The season of giving is in full swing at one real estate company after a very generous chairman gave his employees the ultimate holiday gift: A $10 million bonus to share.
When the 198 employees at St. John Properties, a real estate company headquartered in Maryland, attended their annual holiday party, many expected food, drinks and good company. No one could predict what was inside of the red envelope handed out to each of them.
"You're all participating in a bonus based on the number of years [of service] of $10 million," company founder and chairman Edward St. John announced at the party. The workers were stunned to find out that on average, they'd each be going home $50,000 richer. The highest bonus awarded was $270,000.
"To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives," said St. John in a statement.
The company said the bonus was awarded to celebrate a big achievement—developing 20 million square feet of retail, office and warehouse real estate space in eight states.
"I am thankful for every one of our employees for their hard work and dedication. I couldn't think of a better way to show it," St. John said.
Overwhelmed by the life-changing gift, some employees were seen crying after learning of the bonus.
"I was totally blown away when this happened," said one employee. "What happened tonight was magical," another said before breaking down in tears.
The bonus will be paid out in addition to the company's annual year-end bonus.