A Louisiana CEO sold his family company in a deal worth around $1.7 billion.
But before the sale could happen, he had one condition.
His employees had to share in it.
Graham Walker, CEO of Fibrebond, insisted that roughly $240 million be set aside for the companyβs 540 full-time workers.
Most of them didnβt own any stock.
They were simply the people who had spent years helping build the business.
The employee awards work out to an average of about $443,000 each, although the actual amounts vary and longer-serving workers can receive more.
The money is being paid over several years, with some of it tied to employees staying with the company.
Walker reportedly made the payout a non-negotiable part of the deal.
His reasoning was simple.
The company hadnβt been built by one person.
It had been built by hundreds of people who showed up, worked through difficult years and helped turn a Louisiana manufacturer into a business worth billions.
So when it finally sold, he made sure the workers who helped create that value got a share of it too.
