How does Larry Connor share wealth with employees and communities?
Short answer: Larry's approach puts community programs and employee ownership inside the same business, giving even groundskeepers a chance to share in the Connor Group.
At a Family Office Club event, Richard C. Wilson interviews Larry Connor about the Connor Group and its approach to business and giving.
Larry on support for underserved kids
Larry says the Connor Group supports kids and community partners through local, regional and national programs. He says one program started Ohio's first private school focused exclusively on under-resourced children.
Larry on associate ownership
Larry says the partner program includes associates across the organization, including property staff and groundskeepers. He says the ownership comes directly from him, with no dilution to investors.
Larry on partner standards
Larry says partners must recertify once a year. They must be exemplary in their job, help others and serve as role models. He says the standards are rigorously enforced.
Larry on shared ownership
Larry says a small group may have a smaller pie, while a larger group of owners may make the pie bigger. He argues that keeping a smaller share of a larger pie can be preferable.
"We personally believe if you've been fortunate and successful that you have both the opportunity and we would argue the obligation to share the wealth."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Anu Aga: Review grants regularly. Do not keep renewing grants without checking progress. Keep the focus on long term impact and help build accountability.
- Binod K. Chaudhary: Never chase a deal out of desperation. Stay cool and look at every part of the deal. Have your advisers and your finance team review it critically. Your counsel should review it too.
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Frequently asked questions
How does Larry Connor share wealth with employees and communities?
Larry's approach puts community programs and employee ownership inside the same business, giving even groundskeepers a chance to share in the Connor Group.
What does Larry call the community giving?
He calls it philanthropic investing, though he says other people would call it donating.
How much did Larry say the programs would receive?
He said the programs the Connor Group is involved in would receive about $800 million over the next decade.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.