The Legacy Of Frank Stronach | BILLIONAIRE BUSINESSMAN | Full Documentary

This is the story about the ultimate sacrifice of a billionaire. Frank Stronach's life is a rags to riches story. A struggling tool and die maker landing in Canada from Austria at 21, building a multi-billion dollar empire that began in his garage and is now Magna International. Well the number one priority is first of all to sort out the priorities and secondly I think employees play a very important part in the business. So you got to make sure that the employees are happy so they not only work hard but they also think. Is there heart in it? That's very key. I think his biggest legacy will be creating a structure and a culture in a company that allows it to grow organically and not become so top heavy and controlling that the people in the company don't feel part of it. He has a good understanding of people and what motivates people. He you know says look using common sense what would motivate me? You know the Magna culture right? Nobody works for me. You people work with me. I'm working for you. I was born in Austria right and I wanted to see the world. I had a great philosophy so I applied for a visa to South Africa, Australia and the United States and Canada and Canada came first through with the visa right? The whole life is a question of fate and circumstances. Being at the right places at the right time lots of things can happen. So I wound up in Canada and sometimes a little tough on the bureaucracy especially the Canadian bureaucracy but I still think that the best bureaucrats they came first through with the visa. Frank Stronach was born on September 6, 1932 in Klein-Semmering, Austria. Growing up in a modest and humble family he developed a strong work ethic early in life. At 14 Frank began an apprenticeship as a toil and dye maker. It laid the foundation for his future career. In 1954 at the age of 22 Stronach immigrated to Canada with little money but an immense determination and a desire to succeed. When I landed in Canada things were very tough. I didn't know anybody, had a small suitcase, 200 bucks in my pocket and I was walking the streets to find a job and it was very tough at the time and there were days when I was hungry. Hungry not because I wanted to lose weight. I was hungry, I had no money to buy food. So those leave a great impression but life's been extremely great to me. I did find a job then in my profession. I'm a toil and dye maker by trade and after two years I had a little money saved up, rented a small garage and out I went hustling. I said I'm pretty good at solving problems. If I can't solve them they don't have to pay me. So I got some orders. After one month I hired somebody. After two years I had about 10 people. After 20, after two years I had about 40 people and a magnetic company. I started from scratch. Employees now about 135,000 people and about 35 billion in sales. I like Canada a lot and I spend also a lot of time in the States and I really admire and I think America is great but anyway this great philosopher always said he's a great believer in luck. The harder he works the more luck he has but going back to America especially the last 10 years I spent a lot of time here. It's a great, great, great country. It's the last country where I think the free enterprise system maybe it's got a chance to survive, maybe. It's got one major problem. The free enterprise system basically is the foundation for a free society. Without free enterprise we can't have a free society but it's got a major problem. More and more capital is held by fewer and fewer people. What that means we have less and less capitalists. In nature when you got a species which does not reproduce itself another species will take over hand. Something to think about it, something to worry about it and that's what I always preach. I always try to get across and that's the way I built Magna. We have to realize business is driven by three forces. Good management, capital and workers. I've always said workers have a moral right to some of the profits to help to generate. In essence I would like to see a law which would be passed on a national level which will guarantee the workers a certain percentage of the profits because we got to make capitalists out of them. That's the only way the free enterprise system will survive. Magna is really more than a business. We call it the fair enterprise business. It's a little step further than the free enterprise. The basic philosophy is the human charter of rights alone is not sufficient. We have to fortify it with economic charters of rights. Economic charters of rights would lead to economic democracies and economic democracies are the basis for democracy itself. He has a good understanding of people and what motivates people. He says, look, using common sense, what would motivate me? You know the Magna culture, right? Nobody works for me. You people work with me. I'm working for you. The roots of the Magna culture began when Frank introduced a profit-sharing plan in his factories. He calls it fair enterprise. Wall Street calls it Frank Stronach's success formula. The history of mankind has always been dominated by the golden rule. Here's the gold makes the rule. But