‘This is real business’
Gonski tells Chanticleer he first met Kuper in 2010 after someone recommended he watch a TED Talk Kuper had done.
“It was the best talk I had ever seen,” he says. Soon after watching the TED Talk, the two men met. Gonski has talked to Kuper once a month ever since.
If you look at the returns, which I had to look at, they are as good if not better than what you took in private equity.
— David Gonski
“The first thing I would say about LeapFrog is this is not philanthropy,” Gonski says.
“This is real business. And if you look at the returns, which I had to look at, they are as good if not better than what you took in private equity.
“The beauty of what Andy says is that he doesn’t think you need to be philanthropic to do good. He thinks that a good business brain, focused on assisting people, basically is a model that is a win-win – it’s good for the people and good for the business.
“That’s his conjecture, which interests me.”
Impressed with LeapFrog’s achievements
Gonski says the end of his six-year term as a director of ANZ opened the way for him to consider other positions.
“I am 67 as of last week and I want to keep busy and I want to do things,” he says. “The bank took a lot of my time and I’m looking to replace that.”
He says he was impressed with the achievements of LeapFrog over the past decade, including empowering millions of underserved consumers and delivering outsized returns to investors.
He says LeapFrog represents the future of business and others should look to its business model as we come out of the COVID-19 pandemic.
LeapFrog has backed businesses that combine digital outreach, data analytics, innovative product design and local agency forces. Fortune recently named LeapFrog as one of the top five “Companies to Change the World”, alongside Apple and Novartis.
Gonski confirmed he had been invited to join the board of Barrenjoey Capital as non-executive chairman, but said any decision in this regard would have to await his departure from ANZ.
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