Simple Modern's Charitable Growth

A story about the founder of Simple Modern, a tumbler/mug company, who built a massive business while maintaining a strong commitment to charitable giving.

"I talked to the founder of Simple Modern the other day. He started the company in 2015. In 2017 they had $10 million in revenue, in 2018 they had $20 million. By 2021 they hit $80 million, 2022 they did $95 million, and in 2023 they reached $180 million. This year they're expected to do $225 million selling these tumblers.

He started the company with $200,000 in his thirties. He owns half of the business because he gave away a lot to employees. In 2023 they did $180 million revenue with $45 million in EBITDA and profits.

He's based in Oklahoma, just a real soft, sweet, wonderful nice guy. He started this company for two reasons: to build a business where he could hire people he admired being around, and to give away a lot of money.

Since the beginning, the company has pledged to give 7-10% of their profits to charities, with employees voting where the money goes. He's been giving away about $100,000 a month of his family money. He said 'I've been able to save up about $4 million, but I'm still giving away something like $1 million a year.'

When he was making $200,000 a year, he was giving away $5,000 a month. His net worth is probably $200 million based on the business value, but he's giving it all away. His intention is to continue giving while he's alive, not when he's dead. He might leave his family enough for a little bit of something, but he's going to give away most of it."