13|website=Blog Baladi}}</ref>
Daher's political positions have revolved around Lebanon's economy, warning against an impending economic collapse if the political establishment did not effect reforms. Lebanon's economy collapsed in October 2019 due to its heavy debt, corruption, reliance on remittances and the banking sector, and lack of productivity.<ref>{{Cite news|last=Hubbard|first=Ben|date=2020-05-10|title=Lebanon's Economic Crisis Explodes, Threatening Decades of Prosperity|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/05/10/world/middleeast/lebanon-economic-crisis.html|access-date=2020-07-13|issn=0362-4331}}</ref>
To mitigate the full effects of the economic collapse, in November 2019 Daher submitted a Capital Control law to parliament as well as the abolishing of Banking Secrecy laws in order to return stolen public funds, both of which were rejected by the existing political establishment.<ref>{{Cite web|last=Agency|first=National News|title=Daher: For an in-depth discussion of the Capital Control Law in Parliament|url=http://nna-leb.gov.lb/en/show-news/115777/|access-date=2020-07-13|website=National News Agency|language=en}}</ref>
Daher also serves as a board member of the Association of Lebanese Industrialists (ALI)<ref>{{cite web|title=Board of Directors|url=http://www.ali.org.lb/new/board.as|archive-url=https://web.archive.org/web/20100511213633/http://www.ali.org.lb/new/board.asp|archive-date=2010-05-11|access-date=7 February 2020|publisher=Association of lebanese Industrialists}}</ref> and was on the Executive Committee of Higher Council for Greek Catholics in Lebanon up until September 2024 when he resigned.<ref>{{Cite web |date=2024-09-12 |title=Michel Daher Resigns from the Executive Committee of the Higher Council of Greek Catholics |url=https://waradana.com/english/article/103499-michel-daher-resigns-from-the-executive-committee-of-the-higher-council-of-greek |access-date=2025-05-20 |website=Waradana |language=en}}</ref>
==References== {{Reflist}}
==External links== * [http://www.dahercapital.com Daher Capital] * [http://www.daherfoods.com Daher Foods] * [https://www.youtube.com/watch?v=Xj_He3eQaZM Interview with Michel Daher] * [http://www.lecommercedulevant.com/node/17705 Michel Daher sonne la cloche d’ouverture de la Bourse de New York (French)]
{{DEFAULTSORT:Daher, Michel}} [[Category:Lebanese businesspeople]] [[Category:1961 births]] [[Category:Living people]] [[Category:People from Zahlé District]]