Billionaire Slim-Fast founder S. Daniel Abraham dead at 100
His death on June 29 was confirmed by American Friends of Bar-Ilan University, where he had served on the board, according to Bloomberg News.
Abraham, whose net worth was estimated at $2.4 billion by Forbes, made his fortune after introducing the powder-based diet product in 1977.
Advertisement
4 S. Daniel Abraham, the entrepreneur who turned a line of meal-replacement shakes into the weight-loss powerhouse Slim-Fast, has died. He was 100.
ASSOCIATED PRESS
SlimFast, mixed with low-fat milk, was marketed as a meal substitute and quickly gained popularity, thanks in part to endorsements from public figures like former New York City Mayor Ed Koch and Major League Baseball manager Tommy Lasorda.
'It's your life. Feed it right,' the company's slogan read. Another campaign promised, 'Give us a week, we'll take off the weight.'
The product line still exists today under the name SlimFast, though it has struggled in recent years amid the rise of pharmaceutical weight-loss drugs.
Advertisement
Abraham was also a significant political donor and philanthropist. He co-founded the S. Daniel Abraham Center for Middle East Peace in 1989 and was a major supporter of the Democratic Party.
A 2020 report by Americans for Tax Fairness and the Institute for Policy Studies ranked him as the 15th most active political donor among American billionaires, with nearly $22 million in contributions to federal candidates and political groups, almost entirely to Democrats.
Born on Aug. 15, 1924, in Long Beach, NY, Abraham served in the US Army during World War II.
Advertisement
4 Abraham became a billionaire thanks to the success of Slim-Fast meal-replacement shakes.
Adriana – stock.adobe.com
He began his business career in the 1940s by joining his father in selling over-the-counter remedies such as itch relievers and throat soothers. Together with his father, he acquired Thompson Medical Co., the maker of the anti-itch ointment San-Cura.
Abraham took the company public in 1979 and later took it private again in the late 1980s.
'I knew these products worked, and, just as important, I knew that these maladies were so common that they would generate repeat sales,' he wrote in his memoir.
Advertisement
4 Abraham was a prolific donor to the Democratic Party. He was also close to Bill and Hillary Clinton.
AP
Before Slim-Fast, Abraham had success with Dexatrim, an appetite suppressant that reached $50 million in sales in 1979.
The product later came under scrutiny when the FDA raised health concerns in 2000 about its key ingredient, phenylpropanolamine, which has been associated with increased risk of hemorrhagic stroke.
By that time, Dexatrim was owned by Chattem Inc., which changed the formula. NVE Pharmaceuticals acquired the product in 2014.
The concept behind Slim-Fast emerged from the 1970s trend favoring high-protein shakes over solid food. Abraham marketed it as a complete program whereby users would drink Slim-Fast for breakfast, lunch and a snack, and then eat a 'sensible' dinner, for a daily total of 1,500 calories.
4 Abraham also maintained high-level contacts in the Middle East. He is seen left with Palestinian leader Yasser Arafat.
AFP via Getty Images
In the 1990s, he expanded the Slim-Fast brand to include frozen entrees, snacks and other diet products. Sales grew approximately 20% annually, reaching $611 million in 1999 with $125 million in profit.
The brand's profile skyrocketed in 1989 when Dodgers players Orel Hershiser and Kirk Gibson challenged their manager, Tommy Lasorda, to lose weight for charity.
Advertisement
Abraham offered Lasorda $20,000 for his chosen charity just to meet and discuss using Slim-Fast. Lasorda took on the challenge with the high-fiber version, Ultra Slim-Fast, and lost more than 30 pounds in three months.
He became a television spokesman, famously declaring, 'If I can do it, you can do it.'
Sales tripled to $300 million almost overnight.
In 2000, Unilever acquired Slim-Fast Foods for $2.3 billion. However, under Unilever's ownership, US sales declined 40% between 2009 and 2013, according to SymphonyIRI Group.
Advertisement
In a 2013 Consumer Reports ranking, Slim-Fast placed last in overall satisfaction among do-it-yourself diet plans.
