Makes Sense - with Dr. JC Doornick - He Turned His Employees Into Millionaires — At 93, Frank Stronach Explains How - E211

Episode Date: September 21, 2026

He built Magna International into one of the world's largest auto parts companies, with hundreds of factories and well over a hundred thousand employees. But the real story isn't the company's size. It's what he did with the profits. Instead of keeping them at the top, he split them with the people on the floor. Today's guest is Frank Stronach, founder of Magna and the mind behind the Economic Charter of Rights, the profit-sharing model that made it happen. We get into the handshake deal that started it all, why he walked away from a $40 billion company to go all in on farming and horse racing, and the succession plan he built so his own family's fortune doesn't end up like most family businesses do. Connect With Frank: IG: @officialfrankstronach Web: economiccharter.ca Book, The Greed Factor: amazon.com/dp/B08R7V792K Follow Dr. JC Doornick and the Makes Sense Academy:► Makes Sense Substack - https://drjcdoornick.substack.com ► Instagram: / drjcdoornick ► Substack: / drjcdoornick ►Facebook:  / makessensepodcast ►YouTube:  / drjcdoornick MAKES SENSE PODCAST Welcome to the Makes Sense with Dr. JC Doornick Podcast. This podcast explores topics that expand human consciousness and enhance performance. On the Makes Sense Podcast, we acknowledge that it's who you are that determines how well what you do works, and that perception is subjective and an acquired taste. When you change the way you look at things, the things you look at begin to change. Welcome to the uprising of the sleepwalking masses. Welcome to the Makes Sense with Dr. JC Doornick Podcast. SUBSCRIBE/RATE/REVIEW & SHARE our new podcast. FOLLOW Podcast: You will find a "Follow" button in the top right. This will enable the podcast software to alert you when a new episode launches each week. Apple: https://podcasts.apple.com/ca/podcast/makes-sense-with-dr-jc-doornick/id1730954168 Spotify: https://open.spotify.com/show/1WHfKWDDReMtrGFz4kkZs9?si=003780ca147c4aec Podcast Affiliates: Kwik Learning: Many people ask me where I get all these topics, which I've been covering for almost 15 years. I have learned to read nearly four times faster and retain information 10 times better with Kwik Learning. Learn how to learn and earn with Jim Kwik. Get his program at a special discount here: https://jimkwik.com/dragon OUR SPONSORS: Operly - Take Back Control of Your Work Day and Get Rid of All Your AI Apps - Welcome to the new world of Time Freedom and Unlimited Scaling and Success with Operly -  https://go.getoperly.ai/video?ref=jean-claude-claude-d-2a95 Blue Blinds Bakery - Handcrafted with all-natural ingredients - www.blueblindsbakery.com 0:00-0:57 Intro 0:57-2:57 Meeting Frank Stronach: From $200 to a Global Empire 2:57-4:30 Growing Up in Poverty During World War II 4:30-5:43 Learning the Trade: Tool and Die Training in Austria and Switzerland 5:43-9:13 How Magna Was Born: The Herman the German Story 9:13-13:35 Fate, Purpose, and a Life on University Boards 13:35-17:07 Beyond Money: Horses, Racetracks, and Finding Purpose 17:07-18:41 Capitalism, Bureaucracy, and the Case for Small Business 18:41-19:48 The Biggest Mistake Young Entrepreneurs Make 19:48-24:11 Leaving Magna, the Farming Venture, and a Family Dispute 24:11-25:25 Why Frank Cares About Others 25:25-26:39 The Wisest Business Decision He Ever Made 26:39-30:18 How Fair Enterprise Created Thousands of Millionaires 30:18-33:19 Advice for the Next Generation: Food, Population, and Peace 33:19-35:26 Legacy, Family, and the Future of Stronach International 35:26-36:21 What's Next, and Closing Thoughts 36:21-37:05 Outro Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

I always say it doesn't matter how smart you are. If there's a thousand or that line, things won't work. Have you noticed that the world that we live in has been doing most of the thinking for you? That your beliefs, perceptions, reactions, fears and doubts have been shaped by unsolicited outside noise? How easy it's been for you to slip into that default sleepwalking mode and label it as life and reality. Yeah, that ends here. Welcome to the Make Sense with Dr. J.C. podcast. This is your opportunity to start thinking for yourself, reclaim control, and step back into that role as the shock caller and dominant force of your own reality.

