Billionaire Profile
Donald Friese
Global Rank
#2792

Image: Public domain | via Wikimedia Commons

Donald Friese

CEO, C.R. Laurence Co., Inc.
US
Real-Time Net Worth
$1.18B
As of December 2025
Age
85
Source
Manufacturing
Industry
manufacturing
Citizenship
US

Biography

Donald Friese, born in 1940, is an American billionaire businessman renowned for his significant impact on the manufacturing industry. Friese's career began in 1961 as a warehouse worker at C.R. Laurence, where he rose through the ranks to become the sole owner. His entrepreneurial drive led him to expand the company into the largest supplier in the glass industry. In 2015, Friese sold C.R. Laurence for $1.3 billion. He is known for his philanthropy, supporting various organizations through the Friese Foundation. As of 2024, his net worth is estimated at $1.18 billion.

Wealth Over Time

In-Depth Profile

Early Life

Donald Friese was born on October 3, 1940, in York, Pennsylvania. He was the third of thirteen siblings. Growing up in humble beginnings, Friese's early life instilled in him a strong work ethic.

Rise to Success

After serving three years in the U.S. Army as a missile mechanic, Friese moved to Los Angeles with $125 in his pocket in 1961. He began his career at C.R. Laurence Co. as a warehouse worker. Friese gradually acquired equity in the company, eventually becoming its sole owner in 1997. Under his leadership, C.R. Laurence grew to become the largest supplier to the glazing industry in the U.S., with over 65,000 products and 40 locations. Friese expanded the business by acquiring competitors and establishing manufacturing operations.

Key Business Strategies

Friese's business acumen was instrumental in the success of C.R. Laurence. He focused on expanding the company's product line, acquiring competitors, and building a strong reputation within the glass and glazing industry. He also invested in his employees, fostering a culture of recognition and reward.

Philanthropy

In 2015, Friese sold C.R. Laurence. A remarkable aspect of this sale was that Friese shared $86 million of the proceeds with C.R. Laurence employees. Friese and his family give generously to the community through their Friese Foundation, assisting organizations such as the Salvation Army and the American Red Cross. The Friese Family Foundation gave $50 million for a new hospital tower at Providence Cedars-Sinai Medical Center in Tarzana in 2021.

Career Milestones

1958

Joined the U.S. Army

Served three years as a missile mechanic.

1961

Joined C.R. Laurence

Began as a warehouse worker, the sixth employee of the company.

1997

Became Sole Owner of C.R. Laurence

Purchased the remaining 50% of the company.

2015

Sold C.R. Laurence

Sold the company to Oldcastle BuildingEnvelope for $1.3 billion.

2015

Employee Bonuses

Distributed $86 million to employees.

2021

Donated $50 Million

Donated $50 million to Providence Cedars-Sinai Medical Center in Tarzana.

2024

Returns to Glass and Glazing Sector

Serves as a strategic advisor for the Frameless Hardware Company.

Philanthropy & Social Impact

Healthcare

Providence Cedars-Sinai Tarzana Medical Center

$50M

Donation to support the expansion and renovation.

Multiple

Various Organizations

Unknown

Supports 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 National Glass Association.

Business Philosophy & Leadership

Notable Quotes

"You know the saying, 'Some people are born with a silver spoon'? I didn't even have a spoon."

"I didn't have any choice in the way I came in, but I sure as hell have a choice about which way I'm going to go out."

"It's the employees who have made the company the powerhouse that it is and they deserve the recognition and the reward"

Leadership Principles

Employee Recognition

Recognizing and rewarding employees for their contributions to the company's success.

Strategic Expansion

Growing the business through acquisitions and launching manufacturing operations.

Community Involvement

Supporting the local community through philanthropy.