Abraham expressed frustration with the brand's decline, telling Bloomberg News in 2013: 'Unilever is sleeping on it. If I still owned it, it would not be that way. I would be fighting harder. It's a damn shame.'
At the time, Unilever stated that investments and 'exciting changes' were planned for the product.
Advertisement
Kainos Capital bought the brand from Unilever in 2014 for an undisclosed amount, with Unilever retaining a minority stake. In 2018, Kainos sold Slim-Fast to Ireland-based Glanbia Plc for $350 million. Glanbia put the brand up for sale again in February.
Abraham had four daughters with his first wife, Estanne, before their marriage ended in divorce. He later married Ewa, with whom he had a son and a daughter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
7 minutes ago
- The Hill
White House officials defend Trump's firing of BLS chief
White House officials on Sunday defended President Trump's decision to fire the head of the Bureau of Labor Statistics (BLS) following a weak jobs report, a move that has sparked broad criticism. 'The president wants his own people there so that when we see the numbers, they're more transparent and more reliable,' Kevin Hassett, chair of the National Economic Council, said on NBC's 'Meet the Press.' Hassett said in another interview on 'Fox News Sunday' that the BLS commissioner has a responsibility to explain major revisions such as the one seen in Friday's jobs report, which showed 258,000 fewer jobs for prior months than initially reported. 'The big downward revision is something of a puzzle. I don't think it was explained very well. And I think that markets might be as much unsettled by the fact that the data are so noisy,' Hassett said. U.S. Trade Representative Jamieson Greer, one of Trump's top tariff negotiators, said in an interview that aired on CBS's 'Face the Nation' Sunday that the president has 'real concerns' about the jobs numbers reported by the Labor Department. 'Even last year during the campaign, there were enormous swings in the jobs numbers, and so sounds to me like the president has real concerns. You know, not just based on today's, but everything we saw last year,' Greer said in the interview taped on Friday. 'You want to be able to have somewhat reliable numbers,' he added. 'There are always revisions, but sometimes you see these revisions go in really extreme ways. And it's, you know, the president is the president. He can choose who works in the executive branch.' Trump on Friday directed his team to fire BLS Commissioner Erika McEntarfer after the latest jobs report showed the country only adding 73,000 jobs in July, and major revisions for jobs added in May and June. The move prompted immediate outcry from Democrats and a handful of Republicans, with some calling for an investigation. McEntarfer was nominated by former President Biden and overwhelmingly confirmed by the GOP-led Senate early last year in an 86-8 vote. Trump's advisers underscored the president's concerns about revisions to the labor data while defending McEntarfer's firing. Hassett noted that jobs data reported by the government has seen major swings since the COVID-19 pandemic. 'What we've seen over the last few years is massive revisions to the jobs numbers. In fact, they were extremely reliable, the kind of numbers that you want to guide policy decisions and markets, through COVID. And then when COVID happened, because response rates went down a lot, then revision rates skyrocketed. So the typical monthly revision often was bigger than the number itself,' Hassett said on NBC. Trump, in axing the BLS chief, claimed without evidence that McEntarfer 'faked the Jobs Numbers' before the 2024 election in order to boost former Vice President Kamala Harris's White House bid, citing labor statistics revisions during the Biden administration that boosted job numbers ahead of the election. The president accused her of manipulating data to make him and Republicans look bad, writing on Truth Social on Friday, 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes.' McEntarfer reacted to Trump's firing of her in a social media post over the weekend, saying it was the 'honor of my life' to serve in the role and hailing the 'vital and important work' carried out by civil servants at the agency.
