Jim PenmanCEO, Jim's Group · CEO and Founder of Australia's largest franchise, Jim's Group

What are the values of Jim's Group CEO and Founder, Jim Penman #entrepreneur #ceo

27 May 2024 · 1 min

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A short interview clip of Jim Penman (CEO & founder of Jim's Group) describing his personal values and approach to wealth. He says he is not power-hungry, places little intrinsic value on earning money, lives on a small fraction of his income, and directs most surplus to his research program. He emphasizes purpose (research, franchisees, family), the limited link between material goods and happiness, and prefers spending on experiences and helping others. The clip was recorded/uploaded on May 27, 2024.

Questions this video answers

$10,000

About 90% of his actual income (surplus income directed to research).

May 27, 2024

Chapters

I'm not particularly power hungry. And earning money by itself doesn't mean anything to me either. We live on a tiny fraction of our income. I drive a $10,000 car. If I have money, it tends to go to my research program, which is probably 90% of my actual income. Surplus income would go into that, which is this thing there. Yeah, that's what I believe in. Neither income nor being a leader. More a case of can I achieve something that will change the world into a better place. Being rich itself doesn't have a lot of relationship to happiness. Buying more expensive car, bigger house, prestige stuff has almost no relationship to happiness. Money that's spent on experiences and also helping other people. You think it was a religious idea? It's just scientists have found it that the number one best way to spend money is to spend it on something that you believe in and get involved with it yourself. Which is exactly what I do with this project here. And that's a great life. Got to have a sense of purpose. And to my purpose is my research, my franchisees, my family. And I'm a very, very happy man. I don't think it's a happier man in the face of the earth.