Thomas Stephen “Tom” Monaghan who is born on March 6 25, 1937 is an American entrepreneur who founded Domino’s Pizza in 1960. Monaghan is Roman Catholic and announced his retirement after 38 years with Domino’s Pizza Inc. He owned the Detroit Tigers from 1983 to 1992.
His father died when Monaghan was four years old. Monaghan’s mother had many difficulties raising him alone. At age six, in 1943, Monaghan and his younger brother ended up in an orphanage until their mother collected them again in 1949.
He got married to Marjorie Zybach in 1962. They met while delivering a pizza. They have four daughters: Margaret, Susan, Mary, and Barbara. They have 10 grandchildren, and one great-grandchild as of 2014. Monaghan is a donor to Priests for Life, a Roman Catholic pro-life organization. He is a knight of magistral grace in the Sovereign Military Order of Malta.
In 1956, Monaghan enlisted in the United States Marine Corps by mistake; he had meant to join the Army. He had received an honorable discharge in 1959. Monaghan returned to Ann Arbor, Michigan, in 1959, and enrolled in the University of Michigan, He was intending to become an architect.
While he was a student, he and his brother James borrowed $900 to purchase a small pizza store called DomiNick’s in Ypsilanti, Michigan. He said “I started out in architecture school, and got into the pizza business to pay my way through school,” and said, “The pizza business was losing so much money I never got back into architecture.”
After opening three more stores with his brother James a Volkswagen Beetle for his half of the business. Monaghan puts sub sandwiches from the menu and focused on delivery to college campuses. Inventing a new insulated pizza box to improve delivery. Invented new box, unlike its chipboard predecessors, could be stacked without crushing the pizzas inside, permitting more pizzas per trip, and keeping them warm until they arrived.Spreading his model to other college towns through a tightly-controlled franchising system, by the mid-1980s there were nearly three new Domino’s franchises opening every day. In 1983, He established the Mater Christi Foundation, Today known as the Ave Maria Foundation, to focus on Catholic education, media, community projects and other charities.
In December 2011, Monaghan embarked on his second quick service restaurant brand by starting Gyrene Burger Company. The term “Gyrene” was used in the 1940s and 1950s as a nickname for Marines. In 1998, Monaghan reportedly sold his 93% of his stock ownership Domino’s Pizza into Bain Capital an investment firm based in Boston, for an estimated $1 billion. Domino’s Pizza is an American restaurant chain and the international franchise pizza delivery corporation is headquartered at the Domino’s Farms Office Park, The campus itself owned by Monaghan in Ann Arbor Township, Michigan, United States, near Ann Arbor, Michigan.
Monaghan’s net worth today is unclear. BusinessWeek estimated in 2005 that he had $500 million in assets but he had already distributed or pledged to give away $451 million
- His Brother Sold His 50% Share in Dominos for a Used 1959 VW Beetle.
- He Met His Future Wife on His First Pizza Delivery.
- His Best Employees are Known as Dominoids.
- He Maintains a Serious Diet.
- He’s a Doctor of Pizzerology.
- Another of Monaghan’s expensive passions had been automobiles, and for a time he had a collection included one of the world’s six Bugatti Royales, for which he paid $8.1 million in 1986, and had sold it $8 million in 1991.
- Monaghan sought to establish the Ave Maria University in Ann Arbor, at Domino’s Farms, the large corporate office park that he owned and leased to Domino’s Pizza In early 2002. The Local officials had refused to approve the zoning change, forcing him to look elsewhere for a site.
- In 2104, Tom won the Award for Lifetime Achievement award.
What can we learn from him??
Learn from your mistakes and Try to do better than previous in your any work.