Meet Foster Friess, Rick Santorum's Billionaire Sugar Daddy
Bill Berkowitz printable version print page     Bookmark and Share
Mon Jan 23, 2012 at 12:40:44 PM EST
Of the three billionaires - Sheldon Adelson, Jon Huntsman, Sr. and Foster Friess -- that Politico's Ken Vogel wrote about recently in a piece titled "3 billionaires who'll drag out the race," we probably know the least about Rick Santorum's pal, Foster Friess, who by all accounts has nothing to do with the ice-cream franchise, but had a lot to do with keeping the former Pennsylvania Senator's campaign afloat as the Republican Party's presidential sweepstakes played out in South Carolina.

Foster Friess is "a major financial backer of a super PAC supporting Rick Santorum called the Red, White and Blue Fund," Politico reported. "'I guess if Newt's got $5 million, it makes sense that ... [Santorum] should have a little bit,' said Friess, who has known Santorum since the 1990s and shares his conservative views on social and foreign policy issues."

Adelson, Huntsman, Sr. & Friess

Sheldon Adelson, a major backer of Gingrich, has been frequently dubbed the "Casino King," owing to the fortune he's made in the gambling business. A billionaire many times over, Adelson has been backing Gingrich's various enterprises for quite some time; some reports have his earlier donations at $7.7 million. Add to that, the $5 million he recently gave to Gingrich, which  contributed to Gingrich's victory in South Carolina.

Jon Huntsman, Sr., "who made his fortune at the helm of" the Huntsman Corp., a chemical and manufacturing company, "reportedly invested millions in a super PAC supporting the presidential bid of his son, former Utah Gov. Jon Huntsman, Jr." (who has since dropped out of the race), Vogel reported.

Then, there's Foster Friess.

Santorum's cash cow

According to Politico, Friess "became among the first major donors to the Red, White and Blue Fund because, he said, `I believe that Rick Santorum is the most electable candidate. And I'm just thrilled to be able to have played a role so far.'"

The self-styled cowboy spoke on behalf of Santorum in Iowa, and he nabbed a spot on the stage with the former Pennsylvania Senator during his speech after his second place finish in that state. (Last week Santorum was declared the winner in Iowa.)

Friess is the founder of Friess Associates, a Wyoming investment firm that has managed several billion of equities for such clients as the Nobel Foundation of Stockholm, Vanderbilt University, and the Brandywine and Brandywine Blue mutual funds.

Unlike Adelson, who prefers to "stay under the radar," Friess is a front and center kind of guy who has donated oodles of money to a string of conservative causes and candidates.

He has a blog called "Foster Friess," whose tagline reads: "Encouraging Private Sector Solutions." In a 1998 interview, Friess said: "One of the reasons that the government went into the business of trying to help the poor was that the private sector had turned its back on these problems and created a vacuum. Now the government is failing, and there is another vacuum. It is a great opportunity for the private sector to come back in and demonstrate what it can do."

Friess added: "We will never move government programs into the private sector if the private sector does not step up to fill the need first." Friess believes firmly in the idea of running his business based on his interpretation of Biblical principles, one of which is to discourage sin.

"Any businessman interested in building a healthy economy should see not only the moral but the economic value of discouraging sin and encouraging virtue," Friess said. "As Michael Novak has said, `Self-government depends on the capacity of citizens to govern their own passions, urges, habits, and expectations.' We should work to rebuild a virtuous economy. Ephesians 4:28 reads, `Let him who stole, steal no more-but take up honest work.' Through our sin, we steal from our economy. God wants us, instead, to be productive-to replace the costs of sin with the rewards of virtue."

Friess' "Key Issues" include "Education," "promoting school choice, charter schools, and innovative private sector solutions"; "Climate Change," "exposing citizens to the best science available, considering the consequences of regulation, and encouraging private sector solutions"; "Government," "promoting ... limited government and exposing the burdens of excessive regulation..."; "Health Care," "a government that controls your health, essentially controls you"; "Immigration," "border security [is] the top priority"; "Helping Peaceful Muslims"; and, "Enduring Values."

"A longtime donor to social conservative causes dear to Santorum, Friess and his wife Lynn, both 71, built a $15.7 billion investment management firm," Politico reported. According to Politico, the Red, White and Blue Fund "intends to ... [buy] $600,000 more in ad time in South Carolina, bringing its total buy to about $800,000 in the state, which is considered fertile ground for Santorum's socially conservative message."

At his blog Truth-2-Power, Brian Ross recently wrote that Santorum's rise in Iowa would not have been likely without support from Friess. Although "Friess manages to avoid the radar of giving... [h]e was acknowledged at the privately held Koch seminar in June 2011 in Vail, Colorado for donating at least $1 million to Koch-related causes." And while "OpenSecrets.org doesn't even list him at this time, and the FEC registers only a paltry $1000 gift to Gary Bauer's campaign in 1999 ... he has given hundreds of thousands of dollars to Santorum, both now and in his unsuccessful re-election bid in Pennsylvania in 2006, and the Republican Governor's Association."

