Early Life
Haim Saban was born in Alexandria, Egypt, on October 15, 1944, to an Egyptian-Jewish family. In 1956, his family immigrated to Israel. During his youth, he attended a Youth Aliyah boarding school but was later expelled. He then enrolled in a night school, where his principal recognized his potential for business acumen, telling him he was “cut out for making money”. He also served in the Israel Defense Forces.
Rise to Success
Saban's career began in the music industry. In 1966, he started as a bass player and manager for the rock band The Lions of Judah. In the early 1970s, he moved to France, where he worked as a music producer and launched a record company. He transitioned to television production in the United States, founding Saban Entertainment in 1988. Along with his partner Shuki Levy, they became known for composing music for children's television programs. Saban gained significant success with the "Mighty Morphin Power Rangers" in the early 1990s, turning it into a global phenomenon.
Key Business Strategies
Saban has demonstrated astute business strategies throughout his career. In 1996, Saban merged with Fox Children's Network to form Fox Kids Worldwide, a joint venture with News Corp. In 2001, he and News Corp. sold Fox Family Worldwide to The Walt Disney Company for $5.3 billion. Saban's investment company, Saban Capital Group, purchased Univision Communications for $13.7 billion in 2007. He also repurchased the Power Rangers franchise in 2010 and sold it again to Hasbro in 2018 for $522 million. In 2019, Saban launched the Saban Music Group.
Philanthropy
Saban and his wife, Cheryl, established the Saban Family Foundation in 1999, supporting medical, children's, and education programs across the U.S. and Israel. The Saban family has contributed approximately $500 million to charitable causes. The Sabans are known for their philanthropic activities, with the Hollywood Reporter recognizing them as Philanthropists of the Year in 2019.