One Founder Made 160 Millionaires
This past week, I had the chance to attend a celebration. It was an “exit” party. My friend recently sold a majority stake in his company for over $1.5 billion and threw a party to celebrate the milestone. It was a ton of fun, and one thing he shared with the guests has been replaying in my head.
He had over 600 employees at the time the transaction closed last month. He shared that over 160 of them became millionaires when they received their proceeds from the transaction. That’s an amazing statistic—it’s life-changing money for over 160 Atlanta families. It’s also a testament to working for a great company that’s selling a product or service in a fast-growing market and getting equity (i.e., employee stock options, restricted stock units, etc.) in the company.
I’m delighted for my friend and his employees. I especially tip my hat to him for sharing the pie with his team, which isn’t something all entrepreneurs embrace. Some have an I-want-it-all-for-myself mentality, which, in my opinion, limits their ability to attract and, more importantly, retain high-quality people. My friend took the opposite approach and was able to create a tremendous amount of wealth for himself alongside a great team who also became wealthy.
