Top boss makes 74 employees millionaires after gifting £1billion worth of shares

Virgin Radio

9 Dec 2020, 12:09

What did you get for your work's Secret Santa this year? You can keep your scented candle thanks - unless it’s worth a million. Take a deep breath and try not to go tinsel green with envy because a boss has been extra generous this year and given his staff a share of his £1billion fortune. 

Matt Moulding, the founder of The Hut Group (THG), gifted staff £1billion worth of shares.

The Manchester-based businessman has rewarded employees including everyone from secretaries to drivers and warehouse staff with huge festive payouts from shares.

What's even more impressve is that he started at the bottom washing dishes and expelled from college before selling CDs online and running retail websites.

Specialising in online beauty and nutrition retail he’s not short of a coin or two and the business is estimated to be worth around £5 billion.

The generous gent told The Mirror: “We have created more millionaires than any other company in British corporate history.

“The shares are 100 per cent gifted, no-one has had to pay anything. We have genuinely changed so many lives.”

According to The Sunday Times Rich List, the businessman is worth £960m. Ouch.

And it’s thought he’s given £10million to support Covid relief efforts plus £2million to frontline workers for PPE gear.

Time for a quick career move, anyone? We hear Manchester's nice this time of year.