"I Got Rich When I Understood This" | Billionaire Advice (0 to 3 Billion)
Dropping Bombs
Brad Lea
4.8 • 2.3K Ratings
🗓️ 25 June 2025
⏱️ 64 minutes
🧾️ Download transcript
Summary
Frank Stronach, founder of Magna International, shares the powerful story of how he built one of the world's largest auto parts companies from a small tool and die shop. In this eye-opening conversation, he reveals the principles behind his success—profit sharing with employees, economic charters of rights, and fostering leadership through decentralization. Learn about his vision for eliminating poverty through entrepreneurship and his new mission with the Stronach Academy for Entrepreneurship. A masterclass in ethical capitalism and transformative leadership you won't want to miss.
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Transcript
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| 0:00.0 | This man built one of the largest auto parts companies in the world, Magna International, |
| 0:06.0 | starting from a small tool and dye shop with just a handful of employees |
| 0:10.0 | and turned it into a multi-billion dollar global powerhouse, |
| 0:14.0 | a man who's not only shaped industries but influenced countries |
| 0:18.0 | with his ideas on economics, innovation, and integrity. |
| 0:22.1 | Frank Strannick is here. |
| 0:26.2 | Thanks for coming. Thanks for doing this. |
| 0:28.5 | Yeah, well, it's when I get the message across. |
| 0:31.0 | You know, when we are hustled a bit to make some money so we can live in dignity. |
| 0:39.3 | When you get a little older, you sit back and sometimes you ask yourself, |
| 0:43.6 | what's this all about? |
| 0:44.7 | What's the purpose of life, et cetera, et cetera. |
| 0:47.9 | So I did the same thing. |
| 0:50.8 | I should say I gave lectures right across America from Harvard, |
| 0:58.2 | right across America, right across Canada, right across Europe, right? And I was on a board |
| 1:04.2 | on quite on a number of universities. So in the last 10 years, I started to question myself. |
| 1:11.6 | Well, I started to question the system. |
| 1:14.6 | What is the mandate of a university? |
| 1:16.6 | Well, the mandate of a university should be to teach young people. |
| 1:21.6 | How can we have a more civilized society? |
| 1:25.6 | To be more specific, universities would be the ideal institution |
| 1:31.5 | where we're looking for structures, which would lead to an ideal society. |
... |
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