He could’ve bought a sweet vacation home or at least started saving up for a $52 million cake draped in diamonds, but a British CEO decided instead to give his hefty bonus back to his employees.
Lord Wolfson, CEO of clothing retailer Next, announced in an email that he was giving his 2.4 million pound, or $3.7 million, bonus to his employees, the Telegraph reports. He told his workers that it was a “gesture of thanks and appreciation from the company for the hard work and commitment you have given to Next over the past three years and through some very tough times.”
The 45-year-old businessman had earned the money through a share matching plan, which began in 2010.
But this isn’t the mogul’s first foray into charitable giving.
Wolfson, who became CEO of the company at 33, serves as trustee of the Charles Wolfson Charitable Trust, an organization that supports a number of initatives, including the Meningitis Research Foundation and the National Osteoporosis Society, according to the Week.
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