Boss Hands Workers $240M in Bonuses After Selling His Company for $1.7B

A Louisiana factory chief proved to be a real-life Santa Claus — giving each of his 540 full-time employees six-figure bonus checks totaling $240 million.

The generous gesture came after the benevolent boss sold the company for $1.7 billion.

Graham Walker, the now-former CEO of Fibrebond, told The Wall Street Journal that he would not agree to sell his company if prospective buyer Eaton did not earmark 15% of the proceeds for its employees — even though none of them owned stock.

The deal, which was completed earlier this year when Eaton acquired Fibrebond, triggered payouts to 540 full-time workers, averaging about $443,000 per worker spread over five years.

Long-tenured employees received far more, according to The Journal. (Read more from “Boss Hands Workers $240M in Bonuses After Selling His Company for $1.7B” HERE)