It's when you change the way that you look at things, that the things that you look at begin to change. So let's wake up, let's rise up, and let's make sense of why and how shift happens. Makes sense. What does it like to be frank these days? everything in life, I witnessed everything, seeing the lowest of the lows and the highest of the high. And you get to adjust, whatever it is you have to adjust and make the best out of it. Yeah. So would you say that your outlook on life now? Is it a good time to be Frank Stronick? I think it is. For the simple, let me give you a little background, right? I was born in Austria.

But anyway, I wanted to see the world and applied to South Africa, Australia, the United States, in Canada. In Canada, I came first through with the reasons, right? So when I arrived, I didn't know anybody, right? I arrived there in 1954 in Toronto. I'd $200 in my pocket, but I got a job reasonable soon. And there was a small tool in the high shop, and the owner said to me, Frank, you've done a great job. And what should you be a partner of mine? I just swallowed a little. It was a nice man, but he never wrote it down. So I said to myself, there's nothing to do it to run the business. I looked in the paper. I found a job. I got my double and I rented a small room. The toilets were out in the hallway on the showers. But anyway, three years later, I had $5,000

saved up. I rented like a small building, like a three-car garage and bought a few use machines. I went out hustling. I worked in a factory just and I said, they're very good in solving problems. And if I can't solve them, they don't have to pay me. Obviously, I solved some problems because after one once I hired somebody after a year, I hired 10 people after two years, 20. And you go then to evolutionary stages. One of the things I've done that, like I built from scratch a company from one employee by self to 180,000 employees worldwide. We've 430 factories in 34 different countries. So I've changed just about everything here. One question I have for you, if we go back to that time that you came over and took your first trip to Canada, is it?

Is it safe to say that you came from poverty? Yes, I grew up in. First of all, I grew up during the war, right? There were shortages left and right. And, yeah, I came from a working class family. My mother and my dad worked in effect. What I'd like to know from you, because that's what's so extraordinary. You obviously have some sort of unique superpowers or talents that maybe other people didn't.

So my question is, what did poverty teach you that coming from a wealthy family could not teach you? What Baba teaches you is, I think in life you should experience just about everything, right? There were times when I was hungry, not because I wanted to lose weight. I was hungry. I had no money to buy food. If you experienced that, that never leaves your soul, right? So I think it's experiences which I think which form you, right? Because I've always said life is a question of patent circumstances, being at the right places, at the right time with the right ingredients. During my growing up, I was six years old when World War II started, when the war ended, there was a dead.

So I experienced the Nazi regime. In hindsight, you would think, how can this system like that come together? Okay. And then we were occupied by the Russians, right? Even though my father was a communist and he deserted. When he was drafted to the German army, he deserted shortly after, right, to the Russians, right? Because he was a communist, right? I had him over here once, and I told him, look, socialism and communism doesn't work.

It's based on wealth, there's Dupuci. First, you got to create it. Would you take me to, when you started working, you had your first job, you got promoted and things like that, did you have any certain skill sets that you learned from your childhood that made you a successful person? Because I know that fate and timing and things like that had to do with this, but you must have been good at something to move through. Yes.

