| Donald Friese | |
|---|---|
 Friese in 2020 | |
| Born | 1940 York, Pennsylvania, U.S. |
| Occupation(s) | CEO of C.R. Laurence Co., Inc. |
| Title | Founder and CEO of C.R. Laurence Co., Inc. |
| Spouse | Andrea Friese |
| Children | 3 |
| Website | www |
Donald Friese (born 1940) is an American billionaire businessman, and the chief executive (CEO) and former owner of C.R. Laurence Co., Inc., a glazing supplies company.
Early life
Donald Friese was born in 1940 in York, Pennsylvania, the third of 13 siblings. After his high school graduation, he joined the U.S. Army in 1958, trained as a missile mechanic, and was stationed in Taiwan and Okinawa. He served in the army for 3 years before moving to Los Angeles with $125 in his pocket to find a job.
Career
Friese started at C.R. Laurence in Los Angeles, which then had just one location, with an "entry-level job", as its sixth employee. A few years later, Bernie Harris, the owner, sold him a 10% stake, and he gradually acquired more, eventually buying Harris out when he retired. When Harris retired in 1997, Friese bought the 50% he did not already own. He expanded the business by acquiring competitors and launching a manufacturing operation. By 2015, the company manufactured more than 65,000 products for the glass industry. In 2015, Friese sold the company to the Irish conglomerate CRH plc for $1.3 billion cash, retaining most of the real estate and continuing as CEO. It was reported that Friese made $885 million from the sale of the company.
Personal life
Friese and his wife Andrea live in Chatsworth, Los Angeles. They have three children.
References
- ^ "Donald Friese". forbes.com. Retrieved October 29, 2017.
- ^ "This billionaire once thanked two of his employees with $1-million checks". June 4, 2017. Retrieved October 29, 2017 – via LA Times.
- ^ "This Billionaire Sold His Company -- Then Gave His Employees $85 Million". Forbes. 2015-11-04. Retrieved November 15, 2017.