Friess is also a member of the Council for National Policy, a secretive organization of right wing policy makers, fundraisers and activists that meet yearly to shape the conservative agenda.

In September 2010, Matthew Reichbach, reporting for the New Mexico Independent, pointed out that has Friess has "promoted the controversial documentary Obsession: Radical Islam's War Against the West. DVDs of the movie, criticized as inflammatory, were mailed out to swing state voters and inserted in newspapers in advance of the 2008 election." Friess recorded a You Tube video, which called attention to the "powerful" Obsession video.

According to Ross, "Freiss has also reportedly spent more than $3M to fund Tucker Carlson's conservative website, The Daily Caller. ... [and] he gives to conservative think tanks like the American Enterprise Institute, and to education groups that advocate for school voucher programs, including the Alliance for School Choice."

In 2010, Friess told the Washington Post by email that, "Tucker and Neil [Patel, Carlson's partner] present a huge opportunity to re-introduce civility to our political discourse. They are mature, sensible men who are very thoughtful and experienced with pleasant senses of humor and do not take themselves too seriously. They want to make a contribution to the dialogue that occurs in our country that has become too antagonistic, nasty and hostile. . . .

"You don't have to be around them very long to sense that they are hard working, committed American Patriots who love this country." 
Prior to its launch, Carlson told the ultra-conservative Human Events that the site would be "opposed to what's going on" under President Obama -- "a radical increase in federal power . . . a version of socialism."

Whether Friess will continue pumping money into Santorum's flagging campaign remains to be seen. However, if Gingrich continues to do well in the primaries, and Santorum continues to fade, do not be surprised if Friess' shows up as a Gingrich donor.




Display:
Do we know where Foster gets his money, and if so can that flow of money be stopped?

by Hirador on Mon Jan 23, 2012 at 02:23:26 PM EST
 ..I missed it on my first read-through. still though, could it be boycotted?

by Hirador on Mon Jan 23, 2012 at 02:24:23 PM EST
[ Parent ]


Sheldon Adelson looks to be getting a better return on his own investment in Newt than Friess is getting from Little Ricky. That being said, I agree that Friess might well end up giving to Newt.

by khughes1963 on Mon Jan 23, 2012 at 08:32:14 PM EST


WWW Talk To Action


Santorum not Source of 'Phony Theology' Idea, Origins in 'Biblical Economics' Partnership
What did Rick Santorum mean when he described President Obama's environmental policy as being phony theology?  Santorum is not the original source of this......
By Rachel Tabachnick (4 comments)
Texas Toast: El Paso Church Loses Legal Case Over Political Intervention
An El Paso church's brazen effort to remove the mayor and two members of the city council has been brought to a screeching halt.......
By Rob Boston (2 comments)
The Bishops Can't Have It Both Ways
There is a profound and easily spotted hypocrisy when someone, or some institution declares in favor of freedom for me, but not for thee.......
By Frank Cocozzelli (7 comments)
The Religious Bigotry of Rick Santorum
Rick Santorum has sought to project a sunnily suburban, regular guy appeal as he vies for the GOP presidential nomination. But whenever I have......
By Frederick Clarkson (23 comments)
Exporting Right-Wing Christianity
A New Study by Jean Hardisty and Chip BerletProgress in human welfare and peaceful relations is never assured. It is always a struggle, and......
By Chip Berlet (13 comments)
Contraceptives and Convictions
"...I have often said that religion and politics are always connected, that there is no fixed template for their interaction, and that the dynamic......
By wilkyjr (7 comments)
Bibliography for PA Progressive Summit 2012 Presentation on 'Biblical Economics'
This past weekend the third annual PA Progressive Summit was held in Philadelphia. As a presenter at the summit I spoke about "Biblical economics"......
By Rachel Tabachnick (0 comments)
Revisiting the School Vouchers Debate
This weekend I had the pleasure of speaking at the PA Progressive Summit 2012 in Philadelphia.  I will soon post a summary of my......
By Rachel Tabachnick (4 comments)
The Season of Ideological Wardrobe Malfunctions
Yesterday, I reposted a piece about how somethings don't change. It was partly about the wrongheadedness of pundit E.J. Dionne who has been one......
By Frederick Clarkson (2 comments)
The Maine Issue With The Catholic Right's Culture Wars.
Portland Bishop Richard Malone, whose diocese encompasses the entire State of Maine, took on the legislature about two years ago.  He led a successful......
By Frank Cocozzelli (3 comments)
Some Things Don't Change
This is a reprise of a piece I originally posted on May 16, 2007,titled: When Common Ground Means Capitulation -- to Falwell. It was......
By Frederick Clarkson (11 comments)
Adopting Bias: New Va. Rules Seek To Safeguard 'Faith-Based' Bigotry
Legislators and media pundits in Washington, D.C., continue to obsess over the birth control mandate in the new health care law and whether church-related......
By Rob Boston (4 comments)
GOP Candidates Embrace a Major Religious Right Narrative
Rick Santorum and Mitt Romney's demagogic claims that President Obama is engaged in a "war against religion" are as unsurprising as they are disturbing.......
By Frederick Clarkson (8 comments)
NAR Apostle Harold Caballeros Heads Guatemala Foreign Ministry
In January 2012, with the inauguration of former military general Otto Pérez Molina as Guatemala's president, NAR apostle Harold Caballeros took charge of Guatemala's......
By Bruce Wilson (2 comments)
As Eddie Long Controversy Grows, Video Emerges of 'Rabbi' Messer Wrapping Paula White in Torah
A Christian Post article dated February 5 is one of many reports of denials by televangelist Paula White and her attorney of any ties......
By Rachel Tabachnick (10 comments)