I grew up in a small down about 5,000 people. There was a factor. They actually quite a large factory for small down, a factor with a thousand people. And they had a toolmaking program, right? So I was three and a half years in that. And then I wanted to learn more. I went to Switzerland for another year and a half, right? And the Swiss, I think, first of all, they're a great nation through democracy

and incredible when it comes down to technology. So I went there for an hour and a half. I went back to Austria. Company robed me and they said they heard I was very good in a number of things. I worked as a former for a thing. But I wanted to, Austria was small for me then. I wanted to see more of the world. So I applied for visas, right?

Canada came first through with a visa. So how did this idea that ended up becoming Magna? How did that idea first come about? Because you said that you were the first employee and then you had 180,000 employees. What was the moment that you started to think globally and say, I think this company could be very big? Yes, those thoughts went to my mind. And I mentioned, I don't know when the sound kind of tapered off. But I started out to say, three years later, came in 1954.

And in 57s, I had $5,000 saved up. And I bought a small building. like a three-car garage and put a few used machines. And now they went hustling. I worked in the factories. And I said, I'm very good in solving problems. If you can't solve them, they don't have to pay me. So obviously, they solve problems.

Because after one month, I had an employee. After one year, I had 10 employees. After two years, I had 20 employees. And then you go through life in the end, there's evolutionary processes. I noticed my former was a little different, was a German fellow by the name of Herman's. I called Herman the German. I said, what's the matter with you lately?

I said to me, he was left. He said to me, Frank, I'm thinking of start my own business. I said, yeah, I can sympathize with that. I said, let's talk tomorrow. Maybe there's always a bad answer for something. Let's talk tomorrow. That evening I was talking to myself, and I said, if that form is going to leave me, that was stuff from my growth.

I didn't like that. The next reason I liked even less. That format's going to leave me. I can do all the work myself. I liked that less. My third reason was if I hire a foreman and they don't show him how a business is run, then after one year or two years he will leave. And if I don't show him, then I still get it all the way.

But anyway, to make a long story short, the next day I said to Herman, look, Herman, why don't you start up a new factory? You own one third? I own two thirds. It looked at me and said, do you mean it? I said, yes. We went right away to a lawyer, wrote down an agreement. And a few months later, we had the factory going.

The guy worked like crazy. That was his fact. He was so proud. So over the next five years, I repeated that five times, right? Similar deals, right? After five years, I had six factors. I started close to a billion. He wasn't just cash flow incredible.

When they became a little sentimental, I figured, gee, if I could do something for the workers do, so on. So I then transferred my private company at a public company, right? And after a few years, I put in a... an economic charter, right? The foremost principle was how do we allocate the profits? So I allocated 20% of the profits to the shareholders as a dividend, 10% of the profits to the workers, over the wages, 6% to management, 7% to research, 2% to charity. So when I put in this charter, after one year, our profits went up 40%, the second year, 100%, the third year, 200%. The third year, 200%.

The message I want to get across is if you let employees participate that they get a portion of the profits, release an energy of unto proportions, right? So that is really what it's all about, right? Society came a long way, right? From the caveman to the hunted and hunted, to the kings and to the servants, and what you now have here have bosses and unhappy and workers. That's the dilemma. Here's my question.

Was anyone else doing that at that time? Whether it was your competitors or any other big companies, was anyone else, I know we're going to get into what you call Fair Enterprise, but was anyone else doing that where they were putting employees in a position where they had a stake in the success of the company? Or was that just an idea that you had? It's difficult if you own something and they give away all of a sudden, right? I think life is a question of fate and circumstances, right? Being at the right places, at the right time, with the right experiences. So everything is a little different, right? So I'm not a nobody religious person, right, because I'm saying a worm was a woman a million years ago, a snake was a million years ago.

I'm not looking down on a snake or a worm because they're part of the universe, right? Every time you step on a purpose on a worm or kill it, where you're adding up to the destruction of the universe. I'm just saying it is only Homo sapiens has advanced, right, to such a degree, right? And I believe in a higher being. When you look at all the oceans, the mountains, the mountains, and everything, it's just amazing.