I don't want to be dominated by anyone. If I feel that strong, I should not be able to dominate somebody either. And that's why Frank created a corporate constitution and an employees charter that are unique in the world of business. He really is a true entrepreneur. And he's always thinking about how do you get the best out of people? How do you motivate them and include them so that everybody's working in the same direction? And that's really what has made Magna great. The unique thing about Frank Stronach and Magna is their commitment to activist social responsibility. You can't just be thinking about stuff. You got to do it. Frank's philosophy always has been very simple. He says, make a better product for a better price. Magna has been known for a lot of different things. One I'd say would be excellence in manufacturing, starting with excellence in tooling. But Magna has also been known for a lot of really innovative products. The stow-and-go seat for Chrysler was a Magna brainchild. The child seat was another one. But I think his biggest legacy will be creating a structure and a culture in a company that allows it to grow organically and not become so top-heavy and controlling that the people in the company don't feel part of it. The idea of the decentralized structure where your managers weren't working for you, they were your partner because they all had equity in the company. That was way, way ahead of its time. Frank doesn't think of himself any different than anybody. If we go into a plant, he'll go eat in the cafeteria. He talks to people. He sees everybody as equal. Everybody has an equal opportunity to succeed. Everybody has an equal opportunity to work hard. I think his example of always trying to cause people to be sensitive to what's around them is one of the core reasons why I think Magna is celebrated as one of the greatest corporations in the world today. Part of Frank's philosophy in the corporate constitution was we would give away a predetermined portion of our profits to charity. There was one example where Hurricane Katrina occurred and over the weekend, he thought a good solution would be to take people in that affected area, not just give money, but also give time and effort. Frank Stronach saw people drowning in New Orleans, picked up the phone and said, get a Magna plane, get some people, go to New Orleans, get 400 people, take them from New Orleans over to Florida where we have a training facility, dormitories. Then I want you to go back, buy 1,000 acres of land, and we have to build a village within 120 days to house those people and we're going to make a commitment for five years. I personally think it was Frank's finest hour. He's not wondering what's going to happen or the process. In his mind, he sees the end state and he's just going to go for it because he believes in it that passionately. And I think when you have that deep of belief and that deep of passion in something, you can accomplish a lot. The Magna accomplishment cannot be debated. Not only is he a visionary in the automotive industry, but it's too bad we didn't have more Frank Stronachs in the world because the whole world would be a much better place. Billionaire auto parts tycoon Frank Stronach gives it all up to become king of the sport of kings. It is reported he spent over $50 million on his Pegasus statue that graces Gulfstream Park in South Florida, immortalizing his love for the sport. Second only to the Statue of Liberty as the largest statue in the United States. Frank built the iconic Pegasus and Dragon Bronze Monument to honor the enormous contributions that horses have made to human civilization. It is a shrine where horse lovers can pay tribute to the majestic horse and reflect on the instrumental role horses have played in so many fields of human endeavor, of the struggles between the forces of good and evil, forces that have shaped human history and continue to influence our own personal lives as we wrestle with the issues of good and bad, right and wrong. Pegasus and Dragon challenges us to seek good over evil and calls on all of us to ensure that goodness can always prevail. I worked like crazy, you know, when I was in the automobile industry and after five years I had a little money in the bank. I said to myself, it should be nice now to take weekends off and I'd like to see cowboy movies, John Wayne, etc., to ride out in the sunsets. I looked in the papers, riding horses for sale. I went to the first farm and bought the first I saw and I was riding the same afternoon and I really fell in love. It was great. Then I bought a farm and then I bought a racehorse after a while. So it was exciting. I'd like to provide the people which love horses and love to go to the racetrack a great opportunity that it could be a family affair, right. Sometimes I remember I have two kids. When my kids were smaller, they said nothing to do with the racetrack, right. So thereby I wanted to have a shopping mall next to it and we're planning and started on a family entertainment park centered around horses. To me, I let everybody else do their own thing. I have certain visions or certain ideas that best suit those and I think racing should be or going to a racetrack should be a family