He sold his company for $1.7 billion -- then handed $240 million to the 540 workers who stuck with him [View all]
Many business owners who sell their companies for a huge sum will happily walk off into the sunset with their billions. Graham Walker chose a different path.
The majority owner of family-run Minden, Louisiana-based Fibrebond sold his company earlier this year for $1.7 billion. To thank longtime workers at the maker of enclosures for electrical equipment, though, he earmarked $240 million of that for bonuses, which resulted in life-changing cash infusions for 540 full-time employees.
On average, The Wall Street Journal reports (1), employees received $443,000. Workers with long tenures received more. Much more. The money will be paid out over a five-year period, as long as the employee stays with the company. (Workers over the age of 65 received the entirety of their bonus and won't have to continue working if they don't want to.)
The employees didn't own shares in the business. They weren't investors. Their windfall came through a founder's generosity.
https://finance.yahoo.com/markets/stocks/articles/sold-company-1-7-billion-193500329.html
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