I've got great respect for nature. So are you saying that this was just your own nature, the idea of? I think so because it's difficult, right? Because I've been on a board of 80 universities, right? I gave lectures from Harvard right across the states, right across Canada, great across Europe, And yes, so I wasn't, I wasn't a board of directors. So sometimes you got look in the mirror, especially when I get older, right? When we're young, we all hustle a bit to make some monies.

When we get older, then we say, what's the purpose of life? I think you need a purpose in life, right? And so when I analyzed, when I looked in the mirror, I said, Frank, you've been missing a lot. I wasn't innovative when I wasn't a board of directors. It's just a unusual thing. So when I look at universities now, what is the mandate of a university? The mandate of a university is to teach young people how can we have a more civilized society. Or even more, universities have great faculties in regards to medicine, technology, the arts, very little on humanity.

What would be the structure which would lead to an ideal society if there's no structure, right? There are no structures. Okay, so this is the problem we have in, and I consider my very self-fortunate that I witnessed or came in to certain. situations, we had to do things, and they basically worked out all right. It's fascinating. You're very much a pioneer of sorts. I don't know much about that error, but there was a little bit of an industrial explosion going on, but you were going in a completely different path. I would assume people thought you were crazy. When you look at the wall, you do well, and I think you need a purpose, right? I feel a half a purpose.

When we look at our DAC system, right? United States DAX, DARS code was about 20 pages 100 years ago, and I wrote a book, the question of all questions, right, where do we come from, where do we go? And they quote a Ronald Reagan, right? When he got elected president, he had a piece of paper there and said, we have a tax system which is so confoluted. So he read a few tags, a paragraph, and it's so confoluted that now the United States is about 70,000 pages and still, the paragraphs are still in there.

So basically the serious part now is. we basically get two economic systems kind of rising. You have China and Russia. They have the communistic base right there, right? And the United States and Canada, we have the capitalistic system, right? But every day there's less capitalists. And in nature, when a species does not reproduce itself and other species grow up there that's right.

So the capitalistic species does not reproduce itself. So if we look down 50, 100 years down the road, you might have maybe 50 capitalists which control the world. Do we want a thing like that? I don't think so, right? We say, look, we must everything we can to preserve the capitalistic system. But we must harness it when they grow larger. When they grew larger than 300, then I think capitalism needs harnessing. Okay, then you've got to share the profits with the employees. You mentioned before about having a purpose.

What would you say your driving force and purpose is? You're a guy that's not like you need money or anything like that. I was, for instance, with the largest city land in America for many years. I was leading in the world. Many years ago, I started to buy racetracks, right? I practically built all the racetracks. Golden Gates and the Nied, Koffstein Park. Yeah.

And again, I got in by accidents, right? The first five years, I worked like crazy. Seven days a week, 12 hours every day. After five years, I never had to war anymore. Did I ever go hungry? I said, oh, I said, Frank, you got to get back in the nature, right? Because what I've done was so much technology.

So I looked in the papers and I figured how should they connect with nature? So I thought a lot of soul such. I came to the conclusion. I should connect with buses. Because horses are men's best friend. They blow out the fields. They done incredible things. We are not really taking greatly care of that.

How would you call people which don't take care of their friends, right? And those were our best friends, right? I put maybe the largest bronze sculpture in the world, right? It's a hundred and ten feet tall and three hundred feet long. It's a pegasus horse fighting a dragon. Basically, you know, as the Muslims flock to Mecca, as the Jewish people flock to the whaling wall, as the Catholics flocked around.

I wanted to have the horse floggers. I'd have to host in the park, and there I built something to honor the horses, right? Basically, the meaning is we as people have to make decisions every day. And we've always been influenced by the good spirits and bad spirits. Is it right or wrong? Is it good or bad? It's a constructive or destructive constantly.