Yahoo
an hour ago
- Yahoo
'No obvious front-runner.' Why Harris' exit has scrambled the race for California governor
For the record:11:39 a.m. Aug. 3, 2025: An earlier version of this article said former U.S. Rep. Katie Porter raised $2.5 million, spent $449,000 since launching her campaign in March, and has $2.1 million in the bank. She raised $3 million, spent $1.2 million and had $2 million cash on hand as of June 30. For months, candidates in the race to become California's next governor had waited for a pivotal question to be settled: Will former Vice President Kamala Harris run or not? With Harris' announcement this week that she's out, a new question arose: Who's the front-runner now? Because of Harris' star power, the answer is far from simple. For months, other candidates saw their campaign planning and fundraising undercut by the possibility she would run, meaning the race got a big reset seconds after Harris made her announcement Wednesday. Some political observers give the nod to former U.S. Rep. Katie Porter, who appears to have a small leg up over her opponents. Read more: Kamala Harris says she is not running for California governor Porter was the only Democrat to receive double-digit support in multiple polls when Harris was not included in the field. A prodigious fundraiser while she was in Congress representing an Orange County district, Porter reported a strong infusion of cash in the months after launching her campaign in March, and said she raised $250,000 in the 36 hours after Harris' announcement. "The enthusiasm we're seeing from donors at every level shows that Californians know how critical this race is," Porter said in an email blast. Other candidates — including Xavier Becerra, U.S. Secretary of Health and Human Services in the Biden administration and a former California attorney general — have also tried to assert that, with Harris out, they are moving up. "BECERRA CAMPAIGN BUILDING MOMENTUM IN 'WIDE OPEN' RACE," read the subject line of an email sent Friday by the Becerra campaign, saying he is "well-positioned to unite a broad swath of voters around his plans to make health care and housing less expensive and more accessible." Outside observers, however, said that none of the candidates stand out from the pack at the moment. "That these remaining candidates are jockeying for bragging rights about who may be the front-runner — it's to be expected, but it's ludicrous," said Garry South, a veteran Democratic strategist who has worked on a number of past gubernatorial campaigns, including for former Gov. Gray Davis. "With Harris opting out, there will likely be no obvious front-runner among the remainder of the current field for quite some time," South said. "None of these candidates start out with statewide name recognition." With such a wide-open field, factors such as endorsements and communication strategies will be important to watch, experts said. So will the candidates' ability to raise money and use it to broaden their appeal. "I would start spending money on social media, on television advertising, on every single platform I could find to build up my name ID," South said, but "none of them have enough money to do that at the moment." Experience and endorsements With Harris out, will she back someone else? "Obviously if she did endorse, that would be a big plus" for whichever candidate she rallied behind, said John Pitney, a professor of politics at Claremont McKenna College. Harris has long relationships with several of the candidates in the race. A source familiar with her thinking told The Times after Harris bowed out that she was still considering whether and how to approach the governor's race. Read more: Who is running for California governor in 2026? Meet the candidates Other endorsements could affect the race as well. Hours after Harris announced her decision, Rep. Nancy Pelosi (D-San Francisco), the influential former House Speaker, appeared on CNN to endorse Lt. Gov. Eleni Kounalakis, whom she has known for years. "We have many great candidates, one in particular Eleni Tsakopoulos, whom I support," Pelosi said, referring to Kounalakis by her maiden name. Kounalakis' father, the wealthy developer Angelo Tsakopoulos, helped bankroll an independent expenditure committee supporting his daughter's 2018 campaign for lieutenant governor. Political observers are watching to see if he dumps money into a similar effort backing her gubernatorial campaign. Pitney said Pelosi's opinion "would carry a lot more weight" if she were still speaker. He said it "isn't necessarily going to sway a large chunk of the electorate," but could be important if it sways Bay Area donors. A former GOP legislative aide and national party staffer who renounced his membership in the Republican Party the night Trump was elected in 2016, Pitney said that endorsements are far from a determining factor in today's political landscape. "I hesitate to rule anybody out, because very often candidates seem to come out of nowhere — like Mamdani in New York City," he said, referring to the sudden rise and stunning upset primary win of 33-year-old democratic socialist Zohran Mamdani in the New York mayoral race. Pitney added that experience in government and administrative leadership also matters, but could also cut against candidates at a