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For Immediate Release

 

Foster S. Friess 

April 2, 1940 - May 27, 2021

 


May 27, 2021


Scottsdale, AZ – Foster S. Friess passed away peacefully today, May 27th, surrounded by his family.



A visionary investor and pioneer of growth stock picking, Foster's business story started with $800 of accumulated U.S. Army leave pay. Friess Associates' high-performing Brandywine Fund led both CNBC and Fox News' Neil Cavuto to dub Foster one of the "century's great investors," and Forbes magazine named him, along with Warren Buffet, Peter Lynch, and John Templeton, among the ten most successful money managers of this generation.


Donating more the $500 million in his lifetime, Foster and his wife Lynn's philanthropy spans the globe: aiding towns ravaged by natural disasters, providing fresh water to remote villages, supporting the front lines of the battle against ISIS, and helping thousands recovering from addiction. In 2000, at the National Charity Awards Dinner in Washington, D.C., Foster was named the "Humanitarian of the Year," following in the footsteps of Coretta Scott King, Bob Hope, President George H.W. Bush, and Lady Bird Johnson. Foster's commitment to Galatians 6:2: Carry one another's burdens, in this way you will fulfill the law of Christ, led the "Champ" himself to award Foster the Muhammad Ali Humanitarian Award.

 

Foster's family released the following statement: 


"We are grateful for the wonderful life Foster lived and thankful to the many people who have shared their prayers during his illness. We know many of you mourn with us, and we will have more details soon on Foster's funeral."

Remembrance services will be held in Scottsdale, Arizona, Jackson, Wyoming, and Rice Lake, Wisconsin. 

 

Foster S. Friess grew up in Rice Lake, Wisconsin, a first-generation college graduate. His mother dropped out of school in the eighth grade to pick cotton in order to save the family farm in Texas. His father dealt cattle and horses.


Foster was an early civil rights activist and, as a young man, confronted motel owners in his hometown of Rice Lake, Wisconsin, encouraging them to accommodate minorities. Foster was valedictorian, class president, student council president, and captain of his basketball, track, golf, and baseball teams. 


At the University of Wisconsin, Foster earned a degree in business administration, served as president of his fraternity, and was named one of the "ten most outstanding senior men." As president of the Kappa Chapter of the Chi Phi Fraternity, he welcomed their first Jewish member. Foster also won the heart of "Badger Beauty" and Chi Omega President Lynnette Estes, whom he married in 1962. Two sons, two daughters, and fifteen grandchildren followed.


Foster was trained as an Army Infantry Platoon Leader and served as an Intelligence Officer for the guided-missile brigade in El Paso, Texas. In 1965, with just $800 of accumulated leave pay, Foster, wife Lynn, and infant daughter moved to Wilmington, Delaware where he began his investment career with Brittingham, Inc., leaving in 1974 to launch Friess Associates. Their first client was the Nobel Foundation of Stockholm, Sweden.


The firm's flagship Brandywine Fund averaged 20 percent annual gains in the 1990s, leading Forbes magazine to name it one of the decade's top mutual funds. CNBC dubbed Foster one of the "century's great investors," and Fox News' Neil Cavuto called him "one of the greatest value investors to have ever lived." In June of 2018, Foster was mentioned by Forbes, along with Warren Buffet, Peter Lynch, and John Templeton, to be among the ten most successful money managers of this generation.


Foster and Lynn have devoted over $500 million to philanthropy. In 1999, the "Champ" himself awarded Foster the Muhammad Ali Humanitarian Award. In 2000, at the National Charity Awards Dinner in Washington, D.C., Foster was named the "Humanitarian of the Year," following the footsteps of Coretta Scott King, Bob Hope, President George H.W. Bush, and Lady Bird Johnson.


Foster gained his philanthropic inspiration from Galatians 6:2: Carry one another's burdens, in this way you will fulfill the law of Christ. Foster and Lynn engaged in a broad scope of philanthropic activities; supporting families of disabled children in Wyoming, helping provide safe drinking water to third world countries, assisting victims of Hurricane Katrina, the Sri Lanka tsunami, and the Haitian earthquake. 


Partnering with Tucker Carlson, Foster launched the Daily Caller. In 2012, Foster met Charlie Kirk, and was instrumental in the launch of Turning PointUSA. That same year, he was inducted into the Horatio Alger Association of Distinguished Americans. The Horatio Alger Award symbolizes personal initiative and perseverance, leadership and commitment to excellence, belief in the free-enterprise system, the importance of higher education, community service, and the vision and determination to achieve a better future. 


