Employees who perform well are usually rewarded with a bigger bonus or even a promotion. In certain companies, your boss might even make you a shareholder.
That’s precisely what one boss did, except way more extreme.
He gave 50% of the company’s shares worth $1 million to one of his employees.
Lucky chap.
Jalan Besar Motorbike Shop Boss Gives $1 million in Shares to Employee
As he retired, Mr Lim Soon Hock, 59, gave 50%, or $1 million worth, of shares to his long-time employee Xie Guoliang, 48.
According to Shin Min Daily News, Mr Lim started Lim Ah Boy when he was 21. Slowly gaining traction in the industry, his business grew prosperously.
Three years ago, when he retired, he decided to give half the shares in the business to his employee, Xie Guo Liang.
According to Mr Lim, Mr Xie had worked for him for about 20 years, so the decision wasn’t on the spur of the moment, but after careful consideration.
He added that the two shared similar ideologies, and Mr Xie had leadership abilities and was suitable to be his successor.
“I think wealth needs to be dispersed; we can’t leave it all to our family,” Mr Lim said (translated from Mandarin).
As for the other 50% of the shares, Mr Lim gave them to his eldest son, 28.
Mr Lim noted that the two have a “seamless” relationship and complement each other.
“A lone person’s ability is limited; two people can always go further with proper cooperation,” Mr Lim said (translated from Mandarin).
He is pleased with his decision thus far, as his successors have expanded the company by reaching more markets.
Join our Telegram channel for more entertaining and informative articles at https://t.me/goodyfeedsg or download the Goody Feed app here: https://goodyfeed.com/app/
His Wife Supports His Decision
You’d think the family involved won’t consent to $1 million being given away to a non-blood-related person.
Well, in this case, the family did.
Although he did not check in with her before making the decision, Mr Lim’s wife supports his move.
He reasoned that giving half the shares to Mr Xie would give his son a suitable partner and grow the business even more.
After his retirement, he spends his days helping in the shop as a consultant and doing charity work.
In an admirable statement, he said that nobody could bring their money with them to the grave, so they might as well spend it on those who genuinely need it.
Mr Xie’s Story
More than 20 years ago, Mr Xie was a deliveryman. However, he got in a car accident and was unable to work, so he lost his job.
To make matters even worse, he was the sole breadwinner.
Mr Lim extended an arm to Mr Xie and let him work in the shop. Additionally, he contracted a lawyer to collect fair compensation for the incident.
Mr Xie promised that he would work extra hard to repay Mr Lim. After working in the shop for five to six years, he was promoted to manager.
Fast forward to now, he owns half the company.
Happily ever after.
Read also:
- Ryan Tan Went on New Interview to Talk About the NOC Saga & His Relationship
- 3 People Found Unconscious in Sengkang Condo Fire at 1am Today (27 Nov)
- Singer Gary Chaw Finally Announced Divorce from Taiwanese Fashion Blogger
- A Person Who Allegedly Flashed Himself in Yishun Has Been Arrested
- There’s Now a New Starbucks in Jurong That Has Its Own Building & is Pet-Friendly
Featured Image: Shin Min Daily News / Facebook
Here’s a simplified summary of the South Korea martial law that even a 5-year-old would understand:
Read Also:
- Salon Allegedly Charged $880 Treatment Package to Elderly Who Has Hearing Difficulties
- Man Replaces M’sia-Registered Car With a S’pore Plate & Drives It Without a Driving Licence
- Confirmed: Allianz Withdraws Its Offer to Buy Income Insurance
- 10th Floor Resident Leaves Baby Stroller On Air Conditioner Compressor
- $400 Worth of Durians Delivered to Customer; Customer Allegedly Takes Durians Without Making Payment
- Woman Borrows Touch ‘N Go Card From S’pore Driver to Cross JB Checkpoint & Didn’t Return Card
Advertisements