affair and sometimes kids get a little bored, right. They want to have changing scenes. So there's something to do for everybody, right. So that's the whole idea behind. Horses provided such a great service to mankind and I think we should be thankful about it. Just take America. What would the West be without horses, right? Okay. So and over and above, horses are very beautiful creatures, animals and I think especially young girls, they really love horses and I have to admit, I also like horses and so I want to make sure that horses play a major role in society. People are interested to whether the horses come from the evolution of the horse, etc. and I think people have to be reminded sometimes that horses did play a great role in the civilization of mankind. I get asked many times, how come Pegasus? How come that big race, etc, etc? First of all, you know, I'm fortunate to have bought this racetrack many years ago and we redid it so the next thought was, gee, it'd be nice to get a family entertainment park so I looked in the books and I bought about every horse book and so on and maybe I could find an interesting horse or some horse stories. So anyway, in the final analysis, I decided maybe Pegasus would be a great icon. Pegasus is a mythical horse, right? From a mythical story from Greece and the Pegasus, the sculpture is where the Pegasus fights a dragon. So the idea is the world has always been influenced by good spirits and bad spirits, right? The good spirits is the horse, the dragon is the bad spirit. But basically, what I wanted to do is, horses provided such a great service to mankind and I think we should do more to recognize and say a thank you to horses, you know, because where would America be the rest? All the way around, right? Horses, many years ago, they ploughed the fields, you know, they've done so many, many things. And so they provided a great service to the human race and I think it should be recognized that we shouldn't forget them and we got to make sure that there always will be horses around. I would like to see that in every city, there's maybe two or three horse places which are open to the public, where they could see the horses out in the fields and admire the horses and maybe pet them or give them their carrot, right? All in all, I think we want to make things exciting and I'm saying, look, why wouldn't horse racing at least be more popular than car racing or any other sport? So I think this is to tell the world of horse lovers and people involved with horse achieve, we can do great things if you work together. You know, from Australia, South Africa, Europe, we just got to think, you know, what we could do if we band together and come up with some great ideas. But anyway, thank you for coming and I think the draw is, and again, what makes it so great, horse racing, we know a very good horse which will win and we have two very good horses in Aragoda in California, Rome. Very good horses will win when they got no bad luck and good horses, and there's a lot of good horses in there, they could win if they got some good luck. The one thing we want, I want to wish everyone participating, all the horses, all the jockeys, that they all have good luck and let it be a great horse race. So anyway, are you guys ready for the draw? Okay, thank you. Well, the world never stands still. It's a constant evolutionary process. And again, even though we revere horses and hopefully the horses don't change because they're just beautiful to look at. But that doesn't mean that the technology around it, that we couldn't improve that and make sort of the gaming experience a little more exciting. And horses, you know, I think we as people, we all pull on with a bit of a gaming instinct. When you get up in the morning, life's a gamble, right? Everybody is trying to create a better life, right? And being involved in things and you got to take a little chance. So everything, if you apply for a new job, you want to better yourself, but it's a chance to get along with the people that run the company. So it's an ongoing chance. It's an ongoing gamble. And horses is the most natural. It's the oldest form of gaming. And when you go back to the kings and to the tribesmen, they always say, my horse is faster than yours. And so gaming started. To gamble on horses, that's the most natural form. And over and above, I think it's great too. When you take casinos and we take lotteries, I think, as far as I'm concerned, that's a taxation of the poor. But horse racing, it preserves a lot of green space because horses are very happy if they come around in the meadows and there's a lot, a lot of people involved. What a lot of people don't realize, there is, in the horse industry, there is 1,400,000 people involved in the horse industry. And the economic impact is 39 billion direct and 100 billion indirect. So horses, the economic impact or the economic factor on the economy in America, horses do still play a great role. In 1960, Frank bought his first horse. And today he's one of the world's leading thoroughbred owners. Frank, you and Magna have created so many jobs for people around the world and in the process have enriched so very many communities. I'm proud to know you. I'm proud of our