Donald Friese
Donald Friese – The Entrepreneur
Business Success and Philanthropy
Donald Friese is a prominent figure in the business world, particularly within the glass and glazing industry. He achieved significant success by selling his industrial glazing company in California to an Irish conglomerate for a staggering $1.3 billion in 2015. In an extraordinary act of generosity, he distributed over $86 million in bonuses to approximately 1,400 employees who had dedicated their services to the company for more than a year. Among these employees, two warehouse workers were exceptionally honored with $1 million bonuses each, reflecting Friese’s appreciation for their hard work and commitment.
After stepping back from the industry, Friese co-founded the Friese Foundation, a non-profit organization aimed at supporting various charitable causes. This foundation has made notable contributions to organizations such as the American Red Cross, USO, and St. Jude Children’s Hospital. His commitment to philanthropy showcases his desire to give back to the community while supporting impactful initiatives.
Career Highlights and Achievements
Friese has over 60 years of experience in the glass and glazing industry, establishing himself as a key player and leader within this sector. Following his brief retirement, he made the decision to reconnect with the industry, demonstrating his dedication to nurturing its growth and prosperity. This move highlights his ongoing commitment to the field that has allowed him to achieve billionaire status.
Friese’s career is characterized by innovation and influence, as he played a pivotal role in shaping the industry’s landscape. His foresight and leadership have not only contributed to his personal success but have also positively impacted countless individuals through employment opportunities and philanthropic endeavors.
| Year | Achievement |
|---|---|
| 2015 | Sold his industrial glazing company for $1.3 billion |
| 2015 | Distributed over $86 million in bonuses to employees |
| 2021 | Co-founded the Friese Foundation |
His contributions to both his industry and the broader community solidify Donald Friese’s reputation as a leading entrepreneur and philanthropist in Los Angeles. For more insights into high net worth individuals like Friese, explore our article on high net worth los angeles.
Donald Friese – Personal Life
Early Life and Background
Donald Friese was born in Pennsylvania, where he spent his early years as an orphan. His journey to success began when he moved to Los Angeles with just $125 in his pocket. Starting his career in 1961 as a warehouse worker at CR Laurence, he eventually became the sole owner of the company, propelling it to global expansion. His determination and work ethic paved the way for an investment portfolio that includes equities, bonds, private equity investments, and a real estate portfolio, all of which have seen gains over the past year (LA Business Journal).
Family and Personal Contributions
Donald Friese is not only recognized for his business acumen but also for his philanthropic efforts. In 2021, he and his wife, Andrea, made a significant contribution of $50 million to support the Providence Cedars-Sinai Medical Center, leading to the opening of the Friese Family Tower in Tarzana. This donation reflects their commitment to healthcare and community well-being.
In addition to their donations, Donald and his son DJ founded the Friese Foundation, a nonprofit dedicated to various charitable causes, including the American Red Cross, USO, and St. Jude Children’s Hospital (FHC-USA). His contributions highlight a genuine desire to give back to the community and support those in need.
Despite entering retirement, Donald Friese continues to engage with the glass and glazing industry, showcasing his dedication to nurturing its growth and prosperity. He remains passionate about the field that significantly contributed to his self-made billionaire status, indicating that his commitment to his roots runs deep (FHC-USA).
Donald Friese – Controversies
Legal Issues and Sentencing
Donald Friese faced significant legal challenges when he pleaded guilty to second degree murder and possessing contraband in a penal institution, both classified as Class 1 felonies. He was sentenced to consecutive terms of imprisonment, leading to a lengthy prison term. However, he did not directly appeal the verdict. Instead, he submitted a motion months later to clarify his sentences. He sought presentence custody credits to reduce the duration of his imprisonment.
| Charge | Sentence Type |
|---|---|
| Second Degree Murder | Class 1 Felony |
| Possession of Contraband in Prison | Class 1 Felony |
In this legal saga, the Illinois Department of Corrections treated Friese’s two consecutive sentences as a single term of imprisonment. Each day spent in custody due to these offenses was credited only once against the total term, complicating his situation further (Casetext).