Some might be small, some might be big. I've always said I've been blessed with a good mind and good health. About a month, I'm going to be 94 years old, young. Wow. I've been very blessed, but I've always said, it doesn't matter how smart you are. If the stars are not aligned, things won't work. So I'm sometimes saying it seems I've always been at the right places at the right time.

The world has always been dominated by the golden rule. The people which have the gold make the rules. I want to wake people up and say, look, without workers, we can't make a profit. If we do not let workers participate in the capitalistic system that they are part of baking the economic buy, everybody would get a bigger slice. But if we don't do that, then the communistic system will take over. Okay, so we have to prevent that because freedom is it, chapities. And people gave the lives for freedom, right? I know when they came up, I wrote a column for the largest newspaper here.

And what you read in the papers, you really read about the problems, right? But when I started the first year, I wrote what the problems are, then I started to write, what are the solutions? I knew I will be winding up with some poison errors. But I waited till I had a certain years, a certain age. Do I like it? Of course, I don't like it. But I have a conscience.

I would like myself less if I wouldn't have followed. I've always said to people, especially when I give lectures, to the young people, focus on the day to stay alive, but leave that door open for tomorrow and follow your dreams. Fantastic. What I'm thinking right now, and I'd love to hear what you have to say, what would the world look like if the Fortune 500 companies that are out there adopted your philosophy and strategy? We were quite so many capitalists. We got to look in nature. When an animal does not reproduce itself, another animal will take over. The laws of nature.

much stronger than any man-made law. If we do that, we will create so many capitalists and the capitalists would make more monies. That's the interesting part about it. So it wanted this world's true for the States as well as for Canada. We need a wake-up, right? Capitalist needs harnessing, but we should not destroy it.

Leave it alone. The three companies, let the entrepreneurs, let the small companies stay, were all the backbone. But the small companies get wiped up by the bureaucracy. because we deducted so much bureaucracy now, so many regulations. Fifty years ago, when the first computers came on the market, the slogan was, if you got one of those computers,

you could eliminate five office flow in the highest-rise office building. Now, when they look around in the cities, New York, any city, Washington, or Toronto, Montreal, there's 20 times for office buildings. What do you think they're doing there? They don't make any products. It's all regulations, regulations. We have regulators which regulate regulators. We got to reduce that, not with a chain zone, okay, because we're all a little bit to playing for it.

We can only change the system if we do it's civilized. Wow. Frank, what would you say is the biggest mistake as far as you can see? Because I know you mentor a lot of people. What is the biggest mistake that young entrepreneurs make while they're trying to become wealthy? Basically, like I said, I've given a lot of lectures in the university, be entrepreneurs, etc. First of all, you've got a, what I tell them, I said, try to work in like, you know, I gave a lot of lectures.

I always told the students when I started, I said, the success of life can only be measured, the degree of happiness you reach. But I said, let me tell you from my experience, it's a lot easier to be happy if you got some monies. So the smart students would always ask, well, what would your advice? How can we make some money? I said, look, when you be 20, around 20, you don't know yourself. Experiment a bit.

Do a number of things and find out way. you have an affinity for something. And if you have an affinity for something, then you like something. And if you put in the extra effort, he or she could be the best, whatever it is. If it be one of the best, then money is a fiber attack. That's amazing. That's the very key to young people. I would assume that, you know, it wasn't all a perfect path, even though you experience explosive growth.

Did you ever almost lose everything? Like, tell me about, like, the darkest business season you had. Yeah, I think it was over-civilized. I'd made one mistake. I left Magne in 2015, right? I left. When Magnet did about 40 billion in sales, absolute no debt. We had two billion cash in the bank. Wow. So I stepped out. You know, when they looked at the world, and I said when I looked at the mirror and I said, Frank, you've been missing a lot, right? So I thought I won't be more connecting with nature. And, you know, I said maybe I should grow food, right?