time when many voters are frustrated and want something new. For example, Antonio Villaraigosa, the former state Assembly speaker and L.A. mayor who is in his 70s, "obviously has a long history, but that long history is both an advantage and a disadvantage," Pitney said. Villaraigosa has said his campaign is "about the future." But voters "may not regard him as a fresh face," Pitney said. Name recognition and money None of the current candidates for governor have the same profile as Harris. In fact, they are broadly unknown to huge swaths of the electorate. That means they have their work cut out for them, Pitney and South said — namely in terms of fundraising. South said that there "is no question that the Democratic donor base has basically been sitting on their haunches waiting to see what Harris is going to do." But, he said, he hasn't seen any sign yet that donors have picked a favorite candidate now that she's out, either — which is a problem for candidates with little or no name recognition. "None of these candidates in the remaining field with Harris out have enough money in the bank to run a statewide campaign for governor," he said. South said that could change if Kounalakis gets another major infusion of cash from her father and once again taps her personal wealth. At the same time, there could also be a "huge blowback" from that sort of splashy family spending, South said, especially if Kounalakis' opponents pounced on it as distasteful. "We have not tended in this state to elect moneyed people who try to buy the governor's race," he said. South said he is watching to see if big Bay Area donors decide to back Porter "because of her profile as a progressive." Read more: Skelton: Katie Porter has a shot at being California's next governor, but there's a big hitch Los Angeles developer and 2022 mayoral candidate Rick Caruso "could be a force" if he were to enter the race, Pitney said, because "he has prominence in Southern California and also has a lot of money." Fundraising reports The most recent fundraising reports, which were due Thursday night, shine a light on candidates' coffers — but only through the end of June, well before Harris dropped out. The Democrats who do not have the potential to self-fund their campaigns reported having millions of dollars in cash on hand as of June 30, including some who transferred money from prior campaign committees to their gubernatorial accounts. Former legislative leader Toni Atkins reported having $4.3 million in the campaign, while raising $648,000 and spending $549,000 in the first six months of this year. Villaraigosa raised $1.1 million and spent $550,000 this year, but reported $3.3 million cash on hand based on fundraising he did last year. Becerra had $2.1 million in the bank after raising $2.5 million and spending $449,000 in the first six months of the year. Porter reported raising $3 million and spending $1.2 million since announcing she was running for governor in March. She said she had $2 million in the bank. Unlike the other candidates, Porter's campaign revealed her fundraising because her filing on the state disclosure website didn't show any dollar figures. Spokesman Nathan Click said her number of small-dollar donors crashed the state's system, and that they had been working with state officials to get the documents displayed on the secretary of state's website all day Friday. He said most of Porter's 34,000 donors contributed less than $200 each. Riverside County Sheriff Chad Bianco reported raising $1.6 million and spending $609,000 this year, leaving him with $1 million in the bank. A few candidates reported mediocre fundraising numbers, but have personal wealth they can draw on. Kounalakis raised just over $100,000 and spent nearly three times as much during the first half of this year. She has more than $4.6 million on hand and millions more in her lieutenant governor campaign account, although some of that money can't be transferred because of campaign finance rules. Businessman Stephen J. Cloobeck, a Los Angeles Democrat, raised about $160,000 and spent $1.5 million — including more than $1 million on consultants. He had about $729,000 on hand at the end of the period. He also said he made a $10-million contribution Friday that he said "turbocharged" his campaign. "One of my many advantages is that I'm not a politician and I am not compromised," Cloobeck said. Former Fox News host Steve Hilton, a Republican candidate, raised about $1.5 million, of which $200,000 was a personal loan. Hilton spent about $1 million and has a little less than $800,000 in the bank. Read more: Run for president? Start a podcast? Tackle AI? Kamala Harris' options are wide open At the lowest end of the fundraising were former state controller Betty Yee, who raised almost $238,000 and spent $255,000, with $637,000 on hand; and state schools Supt. Tony Thurmond, who raised about $70,000, spent about $180,000 and had almost $560,000 on hand. Both Yee and Thurmond told The Times last month that fundraising had slowed while Democratic donors waited on Harris to make a decision. Get the L.A. Times Politics newsletter. Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond, in your inbox twice per week. This story originally appeared in Los Angeles Times. Solve the daily Crossword
Newsweek
