Paul L. Foster
Paul L. Foster is the founder and CEO of Franklin Mountain Investments, a diversified investment and operating company.
Mr. Foster serves as a director on the boards of Franklin Mountain Capital, LLC, Franklin Mountain Energy, LLC, Jordan Foster Construction, Vomaris Innovations, Inc., the El Paso branch of the Dallas Federal Reserve Bank, and WestStar Bank. Previously, Mr. Foster served as the Chairman of the University of Texas System Board of Regents for four years and served as its Vice Chairman for eight years. He also served as the Chairman of the University of Texas Investment Management Company (UTIMCO) and is a former member of the University of Texas System’s University Lands Advisory Board. He is a past member of the Texas Higher Education Coordinating Board and the Texas Business Leadership Council. He was the founding Chairman of El Paso Regional Economic Development Corporation (REDCo).
In October 2021, Mr. Foster was named Chairman of the new board of the Electric Reliability Council of Texas (ERCOT). Mr. Foster also serves on the Executive Committee of the Borderplex Regional Economic Alliance and is a member of the World Presidents’Organization. He and his wife, Alejandra de la Vega Foster, are philanthropists and significant supporters of the Borderplex cities of El Paso, Texas, Las Cruces, New Mexico, and Ciudad Juarez, Mexico. They are co-founders of Mountain Star Sports Group, owners of the El Paso Chihuahuas Triple-A Baseball team, the FC Juarez Bravos Liga MX Soccer club, and the El Paso Locomotive USL Soccer club.
A catalyst in the revitalization of El Paso’s Downtown, Mr. Foster purchased and restored several buildings in what is now called the Mills Plaza District. His latest investment in the City’s center is the landmark Plaza Hotel, which will soon be restored and opened under a private hotel brand.
Mr. Foster has received the Baylor University Distinguished Alumni Award, was inducted into the 2013 Class of the Texas Business Hall of Fame, and in 2007 and 2013 was presented with the City of El Paso’s highest honor, the Conquistador Award. He was named El Pasoan of the Year twice, inducted into the El Paso Business Hall of Fame, and was named as El Paso’s Entrepreneur of the Year.
In November 2021, Baylor University announced the naming of the Paul and Alejandra Foster Pavilion in recognition of their gift of $100 million in 2019 to the Give Light Campaign, which launched the public fundraising campaign for the Basketball Pavilion, home to Baylor’s National Championship basketball teams. The Fosters’ gift, which until 2021 was anonymous, also sparked unprecedented support for faculty through the creation of a dollar-for-dollar matching program for qualifying gifts providing faculty support to Baylor in support of Illuminate, the University’s strategic plan. Known at the time as the Baylor Academic Challenge, the program, which prompted the funding of 14 faculty endowed chairs, will be known as the Foster Academic Challenge. In 2013, the Fosters also gave $35 million to Baylor to support the construction of Baylor Stadium, and to build the Paul L. Foster Campus for Business and Innovation, which houses the Hankamer School of Business at Baylor University. The Foster’s donation represents the largest gift from a living alumnus in Baylor's history. Additionally, they made a $3 million donation to establish the Paul L. Foster Success Center at Baylor University.
Mr. Foster and his longtime friend and business associate, Jeff Stevens, donated $6 million to fund the Foster-Stevens Basketball Complex on the campus of the University of Texas at El Paso and Mr. Foster donated $5 million for the Sun Bowl Transformation Project.
In addition, the Fosters donated $500,000 to help fund La Mano Amiga, an operations facility for El Pasoans Fighting Hunger. Mr. and Mrs. Foster also gave $2 million to the El Paso Zoo, to provide ongoing, year-long memberships for military families, as well as to fund the Foster Tree House Playground and support other Zoo projects. Mr. and Mrs. Foster also presented a $1 million gift to the New Mexico State University Foundation in support of Arrowhead Center, the university’s regional entrepreneurship and innovation hub. Going forward, the majority of the Foster Family’s charitable contributions are planned to occur through the Paul L. Foster Family Foundation.