BillionaireNet
Friese
Donald Friese
Rank #2809
UNITED STATESManufacturingManufacturing

Donald Friese

Net Worth
$1.223B
0% (24h)
Donald Friese, born in 1940, is an 85-year-old American entrepreneur. His journey is a quintessential rags-to-riches story, having risen from humble beginnings to become a billionaire. His source of wealth stems from the Manufacturing industry, specifically his work with C.R. Laurence Co., Inc. Friese's career began with an entry-level warehouse job at C.R. Laurence. Through dedication and entrepreneurial spirit, he acquired the company, growing it into a leading manufacturer in the glass industry. In 2015, Friese sold C.R. Laurence to CRH plc for $1.3 billion. He is married to Andrea and they have three children. Friese's achievements have solidified his legacy as a successful business leader in the manufacturing sector.

The Full Dossier

Early Life

Donald Friese's life began in 1940 in York, Pennsylvania, where he was born as the third of 13 siblings. Growing up in poverty, he faced significant challenges early in life. At the age of 5, he and one of his brothers were taken to an orphanage. At age 12, he began working on a dairy farm to provide for himself. These early experiences instilled a strong work ethic and a drive to overcome adversity.

Rise to Success

After graduating from high school, Friese joined the U.S. Army in 1958. After his service, he moved to Los Angeles with only $125 in his pocket to find a job. He joined C.R. Laurence in 1961 as the sixth employee, starting in a warehouse position. Recognizing the opportunities for growth, Friese worked hard and gained experience. He eventually acquired equity in the company, and by 1997, he became the sole owner.

Key Business Strategies

Under Friese's leadership, C.R. Laurence experienced remarkable growth. He expanded the business by acquiring competitors and establishing a manufacturing operation. By 2015, the company had become a prominent manufacturer of over 65,000 products for the glass industry. In 2015, he sold C.R. Laurence to CRH plc for $1.3 billion in cash.

Philanthropy

During his retirement, Friese and his son established the Friese Foundation, a nonprofit organization dedicated to philanthropy. The foundation supports a range of organizations, including the American Red Cross, USO, National Veterans Foundation, the Salvation Army, Los Angeles Regional Food Bank, Rancho San Antonio Boys Home, Sheldrick Wildlife Trust, St. Jude Children's Hospital, and the National Glass Association.

Career Timeline

2024

Returned to the Glass Industry

Returned to the industry and is serving as a strategic advisor to Frameless Hardware Company.

2018

Retired

Retired from the company and focused on philanthropic endeavors.

2015

Sold C.R. Laurence

Sold C.R. Laurence to CRH plc for $1.3 billion.

1997

Became Sole Owner of C.R. Laurence

Bought the remaining equity in C.R. Laurence.

1961

Joined C.R. Laurence

Began working at C.R. Laurence as a warehouse worker.

1958

Joined the U.S. Army

Trained as a missile mechanic and served for three years.

Philanthropic Impact

Healthcare$50M

Friese Family Foundation

Donated to Providence Cedars-Sinai Tarzana Medical Center in 2021

VariousUnknown

Various Charities

Supports organizations such as the American Red Cross, USO, and Salvation Army.

Wealth Trajectory