396. Magna CEO on Turning Five Thousand Dollars Into One Billion | Frank Stronach

The Jordan B. Peterson Podcast

DailyWire+

Education, Science, Society & Culture

4.6 • 34.5K Ratings

🗓️ 13 November 2023

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dr. Jordan B Peterson sits down with founder and CEO of Magna International, Frank Stronach. They discuss the keys to starting and maintaining a successful business, and the ideas contained within the Economic Charter Rights, which advocates for the input and autonomy of all workers and profit sharing to be exercised company wide. Frank Stronach is the Founder and Honorary Chairman of Magna International Inc., the world's most diversified automotive parts supplier with more than 170,000 employees in 43 countries and sales of over $40 billion US. At Magna, he introduced his unique management philosophy known as Fair Enterprise, which is based on a business Charter of Rights that predetermines the annual percentage of profits shared between employees, management, investors and society. - Links - For Frank Stronach: The Stronach Foundation for Economic Rights; https://economiccharter.ca/ On Instagram https://www.instagram.com/officialfrankstronach/ The Greed Factor (Book) https://www.amazon.com/Greed-Factor-Solutions-Revitalize-Enterprise-ebook/dp/B08R7V792K/ref=sr_1_2?qid=1699902367&refinements=p_27%3AFrank+Stronach&s=books&sr=1-2 Official website for the SARIT car https://saritmobility.com/

Transcript

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0:00.0	The Hello everyone watching and listening. Today I have the honor to speak with
0:19.4	Frank Stronak, founder and CEO of Magna International, one of Canada and the world's great companies.
0:27.0	Frank built that company from nothing starting in the 1950s.
0:30.7	It's quite a story.
0:32.0	We discussed the keys to motivating yourself, to starting and maintaining a successful and expanding business, why that's a good thing for yourself and everybody else.
0:41.0	The idea contained within within his corporate constitution. It's an economic
0:47.1	charter of rights which advocates for the input autonomy and profit sharing among all workers, management, shareholders, etc.
0:58.0	And I'm very much looking forward to talking about it with him.
1:02.0	Hello, Mr. Strawnak, it's very, very nice to see you.
1:06.4	We met a couple of months ago at a restaurant in Toronto and I had the opportunity to talk to you
1:12.0	about your business ventures over the last five or six decades,
1:17.2	which I found extraordinarily interesting.
1:20.0	And in the intervening period of time.
1:22.7	I've read your I've read one of your books,
1:25.6	the one that's more autobiographical.
1:28.6	And I'm very interested in your story.
1:31.4	I thought you would make a particularly good podcast
1:33.9	guests because one of the things I do with my podcast
1:39.7	is walk people through the lives of successful individuals
1:46.0	because I think it would be better if people
1:50.0	believe that they could move forward successfully in the world and that they were equipped
1:55.9	with some knowledge about how to do that. And I think that's something we could really concentrate on
	...

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