Wednesday, 10 September 2014

Millionare TEAM

How A Founder Turned Half His Team Into Millionaires

This is an excerpt from a story that was previously published on Business Insider, How 3 CEOs Gave Up Fortunes To Turn Half Their Employees Into Millionaires.

Wiley Cerilli dropped in and out of college five times and never graduated. His first Manhattan apartment was modest with a blow-up mattress for a bed that frequently popped when he'd lie on it.

Now he's 34 and a multimillionaire. In 2012, he sold his two-year-old company, SinglePlatform, for $100 million in cash and stock to a publicly traded company, Constant Contact. Half of his employees became millionaires, even though none of their stock options had a chance to fully vest.

Here's how Cerilli rewarded employees, even though he wasn't contractually obligated to do so....