MutualFundWire.com: Foster Friess is Not (Yet) a Billionaire
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Friday, February 10, 2012

Foster Friess is Not (Yet) a Billionaire


Whatever happened to a little fact checking in journalism? Forbes reports that Foster Friess, the Guardian's "Christian billionaire", and The New Republic 's own "eccentric billionaire" is not quite as loaded as some pubs make him out to be.

Friess, who founding Friess Associates, the investment adviser for the Brandywine Fund, is reportedly responsible for setting up the Red, White and Blue Super Political Action Committee, which the New York Times credited with helping fuel Santorum's three state sweep this week by purchasing TV ads on his behalf, according to InvestmentNews. Friess had donated $331,000, or 40 percent of the fund's assets, as of Dec. 31, according to a filing with the Federal Election Commission.

Forbes takes a stab at other pubs' misrepresentation of Friess' actual net worth with this zoinger: "He is indeed a devout right-winger, a born-again Christian and plenty rich, but he himself admits he isnít a billionaire," writes Sean Kilachand, who backs up his assertion with an email exchange he had Friess, or one of his associates, last week.

"'When people dub me a billionaire my [wife] came to me and asked if I was squirreling money away.í So, Iím not there yet, Sean, but keep in touch. Hope I make it some day, and will be on your list," according to the correspondence.


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