How a billionaire CEO made his employees into millionaires
Jay Chaudhry sold his startup SecureIT to Verisign in 1998. Verisign’s stock price surged in the coming years, making more than 70 of his 80 employees into “on paper millionaires.”
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00:00After selling his IT startup in 1998, J Chaudhry made over 70 of his employees into millionaires.
00:07Chaudhry founded the startup with his wife and later sold it to Verisign,
00:10which helped the company's stock price skyrocket.
00:13After doing the math, Chaudhry realized the stock options his employees had made them
00:18on-paper millionaires. Sharing the wealth felt good to the now-billionaire,
00:22a sentiment that Mark Cuban also holds.
00:25Cuban recently tweeted that most of his sales resulted in bonuses for his employees.
00:30His sale of Broadcast.com to Yahoo! meant Cuban became a billionaire,
00:35and 300 out of 330 employees became millionaires.