Michigan CEO Splits $128M Among Employees

By Good News Network Thursday, August 05, 1999

Archives - Business

Belleville, Michigan- Bob Thompson sold his asphalt and paving business for $422 million. He then took $128 million of it, after taxes, and he distributed it among the 550 employees at the plant.

Hourly workers that had retirement plans received $2,000 for each year worked. Salaried employees that had no retirement plans were each rewarded with between one and two million dollars each.

When asked why he did it, Thompson said the short answer is that “It was the right thing to do.”

“People came into my office crying.”

But upon reflection he realized he did it for himself: It was an egotistical thing. “To have the esteem of your workforce - what more could you want?... People came into my office crying.”

He started the business 40 years ago with an investment of $3,500. He was able to succeed, he told National Public Radio’s All Things Considered, “Because of the employees, which made the difference between us and our competitors. We demanded that they be number one every day of their work life - and that’s asking a lot.”

After giving the money did he ask anything in return?

“I said to them, ‘you have to tell your kids and grandkids about me’.”

And surely, receiving such inspiration, they will.