friendship. I'm proud of the vision you've displayed throughout your business careers. In 1995, Frank was inducted into the Canadian Business Hall of Fame. In 1998, his horse, Austin, again, won the Super Bowl of Horse Racing, the Breeders' Cup. In 1999, he was awarded the Order of Canada. In 2004, he donated $8 million to the local hospital for Aurora and Newmarket, Ontario. And once again, won the Breeders' Cup with Ghost Zapper. Ghost Zapper. On the inside, free for internet, backs off him. And Aziri. In 2004. The key is people want to see exciting races, might it be a car race, a foot race, a bicycle race. So I think people like to see the best horses run and like to watch them. And if you offer enough of a price, you will attract the best horses. So that's the reason behind. Like when you have big races, there's also people like to bet on it. And obviously, he was a bit of an outsider because he paid a fairly high price. So people didn't see that coming. But that's the great thing about horse racing. Money alone doesn't buy you a winner. Still a little bit of luck involved. But I think when you analyze and do the research, there's many indications what you should do or what you should bet. But still, it needs a little bit of luck here. And that's what makes it great. Even on the horses I have, the ones which cost less money, I seem to be luckier than the ones where I lay out a lot of money. So it could also mean that a person with modest means or not too much money could wind up with a great, great racehorse. So that's what makes horse racing so exciting. Well, I'm not so sure if the king of horse racing, I think you've got to earn that over the years. And usually, while you're alive, I think you want to be very careful to draw around titles. But I do hope that one of those days that people which love horses, they would say, I think Frank Stranach made a great contribution to horse racing. I hope that will take place one of those days. There will always be variations. The world doesn't stand still. There'll be constantly new technologies. And we will assess it as we go along and say, what can we do to make racing exciting? And on a worldwide basis, because the technology is on the end now, you could bet from Tokyo, from London, on our horse races here. So it's an ongoing process. We will look, how can we bring horse racing to the public, to people in a very exciting way? We have to change a few things. We got to be as racetrack owners. We got to consolidate. How can we make it pleasant for people? And somehow, we have neglected a bit to make it exciting for young people. But we are well on the way now. And my daughter is heavily involved now. And I think if I said, Belinda, you're a young lady. She likes that. So she's thinking very hard. And to think of ways to attract young people. I come to Gulfstream Park. I used to be terrified of following Acacia Courtney. Now I'm terrified of following Craig Furbell. 2019 was a hell of a year. And fortunately, we have Johnny Sachs here. So I won't recap all of 2019. But I'm extraordinarily grateful to the team that I work with. And even as the challenges became greater and greater throughout the year, we had people join the team. And that speaks a great deal to what we stand for. Because everyone that has joined the team in recent years, I believe, did so because they see a positive vision for our sport. And they're extraordinarily committed to doing the right thing. To making sure that each and every day we go to work, we evaluate things and how can we do things better. And collectively, I believe that we can create modern, sustainable, safe horse racing. But we can only do that together. And we've had tremendous, I would say, dialogue recently with our industry partners, with other companies, where we're looking to create a level playing field for the benefit of all stakeholders, including at the center of it all, horses and horse safety. So I'm extremely grateful to the team that I work with. And each and every day I get to come to work with you all. It's a great honor. And on another note, I have to give this team a tremendous amount of credit as well. When we looked to Evolving Pegasus, and Pegasus is a great platform for us to try things and for innovation, they said to me, you know, we can do it. We can try and we can run medication-free races. So I got to give you guys a lot of credit. And I'm extraordinarily proud of the hard work that's gone into this weekend. And I have to give Mr. Mandela a lot of credit for his leadership and horsemanship. You know, we all wanted to see Omaha Beach race, but he did the right thing and put the interests of Omaha Beach first. So thank you, Mr. Mandela. So we're going to have a great weekend. Thank you, Run Happy. I think that's the perfect tone for the weekend ahead. And I thank you all for being here tonight. I thank you all for remaining committed to our sport. And I thank you all for wanting to make our sport better yet. Thank you. I did say that my passion is horses. And I have two kids. I have a daughter which runs, call it the horse industry or the race tracks. But I also have a son. And he was very helpful, right? Because his passion is also horses. And he made a great contribution that we had