an hour ago
- Newsweek
Boeing Strike Begins Monday After Negotiations Fail
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. More than 3,200 Boeing defense workers are set to begin striking Monday, August 4, after overwhelmingly rejecting a contract proposal that included a 20 percent wage increase over four years. Newsweek reached out to International Association of Machinists and Aerospace Workers (IAM) District 837 via email on Sunday for comment. Why It Matters This latest action represents the first strike in nearly three decades at Boeing's St. Louis-area defense factories, with the union's last work stoppage occurring in 1996 and lasting 99 days, according to Bloomberg. The strike also adds to Boeing's mounting challenges amid ongoing safety concerns and production issues that have severely damaged the company's reputation. Transportation Secretary Sean Duffy stated in March that Boeing had lost the trust of the American people following a mid-air panel blowout on an Alaska Airlines 737 MAX 9, two fatal crashes in 2018 and 2019 that killed 346 people, and a recent Boeing 787 Dreamliner crash in India that killed 260 people. The work stoppage will directly impact production of the F-47 fighter jet, part of the Next Generation Air Dominance program designed to replace the F-22 Raptor. Boeing won this critical contract earlier this year, with the company expanding its St. Louis manufacturing facilities to accommodate the sixth-generation fighter program. What To Know Members of the IAM District 837 voted down Boeing's offer on Sunday, August 3, following the expiration of their current contract at 11:59 p.m. CT, according to a press release from the union. This latest vote follows members' rejection of Boeing's earlier proposal on Sunday, July 27. The impending walkout will affect three facilities in St. Louis, St. Charles, Missouri, and Mascoutah, Illinois, where workers assemble critical military aircraft, including F-15 fighters, F/A-18 Super Hornets, and components for the advanced F-47 fighter jet program. Despite union leaders initially recommending approval of what they called a "landmark" agreement, District 837 members rejected Boeing's offer. The proposal included the 20 percent wage increase, improved medical benefits, enhanced pension provisions, and better overtime benefits. Boeing characterized this as "the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities." The Boeing Air Dominance division produces several military aircraft, including the U.S. Navy's Super Hornet and the Air Force's Red Hawk training aircraft. A strike late last year by machinists' union members put a heavy toll on the company, compounding existing production issues and stalling manufacturing of key aircraft including the 737 MAX, 767, and 777 models. The union implemented a seven-day "cooling off" period following the contract's expiration, delaying strike action until August 4. This procedural step is standard in labor negotiations to provide additional time for potential last-minute agreements. What People Are Saying Boeing Air Dominance Vice President Dan Gillian said in a statement: "We're disappointed that Boeing employees voted down the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities. We've activated our contingency plan and are focused on preparing for a strike. No talks are scheduled with the union." IAM District 837 Directing Business Representative Tom Boelling said in a statement: "IAM District 837 members have spoken loud and clear, they deserve a contract that reflects their skill, dedication, and the critical role they play in our nation's defense." IAM International President Brian Bryant said in a statement: "Our union is built on democracy, and our members have every right to demand a contract worthy of their contributions. We will be there on the picket lines, ensuring Boeing hears the collective power of working people." IAM Resident General Vice President Jody Bennett said in a statement: "Solidarity is our strength. This vote shows that when workers stand together, they can push back against corporate greed and fight for a better future for themselves and their families. We are proud to back our members every step of the way." IAM Midwest Territory General Vice President Sam Cicinelli said in a statement: "IAM District 837 members build the aircraft and defense systems that keep our country safe. They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise." Pro-union stickers are pictured on a pole outside the Boeing Renton Production Facility one day before striking union members will vote on a new contract offer in Renton, Washington on November 3, 2024. Pro-union stickers are pictured on a pole outside the Boeing Renton Production Facility one day before striking union members will vote on a new contract offer in Renton, Washington on November 3, 2024. JASON REDMOND/AFP via Getty Images What Happens Next? Boeing has activated contingency plans and stated no additional talks are scheduled with the union. The company faces pressure to resolve the dispute quickly to avoid delays in critical defense programs, particularly the F-47 production timeline. The duration of the strike will likely depend on whether Boeing offers additional concessions beyond the substantial wage and benefit improvements already proposed.
