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[–] 41 points 2 years ago (1 child)

People are careful with their words on this and often act like it's a gift. It's an ESOP so he sold it to his employees. That said, it's still a better model than selling to a public company and I'm sure he did take a loss on it compared to that.

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  • [–] 48 points 2 years ago*

    From the perspective of the employee it basically is a gift (more a benefit).

    Employees don't pay for stock in an ESOP; they're earned by being employed there (with different options for how they're divided, but restrictions so they aren't excessively dominated by the highest earners).

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