In 2018, Foster launched Foster's Outriders with the mission to promote principles of free enterprise, limited constitutional government, fiscal responsibility, and traditional American values. Working with Democrats, Republicans, and Independents, the foundation strives to unite Americans from all backgrounds around issues we can all agree on. 


In 2021, President Donald Trump, Senator Jim DeMint, and Congressman Mark Meadows presented Foster with the Conservative Lifetime Achievement Award. 


Foster leaves behind his wife of 58 years, Lynnette, and their four children, Traci and husband, Fausto, Stephen and wife, Polly, Carrie, and Michael and wife, Fanny. Foster and Lynn have 15 grandchildren. Foster is also survived by his brother Herman and sister-in-law, Judy.

 

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Contact: teamwy@fosterfriess.com 

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“In 2018, Foster launched Foster's Outriders with the mission to promote principles of free enterprise, limited constitutional government, fiscal responsibility, and traditional American values. Working with Democrats, Republicans, and Independents, the foundation strives to unite Americans from all backgrounds around issues we can all agree on.”


These Outrider principles are totally aligned with those of Caesar Rodney Institute. Not surprisingly, Foster, formerly a Delawarean, has been a consistent, major supporter of CRI, a non-partisan 501(c)(3) tax-exempt organization. Foster's Outrider Foundation has been formed to perpetuate Foster’s interests via his many friends who are his “outriders,” i.e., cowboys who keep the herd heading in the right direction.


Foster’s many friends at CRI were enriched by his optimistic spirit, encouraged by his confidence in us, and privileged to know him as a friend. We will miss him…greatly.


-Caesar Rodney Institute's Board of Directors, Advisory Board, and Staff

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FOR IMMEDIATE RELEASE


 

Funeral Services for Philanthropist and Business Leader

Foster Friess to be Held in Phoenix, Arizona and Jackson, Wyoming


  

JACKSON, WY – The family of philanthropist and business leader Foster S. Friess announced the following public funeral services to take place in Phoenix, AZ, and Jackson, WY.

 

Phoenix, AZ

Saturday, June 5, 2021

10:00am – 11:00am

Valley View Bible Church

4222 E. Lincoln Drive

Paradise Valley, AZ

 

Jackson, WY

Sunday, June 6, 2021

2:00pm – 3:00pm

Presbyterian Church of Jackson Hole

1251 S. Park Loop Road

Jackson, WY

 

 

On Monday, June 7th, Foster Friess will be placed to rest following a local cemetery service in his hometown of Rice Lake, WI. 

 

For those unable to attend, services will also be available via live streaming, accessible on www.FosterFriess.com and also his public Facebook page at https://www.facebook.com/FosterFriess


In lieu of flowers, donations can be made via the National Christian Foundation to Foster’s Outriders Foundation, which supports efforts of Rachel’s Challenge, ACE Scholarships, Adult and Teen Challenge, Kickstart Kids, Water Mission, and many of Foster’s favorite charities.



“The only thing bigger than Foster’s cowboy hat was the size of his heart, which had a passion and compassion for his fellow man. Foster’s willingness to humbly serve his community and his country was evident at every turn.” - Mark Meadows

 

“He will be missed by people on both sides of the aisle. He and Harry Reid had a very good relationship.” – Rick Santorum

 

Former Democratic Senator Harry Reid concurred, citing his friendship with Foster as proof that people could be friends despite political differences.

 

“The friendship between myself and Foster Friess shows that people who are different politically can be the best of friends, which we were. He had many strong traits, but his number one trait was his generosity,” Reid said.

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Goodbye To An Amazing Friend: A Tribute To Foster Friess | The Daily Caller


Sending a smile in memory of conservative philanthropist Foster Friess | Washington Examiner


Foster Friess, Big Donor to Republicans, Dies at 81 - The New York Times 

 

GOP megadonor Foster Friess dies at 81 | 307 Politics | trib.com


GOP donor, investor, philanthropist Foster Friess dies at 81 - The Washington Post

 

Lummis, Barrasso, Cheney offer condolences to Foster Friess' family - Casper, WY Oil City News

 

Remembering Foster Friess by Spencer Brown (townhall.com)

 

GOP megadonor Foster Friess dies at 81 | TheHill

 

Bill Sniffin: Thank You Foster Friess For Being Such A Kind And Generous Human Being | Cowboy State Daily

 

Foster Friess, investment manager and philanthropist, dies at 81 - DBT (delawarebusinesstimes.com)

 

A Dinner with Foster Friess - Dana Loesch's Chapter and Verse


In Memoriam: Foster Friess by National Association of Scholars | NAS

 

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Contact: teamwy@fosterfriess.com 

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