Donald Friese
Los Angeles, California
United States
10
manufacturing, Self Made
$1,200,000,000
1818
#1818 Billionaires 2019
Donald Friese's fortune stems from C.R. Laurence, which manufactures or distributes more than 65,000 products for the glass industry.In 2015 he sold C.R. Laurence to a big customer, Oldcastle BuildingEnvelope, a subsidiary of Irish conglomerate CRH, for $1.3 billion in cash. Friese grew up a poor orphan in rural Pennsylvania, going to work on a dairy farm at age 12 before enlisting in the Army after high school.After a three-year tour, he moved to California with just $125 and landed in the warehouse of C.R. Laurence, then a small distributor of supplies.He climbed the ladder, amassing equity in the company until he owned 100%, and expanded by purchasing competitors and moving into manufacturing.
When Friese sold C.R. Laurence, he gave his employees $85 million. All 1,600 longtime workers got a bonus check -- some for more than $1 million.Despite cashing out, Friese continues to run the company's day-to-day operations. He works 12 hour days during the week, plus a half-day every Saturday.
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