Tom Monaghan was born in 1937. His father died on Christmas Eve four years later. His mother was unable to cope with raising two young boys on her own (Tom had a brother), so Tom spent his childhood in foster homes and orphanages. After a stint as a farm laborer, Monaghan joined the Marine Corps and after leaving the Corps, he enrolled at the University of Michigan. In 1960, he borrowed $900 to buy a small pizza joint.
That small pizza joint has grown. Chances are, last year you bought one of Tom Monaghan's 250 million pizzas. Everybody in the United States and plenty of people in twenty-one countries around the world have heard of Domino's Pizza. There are more than 5,200 Domino's stores in the United States, more than two-thirds of them operated by franchisees. Systemwide sales in 1989 were $2.5 billion. The former penniless orphan kid owns 97 percent of the company.
As a child, Monaghan dreamed of playing for the Detroit Tigers; later, he dreamed of owning the team. That dream came true in 1983. Other dreams came true shortly thereafter: the world's largest collection of Frank Lloyd Wright memorabilia (including a few houses), a notable collection of classic cars, the large part of an island on the Canadian border, and various boats, planes, and homes. But now, at fifty-three material things are meaning less and less to him.
Despite the trappings of materialism, Monaghan remains a simple, virtuous man. He married in 1962 and has stayed married to the same woman, not traveling much because he prefers family life. Connie Marshner recently spoke with him about success and happiness, Domino's the Tigers, ethics, family, religion, the media, and a few other things.
Doing the Right Thing
Q: What are the keys to happiness?
A: Well, I think that practicing the Golden Rule is one of the first. Now, I can say one thing and do another, so I don't want to sound pontifical here. But I think, put God first and then put yourself second. I'm not saying I do that, but that's what I know that I should do.
Q: And it's what you try to do?
A: Yes.
Q: How does that translate into business practices?
A: I think it's had a lot to do with why I've been lucky in business. I've always tried to play fair - it's the way I was brought up, I'm just not programmed so that I can do something that I know is wrong or dishonest. Now, that's not something I can take any credit for. It was my upbringing.
Q: How would trying to practice the Golden Rule carry over, for instance, into personnel policies?
A: I think there are a million different things you can do, but it all has to start with being interested in the welfare of the employees in the first place. Even for selfish reasons you want to be interested in the employees, because in the long run you are not going to
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