great horses because he was a genius picking the bloodlines, which bloodlines will give you great racehorses. I think he deserves that. And I haven't forgotten that. And hopefully he's gonna pick some more bloodlines that I do hope to still have some great horses as time goes on. The saying is, if you got a good two-year-old, you'll never die because you look forward. You're so healthy to look forward when that two-year-old starts racing the following year. I think it should be less complicated for people which haven't been too often at the racetrack, sort of go the first time or a few times. So we got to make sure it's a little less complicated. But as we go on, there's room for simplified wagering and more exotic wagering, right? So the exotic wagering, I think, eventually I see that people could win 50 million or 100 million. And I think we got to provide that kind of wagering as well because why do people buy lottery tickets? They want to have a life-changing gamble, right? And so we could provide that kind of a gaming but also simplify. And I've always say, if you do it right, I think people could have a lot of fun. And it's one of the few entertainment places where you could go with some monies to the racetrack and you could leave the racetrack with more monies than you went to, huh? In 2024, Stranaert started the Canadian Economic Charter Initiative. The seven principles of the Canadian Economic Charter are the balance of the budget and eliminate debt. Stranaert advocates for balancing the federal budget and paying down the national debt by 5% per year, aiming for a debt-free Canada in 20 years. Well, the Economic Charter of Rights is only based on economic principles. Number one is no country should have mostly balanced budgets. So in 20 years, we should eliminate the huge amount that that Canada has. Number two, a country can only function if there's a proper relationship between bureaucracy and productive forces. So the same thing in a factory. When I go in a factory, I don't have to look at the financial books. I go in, I know if that factory will make some profit or not. If there's too many office employees and too few people work on the workers' floor, the company will not make any profits. So it's very important for balancing. The country with the least amount of bureaucracy will have the highest living standards. Reducing government overhead and red tape. The Charter calls for reduction in government spending on overhead and excessive regulations that hinder economic growth. A simplified tax system. A clear-cut, easy-to-understand tax system that eliminates loopholes and benefits for special interest groups. Number three, we need a tax system. Right now, the tax system is geared towards special interest groups. They have so many high expensive tax lawyers to find loopholes or great loopholes. And we must eliminate loopholes. So number four is we don't want to kill the capitalistic system. So small enterprise or small companies means below 300 people. They can operate completely under the free enterprise system. Two rules will apply. Workplace safety and you cannot dump poison chemicals in your backyard. So that is number four. And when the small companies get larger, then they're going to share the profits. The law would say you have to share the profits with the workers. Unchained small businesses. The elimination of business tax on small businesses with fewer than 300 employees. And reduction of unnecessary regulation. Share profit with employees. Establish a profit-sharing culture where employees and managers share in the profits they help generate. So that's five. Number six, we got to make sure we can't make things. So we got to create, we got to see that our young people learn traits. So high school should start by grade 10, grade 11, grade 12. Our high school students should be exposed to the traits. To be exposed to the traits gives them additional knowledge. The key education is there to educate people and give them more knowledge. They can decide if they want to go to university or they could stay within the traits. We need traits. Provide skilled training and apprenticeships. Ensuring high school students receive exposure to skilled trades, training, and apprenticeships. The right to healthy food. Implementing programs to ensure no child goes hungry. Promoting organic food for schools and supporting family farms. Number seven, which is most dear to my heart is, no Canadian kid should go to school hungry. That means breakfast got to be served. No Canadian kid should leave the school hungry. That means lunch has got to be served. And by law, the food would have to be organic. That opens up another question. Family farms were always the backbone. A country which could feed its people had never had a problem. But now, family farms, they're practically in welfare. Kids of family farmers say, mom, dad, I don't want to be in farming. I don't want to be in welfare. So we must make sure that family farms can be an operation and increase, and kids will grow back to run farming. Because to grow food and feed the people, it's the most noble thing you can do. So I do hope we can do it by, we got a great family farm foundation where if they grow organic food, they would