So I went very large in the farming, very large, right? So when I went there, there, you know, I could see this huge chemical jungle, right? 95% of the food eaten in the United States and Canada comes from industrial farms. And industrial farms, you see, no more eagles fly away. There's no more rapids. There's no more pheasants. We spray so much fungi side and pesticide. We kill everything here, right?

All the kids have allergies, stage two diabetics, is otherwise. But anyway, as I got in there, as I connected with nature, and I fell in love with horses, and I said we had not really treated horses when I built this great horse park and when they had all the race tracks, I came worried, I said, holy smoke, there's another one. I could become the largest company in the world, right? I saw sports be gaming coming up. And because we developed computers with gaming, racing, right? One computer could do maybe a thousand transactions within a second, right?

So I had everything lined up to be the largest company in the world, let's say, about 400 billion. And then I took a lawyer along, you know, from thing. I didn't know them that well. Fewer when I was 80, I did. and they stayed planning. My wife died two years ago. By that time, I allocated one-third to her. I got two kids, one-third to my daughter and one-third to my son.

The lawyer started to realize that I wasn't a kid on him. So he worked on my daughter, right? Because I was always, I think it was always maybe years ahead, right? You know, maybe tough to follow. So I really thought. He worked at her, the name is Belinda. He said, Belinda, you should run the company. So in hindsight, I don't really blame with that thing.

I got good relations again. That may be the appearance that I weigh out of whack, right? But then I looked at tang, though, maybe the good Lord may be more familiar with the economic charges of rights, more important than being the largest company in the world. Because I would have had less time to spend. Right now, I spend a lot of time. What do we have to do?

The United States and Canada winds up with an economic chart of rights. It makes so much common sense, right? Because if you let the workers participate, you make more monies, everybody makes more monies. We got to have that wake up if we don't. Like the inner cities have so much poverty, right? The brick is the track with a triple ground. The brick is his health, right? The track is called Bimriko, right?

Across from the road is a middle-class Jewish community. A cross behind the race drag. I've never seen a black poverty. did so run down, you know. We had a lot of black security guards right at the racetrack. I said, look, I want to meet the black neighborhood leaders back there. So I went back with them. So I met them and I saw this rundown, practically destroyed high school.

I said, look, if you want to, with your help, I built it a most modern technical trade school. They were a little skeptical. Two years later when we opened the school, some had tears in the eyes. We teach their young people how to be leaders, technology, how to be leaders, technology, how to lead people, et cetera. Great people come out at that thing. I'm very proud of that. So I've done many, many great things.

When Hurricane Katrina run through Duolines, you know, I put immediately a great crew down. We built 200 houses within three months to house to take here. And they had a racetrack, which in the summertime with Floyd, I housed about 500 Hurricane, Tengere and the race track. We had to understand. Frank, why do you care so much about other people in a world where everybody just cares about themselves? Well, you've got to think about that, right?

Look, I don't want to be rich in here for your arms, et cetera, et cetera. What kind of life is that, right? I think we could come to a higher plateau, right, when we start to think a bit, right? You make more money as if you would share the thing with the workers, because in their mind, you get their mind to get going like. crazy, right? If they're there on the front line, they know how to make things better. We got to think in those terms, right? Because, look, years ago, you know, when they had kings in Europe and all over, everybody tried to flock to America, you know, the land of freedom, right? We're shrinking now. We deal with bureaucracy and things. So we got to get a bit back. And we got to think in those

terms, right? If you don't, the dangers are the poverty will increase so, right? because in the final analysis, if people have to make a choice to stay alive or have a political system with freedom, they go for the food, they go to still the hunger. What would you say is the smartest, wisest decision that you ever made in business that created or produced the most extraordinary return that a lot of people might not know about? The wisest decision I weighed, again, in circumstance, when my foreman wanted to open up his own factory, right? when they said to him, look, let's put one together. We're on the third on that thing here, right? That was maybe the wisest decision. And then I've done the same thing, and then we put in a hotline, you know,

when you have 180,000, every day I went to work, he asked myself, what do I have to do that workers respect me, okay? If you're not, if you haven't got happy workers, you can never build a factory. I would have so many things here, right? So have we had hotlines, workers could call if something wasn't right, You know, by the way, one third of our labor was we had over 60,000 women employed, right? So they could call hotline if something isn't right, and we had labor investigators, right, and corrected things, right? So that's the share of profits and have a hotline that they can flush out because you got to need happy employees.

