D onald Friese is a self-made American billionaire who built his fortune in the glass and glazing industry. His is a remarkable rags-to-riches story. He grew up in an orphanage and, after serving in the U.S. Army, he took a warehouse job at C.R. Laurence, a small glass supply company, in 1961. Through decades of hard work and dedication, he rose through the ranks.
He eventually bought the company from its founder and, as CEO and owner, transformed it into the dominant supplier of tools and hardware for the glazing industry in North America. He grew the company with a relentless focus on customer service and an encyclopedic product catalog. In 2015, he sold C.R. Laurence to the Irish building materials giant CRH for $1.3 billion in cash. He has since focused on philanthropy and is a signatory of the Giving Pledge, committing to donate the majority of his wealth.
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Donald 'Don' Friese is an American businessman, the self-made billionaire founder and former owner of C.R. Laurence Co., Inc. (CRL), a global supplier of specialized glazing supplies and components for the glass industry. Born in York, Pennsylvania, in 1940, he was the third of 13 siblings, growing up in modest circumstances.
After high school graduation, he served three years in the U.S. Army (1958–1961), trained as a missile mechanic and stationed in Taiwan and Okinawa. This military discipline and technical training prepared him for the demanding world of industrial manufacturing. Upon his discharge, he moved to Los Angeles with just $125 in his pocket, taking an entry-level job as the sixth employee at C.R. Laurence.
Donald Friese's career is a testament to dedication and equity ownership. He quickly became indispensable at C.R. Laurence. The owner, Bernie Harris, recognized his talent and sold him a 10 percent stake a few years later. Friese gradually acquired more equity, eventually buying Harris out when he retired in 1997, securing 100 percent ownership of the company.
Under his leadership, C.R. Laurence grew exponentially, expanding its distribution and launching its own manufacturing operations, producing over 65,000 products for the glass industry. The pinnacle of his financial career was the sale of C.R. Laurence to the Irish conglomerate CRH plc in 2015 for $1.3 billion cash. Crucially, Friese retained most of the company's real estate assets, providing continued stable income. He famously shared his success with his long-time employees, donating $85 million to them after the sale, reflecting his deep commitment to their loyalty.
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Serves in the U.S. Army as a missile mechanic (Military Service).
Joins C.R. Laurence as the sixth employee (Corporate Entry).
Acquires 100 percent ownership of C.R. Laurence (Ownership Consolidation).
Sells C.R. Laurence to CRH plc for $1.3 billion (Major Exit).
Donates $85 million to his employees (Philanthropic Milestone).
Continues as CEO (Executive Leadership).
Donald Friese's wealth is concentrated in the immense liquid capital generated from the sale of C.R. Laurence and his substantial real estate holdings.
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Donald Friese's social impact is structural, stemming from C.R. Laurence's role as a major manufacturer and supplier to the construction and glass industries. His structural social impact is tied to his unprecedented commitment to his employees: the $85 million donation he shared with them after the sale is a landmark example of distributing entrepreneurial success directly to the workforce.
His personal philanthropy supports various veterans' causes and community initiatives, reflecting his background as a U.S. Army veteran.
Donald Friese maintains the pragmatic, dedicated style of a self-made industrial executive. His attire is consistently professional and conservative, favoring tailored business suits. His aesthetic is one of serious authority, tempered by his known generosity toward his employees.
Residing in Chatsworth, Los Angeles, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to industrial manufacturing, asset management, and his commitment to his long-time employees.
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“You quit, you're done.”
“The greatest investment you can make is in the loyalty and dedication of your employees.”
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+0.21% | +$5.55M
+0.7% | +$10.44M
This profile is compiled from verified biographical and financial records:
All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.
If you find any inaccuracies, please report them to admin@redcarpetlife.in
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