get a subsidy. If somebody says we cannot afford that, that would be a very poor statement because the medical costs are enormous. They would outweigh the foundation cost for organic farming due to family farms. So anyway, I look forward that our kids have a chance to grow up healthy and happy. If they're not healthy, they won't be happy. If they're not healthy, it would hamper their learning activities. And most of all, all kids of all families are not quite that well-to-do, then all kids should have the right. That's got to be in our economic charter of rights that all kids have a right to grow up healthy. What drives me, my mission is, how can you eliminate poverty? Poverty leads to crime, to hate, discrimination. It's, you know, we could. We could eliminate poverty and that's what it's all about. An economic charter of rights would do that. You see, I'd like to point out too that the world has always been dominated by the golden rule. Where the gold makes the rule or where the money rules the world. Nowadays, we don't see the kings anymore or the people with lots of money. They might be in Hawaii, they might be in Beverly Hills, they might be in Monaco, but it's still there. When you look at the States, the States has little more schedules or statistical data. In the States, about 1% holds 50% of all the wealth. That means 1% dictates how the other 99% lives. It won't work that way. Well, I said early on, economic freedom is, when you work for, let's say, 20 or 30 years, you should have enough accumulated that you own your own little condo or your own little house and maybe have $50,000 or $100,000 in the bank to subsidize your pension fund, right? Then people will have a choice to, everybody should have a choice to whatever makes you happy, but you let everybody choose their own road to happiness, right? That's what life is all about. When you get older, choose your own road to happiness and do not prevent that also other people can choose their own road to happiness. You're asking government to tell businesses how to structure their finances. So why is that appropriate in your view? Well, there's a lot of things where government tells citizens or people speed limits on cars, right? Or on roads, right? So there's many, many rules and regulations that we have. The economy is the most important thing that you cannot, if there's no money there, you cannot feed the hungry. If there's not, if money's there, you can't run a hospital, right? Look after the sick. So it's the economy, the economy, the economy. So we gotta keep it in our, we gotta talk about it. We gotta get Canada back on a sound economic foundation. Right now it isn't. Basically, when you take a look at me, my schooling wasn't that great. I really developed a blueprint. I walked that way. If everybody would walk that way, they could do the same things that I could. You know the Magna culture, right? Nobody walks for me. You people walk with me. I'm walking for you. And Frank Stronach is almost always working. His grassroots style of doing business has made him one of the great rags to riches stories of the 20th century. A billionaire businessman and a modern day philosopher. My mission is to create an economic charter of rights, okay? Because economic charters of rights, I guess could eliminate bombardies. So I want to talk about that. That shouldn't be lost. I have accumulated incredible experiences, right? I've been on the boards of a number of universities. I've been on the corporate governance board of the New York Stock Exchange. Been on the board of banks, hospitals, universities, etc, etc. So I've accumulated a lot of, experiences. And imagine, you know, sometimes people wonder, how is it possible, right? To start in a garage, a one-man operator, and to create a company with 180,000 employees in 34 different countries, right? So my main reason why I came is to let people know, you know, that the divide between the very rich and the working class is huge, the divide. Okay, and we also should understand the world has always been dominated by the golden rule. Who has the gold makes the rule. The world still is dominated by the golden rule. Years, generations ago, you know, when the king, the king had a castle up the hill, when he taxed the farmers too much, he had revolutions. Now you don't see the kings anymore. They might be in Hawaii, they might be in Beverly Hills, they might be in Monaco, but it's still there. And the very rich don't want to share the profits with workers. And I'm saying a country can only function if they have an economic chart of rights. The success is, you, it's constantly, when I look at things, it doesn't even, if you go in the store or what, can you make it better? Can you make a product better? Quality-wise better, and price-wise better, it's constantly. But the very key is people, huh? Okay, you see, I think the foremost principle in our life is, well, let me see, the primary reason why people get up in the morning is they want to make a better life for themselves and their family. So when you be part of a system where you're recognized that you have input and you be paid accordingly to it, that's what drives the system. So in essence what I'm saying is you should have smaller factories