That's so true. Now, I want to pick this apart. You've said, and I've looked this up, that you've literally created thousands of millionaires. Walk me through the mechanics of that. Like, how did you accomplish that? Was that by giving dividends out or empowering people? There's three parts. One, to share the profits.

One, the great headlines to make sure they've got happy, happy workers. And the other one was I run a decentralized company, right? I gave them the opportunity when they saw an advantage, they could run under the corporate umbrella, big big company. If it's a disadvantage, they could stay outside. I had managers come to me and say, Frank, I want to make more monies. I said, well, it's nice to hear. There's no problem.

Well, you have to be smart. You make more money. Well, he said, you're stifling me. You don't let me have more than 300 employees. I said, you're not listening. If it's not smart, you make more. So finally you have to tell them, look, groom your assistant manager to become the manager, replace yourself and get your cut off the first factory, and they give it the monies to build a new factory.

I had managed to replace themselves 10 or 15 times. They paid the 10 million a year, 15 million. Yes, you give people the freedom, right? The very large companies, people become a number. Yes, we had maybe two or three factors with a few thousand employees, but over 400 factors were less than 300 employees. Because, again, if you got a large factory, you have got a problem, you've got a large problem.

If we got a small factory, you got a problem. There's more problem. Makes sense, right? My great worries is now we're getting away from economic sense. So I've created a greater organization, the new wave of common sense business. AI will never outdo common sense. Okay, the final analysis is you're going to have common sense. You can't grow tomatoes if you haven't got common sense.

So common sense is worried. But we're getting away more and more. You see, there's a little hope now for the younger generation. right, go to universities. We got to take a look. We got to free our small companies. We got to remote them. Small companies should not pay a business tax. When they grow, they buy equipment. They hire employees. The employees pay the income tax. Governments make more money as if the employees get paid well. That's the way we got to go. Small business was the backbone. But large business doesn't like small business because they were competitive. Large business has, they can

communicate better with the bureaucrats, right? Much companies, they want to have monopolies. Monoplies are bad. Might that be a private monopoly or a state monopoly? We got to reduce that. Most of all, we got to promote, you know. Let's three small companies, free and from government regulators,

smart businesses regulated themselves for hundreds of years. They had trade councils, you know, for the companies, for the trade, all the way around, right? So we got to get the regulations. small business can regulate itself. We got to sit small business free. Wow. It's so important, right? You know, when we look back about 50 years ago, Walsford was pushing business. You gotta make more profits. You're gonna make more profits. You're pushing higher wages. So what their business do? They all went to China.

And now, you know, so great thing that don't stop that. They said, no more shipping under the United States. We gotta do things ourselves here. The greatest thing he did. But we gotta get small companies, we got to set them free. Let the entrepreneur make 50 a million. They should be an example for the young people, right? What you can do. Yeah. Let me ask you a question. If you had the opportunity to mentor, you know, yourself or somebody else that was half your age or younger. So let's say, you know, 50 or younger, obviously you would share your own philosophies, but what industries would you recommend that they enter? And what skills would you recommend? men that they mastered? Well, it's when we look, I mentioned earlier on, the food we eat here

comes 95% from industrial farms, right? So one of the great problems, there's two great problems right, of what the world's facing. One is population growth, because we're over $8 billion now. If you keep on that, they wouldn't take as long to get to maybe $16 billion, right? So the population growth, because the soil is not. It is... be deluded, right? You take food to grow. So that's very important. And then, how can we prevent a world war, right? Okay, a major war, right? The man. And the final analysis, China doesn't want to be dictator by the United States, and the United States doesn't want to be dictated by the China, right? So how can we find a thing here? And I'm coming back and say, look, let's call on the Olympians.

