VIEWPOINTS : WHEN SUCCESS ISN’T ENOUGH : Domino’s Pizza Founder Tells Why He May Sell His Firm to Devote More Energy to Charitable Causes

Tom Monaghan, sole owner of the huge Domino’s Pizza chain, startled many people early last week by disclosing that he is thinking about selling his Ann Arbor, Mich.-based company to devote his life to charity. Why would someone such as Monaghan--who has been criticized in the past for his ostentatious displays of wealth--decide to give up the business career that made him rich and famous? In the following column, Monaghan tells his story.

In 1960, my brother Jim and I borrowed $500 and decided to purchase an existing restaurant and turn it into a pizza store in Ypsilanti, Mich. My brother wasn’t persuaded that the idea of pizza delivery would work, and he soon decided to leave the company. We had little cash, so I gave him the company Volkswagen as payment.

Quite frankly, I also often wondered whether the idea would work, but we kept at it and today Domino’s Pizza is the world’s largest pizza delivery company, with 5,100 stores in 18 countries and annual systemwide sales exceeding $2 billion.

Last week, I announced in a letter to our employees and franchisees that I was exploring the idea of selling Domino’s Pizza. Some folks wonder why I’d make such a stir before I’d actually make a decision and finally sell. Personally, I like to sleep at night so we felt it was better to be open and honest with our employees from the start.

I thought I alluded to this idea of stepping aside when I appointed Dave Black, a longtime employee, to be president last spring. But this recent announcement has created quite a stir.

I guess the question everyone is asking is, “Why would a 52-year-old man, with a beautiful wife and four lovely daughters, spend his entire life trying to get to the top and then, once he gets there, think about selling it?”

Don’t let anyone kid you, it’s not easy.

My life is going through a process where material things don’t mean as much to me as when I was younger. I spent part of my childhood in an orphanage, and I didn’t have a lot of material possessions. I’ve always had a dual personality, I guess. I admire P. T. Barnum, but I also admire Pope John Paul II. I admire the flamboyancy of Donald J. Trump, but I also admire Mother Teresa. I think you get the picture. But as you get older, you find that the material things really don’t mean as much as people think. After all, the ultimate goal is the hereafter or heaven so it’s not going to matter how much or what you have.

In my letter to our employees and franchisees, I said that I wanted to spend more time on the Domino’s Pizza Foundation, which supports the church, the arts and education.

Andrew Carnegie once said that “it’s easier to make money than give it away.” I used to laugh at that notion, but it’s really true. There are so many people and places to help, and so little time to do it. Over recent years, I’ve tried to take an active role in the Roman Catholic Church. We’ve started a group called Legatus, which is an organization of Catholic presidents of companies, and our goal is to help the church and encourage business leaders to use their faith to lead. Elsewhere, we’re supporting a missionary in Honduras, and we enjoy visiting and helping out with our efforts down there. Because of my love of architecture, I’ve been challenged by the Vatican to help design a chapel that could be built and implemented by parishes around the world.

In addition to the church, we’ve also been active in supporting the University of Michigan’s athletic program and architecture school, along with Mott Children’s Hospital in Ann Arbor. To sum it up, working with the foundation is a very time-consuming job, and I’ve found that it is not fair to try to divide my time between the company and the foundation.

Now don’t get me wrong, I’m not saying I’m a good Catholic, but that always has been a goal and still is. I’ve always wondered why I ended up so successful and I figure there must be someone out there watching over me, so maybe it’s time to pay some of those favors back.

The question’s been asked if the boycott of Domino’s Pizza by the National Organization of Women concerning my support of the Committee to End State-Funded Abortions in Michigan has affected my thinking. It probably hasn’t because the boycott really hasn’t hurt businesses. However, I wouldn’t want my support of such social issues to hurt my franchisees in the future.

Until I do make a decision, people are asking what exactly is going to happen to Domino’s Pizza. As I see it, there are four options: Go public, merge with an existing company, sell to a public or private company, or do nothing.

If and when I do walk away from it, the decision won’t be an easy one. I still wake in the middle of the night dreaming about a “rush” in the pizza store (a large number of pizza orders at one time), even though I have not been in a store full time in years.

There’s much speculation right now on what Domino’s Pizza is worth, and that’s what we’re trying to figure out. I can assure you that if we do sell, the new owners will be getting the finest management team around.

We’re currently not actively negotiating with anyone because it’s way too early in the process. I also have to consider planning my estate and my family’s future welfare. I know this talk tends to lead to speculation that I’m in bad health or something. I can assure you that I’m in great health and I run six miles each day. I have tons of energy but I guess I want to redirect those energies.

Parting with Domino’s Pizza would be extremely difficult because of one more factor and probably the most important one--my wife Margie. Because I’ve eaten, breathed and slept Domino’s Pizza for almost three decades, she doesn’t think I’ll be able to walk away from it. Margie is probably the most important person in my life, and a man couldn’t ask for a better wife and friend. She’s been with me through thick and thin, so obviously her input will play a role in my final decision.

My wife doesn’t want me to sell and my management team doesn’t want me to sell. I’m at a crossroads in my life. But then again, that’s why you have faith.