Handling of Legal Proceedings
The circuit court initially granted Friese credit for one year, nine months, and 28 days of time served. However, this order was later vacated, and it was confirmed that the sentencing in one case would run consecutively to the other. Friese filed several motions seeking clarification regarding his sentence, particularly about the total amount of jail time credit awarded to him.
Ultimately, the circuit court upheld the Illinois Department of Corrections’ treatment of his sentencing and denied his motions to modify or clarify his sentence. The court confirmed that his terms of imprisonment were correctly credited as a single 16-year sentence, dismissing any contrary arguments as without merit (Casetext).
Friese’s controversial legal journey illustrates the complexities involved in handling high-profile criminal cases, especially for individuals in the public eye. Such issues can resonate with those curious about the lives of high net worth individuals in Los Angeles and their personal and legal challenges.
Donald Friese – Financial Ventures
Donald Friese has made significant contributions to both the investment landscape and philanthropic efforts. His financial ventures encompass a diverse portfolio, aimed at fostering industry growth and supporting various charitable causes.
Investments and Real Estate Portfolio
After selling his industrial glazing company for $1.3 billion in 2015, Donald Friese shifted his focus to investments that span across equities, bonds, private equity, and real estate. His financial acumen has allowed him to build a robust portfolio that contributes to his overall wealth.
| Investment Type | Description |
|---|---|
| Equities | Investments in stocks across various sectors. |
| Bonds | Fixed-income investments providing regular interest. |
| Private Equity | Investments in private companies, often with a focus on growth. |
| Real Estate | Acquisition of properties for both investment and development purposes. |
Friese’s strategic investment decisions reflect his commitment to nurturing the glass and glazing industry, aiming to ensure its continued prosperity.
Charitable Donations and Community Impact
Philanthropy plays a pivotal role in Donald Friese’s life. He operates a philanthropic foundation and is a strong supporter of various charitable causes. His contributions reflect his belief in giving back to the community and supporting those in need.
Some notable contributions include:
- A donation of $50 million to support the Providence Cedars-Sinai Medical Center.
- Support for the American Red Cross and St. Jude Children’s Hospital.
Friese’s philanthropic efforts highlight his dedication to making a meaningful impact in both local and global communities. Through his financial ventures and charitable donations, he demonstrates a commitment to social responsibility that resonates with many high net worth individuals in Los Angeles. For more insights into notable figures in this demographic, explore our section on high net worth los angeles.
Donald Friese – Recent Endeavors
Recent Activities and Ventures
Donald Friese, a notable figure in Los Angeles’ high net worth community, has made significant strides since selling his industrial glazing company in 2015 for $1.3 billion. After this lucrative exit, where he generously distributed over $86 million in bonuses to his employees (Money), he established a diverse investment portfolio comprised of equities, bonds, and private equity investments. This venture extends to real estate investments, both of which have seen gains in recent years (LA Business Journal).
In addition to his business pursuits, Friese co-founded the Friese Foundation, aimed at supporting various charitable causes. This non-profit plays a vital role in aligning his business success with community contributions. His industry expertise remains evident as he re-engages with the glass and glazing sector, demonstrating a commitment to nurturing its growth and sustainability.
| Recent Venture | Details |
|---|---|
| Investment Portfolio | Comprises equities, bonds, and private equity investments. |
| Friese Foundation | Non-profit organization focused on various charitable causes. |
| Real Estate Investments | Portfolio has seen substantial gains over the past year. |
Impact on Local and Global Communities
Friese’s philanthropic efforts have had a notable impact, particularly highlighted by his substantial donation of $50 million to support the Providence Cedars-Sinai Medical Center. This contribution funded the establishment of the Friese Family Tower, which opened in September 2021 in Tarzana, enhancing medical care in the community (LA Business Journal).
Through his charitable work and community-focused investments, Friese aims not only to support local initiatives but also to set a precedent for other high net worth individuals in Los Angeles. His approach to balancing business success with social responsibility serves as an inspiring model within the community.
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