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‘Share the wealth’: Boss’ incredible $38 million gift to staff

·2-min read
hands holding red box with dollars
‘Share the wealth’: Boss’ incredible $38 million gift to staff. Source: Getty

A 48-year-old boss in the UK has revealed his staff were gifted a whopping £21 million (AU$38 million) last year, as a result of his company’s buy-back scheme.

Matthew Moulding, who founded eCommerce site The Hut Group, landed himself a £830 million (AU$1.5 billion) payout after shares in the group soared following its IPO in September. While it’s not revealed what his staff received this year, last year they won big, the Mirror reported.

As part of the company’s buy-back scheme, which is open to staff, several employees became multi-millionaires after cashing in on their shares.

"No one in the scheme received less than a couple of hundred grand,” Moulding said at the time.

In fact, his 36-year-old personal assistant received such a big payout, she was able to retire after cashing in.

"With the rise of [Jeremy] Corbyn, there is a lot of anti-business sentiment around, but there are people in business who want to do the right thing,” Moulding said.

“No one is perfect, but we are wanting to share the wealth."

Since his $1.5 billion windfall, the entrepreneur has vowed to donate his entire £750,000 salary to charity. He’s also given £10 million to support Covid-19 relief efforts, and donated £2 million worth of personal protective equipment to frontline workers during the pandemic.

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