so people won't become a number. So you recognize them that they have input and be paid accordingly to it, right? So I've, you know, I have 400 factories in 30 different countries, so I've seen many countries in the world, the systems they operate under. And sometimes when I go to Washington, and believe me, I meet people on the highest level. So when I say sometimes to a senator or congressman, when I say, why should a worker vote for your party? You got absolutely no system. Why a worker should vote for you? And so in essence, what I'm trying to tell them is America is the last country where the free enterprise system maybe has got a chance to survive. But if we fail, that workers, if they can't participate in wealth creation, we haven't got a country. So the key is we need profit sharing. You see, it takes three forces to be successful. It takes good management, it takes capital, and it takes workers. And if one of those three don't function, if you got no monies and stuff to expand and stuff to do things, if you haven't got no good management, also you don't make no headways, and you need workers. And there has to be harmony. In essence, the message what I got to get constantly across is workers have a moral right to some of the profits they help to generate via their hard work. And the success of Magna was because we were the, I think the only company in the world with a corporate constitution. If the economy doesn't work, it cannot feed the hungry. It cannot look after the most fragile, the elderly, the sick, and the handicapped. But we don't talk about what's the economy. It's strange. There's something wrong. I want to see Canada being the first country in the world which will adopt an economic charter. Okay, the first country. I hope I will. But the one thing I know, I opened the door to an economic charter of rights, and you cannot close the door. It will come. Okay, people will wake up. And the very rich gotta say, look, we gotta share with the workers. Otherwise, so in essence, what I recommend is, you know, the golden rule, you know, is dominant. So the world was always dominated by the golden rule. So the question is, how can we, how can we dismantle the chains of dominations? Not via violent revolutions, via revolution of the mind, via economic charters of rights. And I'm not saying we should take away from the rich. All what I'm saying is, we gotta, employees gotta have a chance to participate in baking the economic pie. Without employees, we can't make a profit. So we're neglecting that. Most people agree, if the economy doesn't work, nothing else will work. You cannot treat the hungry. You cannot look after the most fragile people, the elderly, the sick, and the handicapped. But we do not talk what drives the economy. The economy is driven by three forces. Smart managers, hardworking employees, and investors. That means all three have a right to the outcome, which is profits. If we fail, or if we do not let workers participate in profits, then we got a problem. Okay, so tell me, what do you think when someone says you're an icon? You're, you're an icon. What is your thought? What comes to your mind when they say that to you? Well, that's a strong statement, right? I suppose you have a certain age that you can accumulate certain trophies, or certain businesses, or certain things. And I think icon would mean that you've done something good, right? And I do hope, I know, I know I've done a lot of good in the automobile industry, but yes, the constitution, the foremost principle in our corporate constitution was we predetermined what we do with the profits. The first reason was without workers we couldn't make a profit. So it's only fair, smart, and wise to get a poshie. So 10 percent of the profits go to the workers. Approximately half they get in cash, and the other half they get in shares. So our workers are major shareholders. Our workers, there's an environment, otherwise the owner portion of the machines, that's where you gotta be careful. And when they may end, so 10 percent go to the workers, 20 percent go to the shareholders. Those are the people which advance monies, so they get a dividend. 7 percent goes to research. A company which doesn't do research will not be around in the future. Research is the foundation for the future, right? And 2 percent we give to charity. My advice to people would be focus on today to stay alive to survive. But leave the door open for tomorrow to follow your dreams. And as you follow your dreams, always be guided by your conscience. Our conscience is the reflex of the soul. And it is our soul which lives continuously and unceasingly in search of the truth, in search of equilibrium. It seeks to serve others. And it is the ultimate expression of our humanity. Frank Stranach's journey from a young Austrian immigrant to a successful billionaire entrepreneur and economic visionary is a testament to his determination, innovation, and commitment to excellence. As he continues to advocate for economic reform throughout the Canadian Economic Charter, Stranach's legacy will immortalize him as fostering growth, fairness, and shared prosperity. And will undoubtedly influence change for the future that will live for generations to come.