they would be willing, let's say we kept five peace centers, right, in the world, one in Washington, one in Beijing, one in Moscow, one in London, and one in Israel, right? Okay, we are a group of former Olympians go there, right? Because when the Olympians were, they were all friendly, right? They all respected each another, they competed, right? I said, in any host city, let's say if it's Washington, five would be Americans, right? 20 would be from different countries, right? And they will say, what can we do to avoid and avoid the domination, right? Well, that is a very, very fascinating idea. I wish that I thought of it first.

The food would be a food to go into the food business, especially in the organic and especially, you know, because, you know, the foremost doctor, right? Hundreds of years ago, called hypocrisus. His saying was, let food be your medicine, and medicine is your food. So I think here we got a, you know, we got to put a great marketing. The government got to put a great marketing program to the young people. That growing food is cool. Feeding hungry is cool, right? It should be the coolest thing, the most noblest thing.

A lot of people go hungry. Nobody should go hungry in America or Canada. That's another question, right? The army, what is the army there for? Yeah, vying fighters, vying hurricanes fighting, but they could have soup kitchens, right? So fascinating. And I think the biggest challenge is waking people up to all these things that they probably know. So let me ask you a question. This is my last question. I want to ask you regards of legacies. So just imagine your grandchildren's grandchildren and entrepreneurs 100 years ago are learning your story.

maybe they're even watching this interview. What is the one lesson that you hope survives you, meaning that you leave behind as your footprint and your legacy? First of all, somebody asked me, what would you like to see on your gravestone? I said, Strontag was a good mention. I've graded, you see, family business, usually after one or two generations, they fall apart. They got grandchildren, they got dang, he got lawyers and say, well, this section, you get enough, This is fair and all of, they're all in legal masses, right? So what I've done, I took care of my grandchildren, right, and of my children. And I created a new company.

I split away, right? I created a new company, Stronach International. I'm the only shareholder, but I gave my shares to a board of director. So I can change a few little things more, but most of it, the dais cast, right, for the future. Basically, if you leave your grandchildren with enough that they wouldn't have worried to get hungry, then that's enough, huh? Where you invest in good ideas? There's lots of things where you do, huh? And the entrepreneurial spirit would be more advanced, right?

The 50% of Stronach International will go, 5%. They get three grandchildren. If they get five, but just the profits, no share ownership. I was for many years on NASDAQ at the corporate governance, right? So I'm very familiar with what the market works, right? And I saw my minority shareholders. So I'm the only shareholder. So my country only get 5% each of the profits.

The workers in management get 20% of the profits. And 10% goes to charity and 55% is reinvested. Every five years, the oldest directors has to resign. You always get in new blood. That's a wonderful, wonderful plan that I hope gets duplicated. What is next for Frank Stront? Did you say you have a new book coming out? No, I just wrote a new book. I will send it to you. This explains the economic charter. Right. The growth of small business, et cetera, et cetera. Yeah, it's everything in there to get a,

I think we could get on the higher plateau. That's awesome. Well, Frank, first of all, thank you so much for taking the time to be here. I think that we should, maybe when you're 96 or 95, we'll have you back on the show. And I want to tell you that at almost 94 years old, you are better speakers, sharper and wiser than a lot of people I've had on this show that are half your age. So you still got it. You still got it. I've been blessed. Yeah. Well, thanks so much for being on the show. I look forward to listening back to this. This is Frank Strontak, and this podcast made sense. That's it for today. To support the Make Sense with Dr. J.C. podcast, be sure to subscribe, like, and share, as well as follow the Make Sense substack for free daily quotes, live streams, and blogs.

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