[Info] [GM] [BM] [YM]
By: Champion3
@ 2013-08-28 14:46:08
Foster S. Friess is the founder of Friess Associates an asset management firm that he grew to over $15.7 billion in assets managed. Forbes named the Brandywine Fund, a Friess Associates flagship that boasted an average of 20% annual gains in the 1990s, as one of the decade's top performers. He has been called a billionaire, but his real net worth has been estimated to be $530 million.
He is an active supporter of conservative politics and philanthropy. When he and his wife, Lynn, celebrated their 70th birthdays with four days of dinners, receptions and activities for 200 friends. All expenses were covered by the Friesses, and the weekend culminated with a dinner party at the Four Seasons Hotel in Teton Village. In the invitations to the party, he asked the guests to identify their favorite charity, and vowed to give $70,000 to the most worthy nominee. As the envelopes were distributed, Friess asked the lucky winner to stand up and shout, and for the other guests to remain seated. Within seconds of opening the envelopes, people exploded up from every table, shouting “I won! I won!” The Friesses had surprised their guests by writing $70,000 checks to every one of the nominated charities — a show of generosity that cost the hosts $7.7 million.