Fundies planning "America for Jesus" rally in Philly
Late Sunday, a group of fundie leaders announced plans to hold a prayer rally at Philadelphia's Independence Mall on September 28 and 29 under the moniker "America for Jesus 2012."  It looks innocuous......
Christian Dem in NC (1 comment)
American jihadist
Don't let the dorky sweater vest fool you. Beneath that benign-looking garment beats the heart of an extremist, a radical more akin to the Islamic fundamentalists of the Taliban and the ultra-orthodox Jews of......
SubversiveSpeech (0 comments)
Dominionist linked group seeks return of government-mandated prayer
If you haven't noticed, the religious right has operated in a rather consistent cycle since the 1980s.  Get a little bit of power, overreach, get smacked down, climb back up in a few......
Christian Dem in NC (1 comment)
Cornwall Alliance spokesman: Environmentalism is a religion
The standard fundamentalist attack on the environmental movement is that it exalts the creation over the creator.  But now one of the leading fundie critics of environmentalism is taking a new, and if possible......
Christian Dem in NC (2 comments)
Harold Caballeros, October 5, 2006, #1
On October 5, 2006, Harold Cabballeros, founder and senior pastor of El Shaddai Church in Guatemala City, spoke at the "Spirit in the World: The Dynamics of Pentecostal Growth and Experience" symposium sponsored by......
Bruce Wilson (0 comments)
Truth Wins Out Reports on Exodus International's Attempt at Rebranding
An extensive report has been posted at Truth Wins Out (TWO) on the rebranding of Exodus International, the discredited and financially strapped pray-away-the-gay organization. The report is titled "The Exodus SmokeScreen" and subtitled, "Exodus......
Rachel Tabachnick (0 comments)
Breast cancer awareness T-shirt prompts dispute at skating rink
crossposted from The Clarion Ledger) http://www.clarionledger.com/apps/pbcs.dll/article?AID=2012202040 349 ""I am offended as a mother; as the daughter of a cancer patient; as a Christian woman; as a fundraiser and donor of time and money to......
COinMS (0 comments)
Delaware state house Dems distance themselves from Wagner tribute
The Democrats in the Delaware state House of Representatives are in full damage control mode over a tribute given back in January to C. Peter Wagner, a prominent leader of the New Apostolic......
Christian Dem in NC (1 comment)
Is Peter Wagner lying about commendation from state of Delaware?
Those of us who have watched the New Apostolic Reformation have come to expect bizarre claims.  Well, today  C. Peter Wagner made one of the most bizarre claims yet.  He sent out an......
Christian Dem in NC (1 comment)
New dominionist effort to target Hollywood with prayer
In yet more proof that the New Apostolic Reformation is trying to make itself heard in a big way this year, late yesterday several leaders of that movement got together to announce a......
Christian Dem in NC (0 comments)
Santorum Accuses Colleges of Anti-Religious "Indoctrination" But Gingrich Said it First
CBS and other media outlets have pounced on a Rick Santorum claim, that America's colleges and universities are hotbeds of anti-religious "indoctrination", but Newt Gingrich has been saying that for years. As Santorum declared......
Bruce Wilson (2 comments)
Leader of NC gay marriage ban effort, in his own words
cross-posted at dKos One of the leaders of the effort to write a gay marriage ban into North Carolina's constitution is Patrick Wooden, the pastor of Upper Room Church of God in Christ in......
Christian Dem in NC (2 comments)
AFA endorses AIDS denialism
If Public Policy Polling's early numbers are accurate (and there's little reason to doubt they are) Newt Gingrich will likely take the lead in national polling this week.  In light of this, there's......
Christian Dem in NC (1 comment)
Family Research Council chaplain openly calls for non-Christians to be banned from public office
Anyone who's studied the religious right can't help but notice a pattern to how they've operated over the last three decades.  They get a little bit of power, only to overreach and get smacked......
Christian Dem in NC (5 comments)
Cindy Jacobs prophecies divine intervention unless we elect Repubs
Late last week, New Apostolic Reformation "prophetess" Cindy Jacobs announced the yearly "Word of the Lord" from the Apostolic Council of Prophetic Elders.  (h/t to PFAW's Right Wing Watch). This "Word" makes for......
Christian Dem in NC (3 comments)

More Diaries...




All trademarks and copyrights on this page are owned by their respective companies. Comments, posts, stories, and all other content are owned by the authors. Everything else © 2005 Talk to Action, LLC. Powered by Scoop